Hillsboro Real Estate Market Update – December 2011
The Hillsboro real estate market finished November with 92 closed sales, which is up considerably from the 73 & 77 closed sales recorded in October and September respectively. Of the 92 closed sales in November, 43 were distressed properties (foreclosures/short sales) representing almost 47% of the closed sales for the month. As of the end of November, distressed properties accounted for 41% of the active listing inventory. There was 1 closed sale of homes valued at $500K or more during November and a total of only 5 over the three month period of September – November.
The inventory level is lowest in the up to $250K price bracket at only 3.0 months and overall it is at 3.9 months worth across all price brackets based solely on the November closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture increases to a still low 4.4 months worth across all price brackets.
The average sold price in November was $207K which is the same as the prior month. The median sold price in November increased to $193K, up from $184K in October. The average price of the active listings was $309K as of the end of November while the median price for the active listings was $225K during the same period.
