Hillsboro Real Estate Market Update – August 2011
The Hillsboro real estate market finished July with 85 closed sales, which is down from the 97 closed sales recorded during June. Of the 85 closed sales in July, 25 were distressed properties (foreclosures/short sales) representing 29% of the closed sales for the month. As of the end of July, distressed properties accounted for 39% of the active listing inventory. There were 2 closed sales of homes valued at $500K or more during July and a total of 5 over the three month period of May – July.
The inventory level is lowest in the up to $250K price bracket at 4.2 months and overall it is at 5.4 months worth across all price brackets based solely on the July closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture is the same at 5.4 months worth across all price brackets.
The average sold price in July was $221K which is a decrease of $3K, compared to $224K in June. Similarly, the median sold price in July decreased to $215K, down from $219K in June. The average price of the active listings was $304K as of the end of July while the median price for the active listings was $226K during the same period.
