Hillsboro Real Estate Market Update – January 2012
The Hillsboro real estate market finished December with 78 closed sales, which is between the 92 & 73 closed sales recorded in November and October respectively. Of the 78 closed sales in December, 34 were distressed properties (foreclosures/short sales) representing almost 44% of the closed sales for the month. As of the end of December, distressed properties accounted for 46% of the active listing inventory. There were no closed sale of homes valued at $500K or more during December and a total of only 1 over the three month period of October – December.
The inventory level is lowest in the up to $250K price bracket at only 3.7 months and overall it is at 4.5 months worth across all price brackets based solely on the December closed sales rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 4.5 months worth across all price brackets.
The average sold price in December was $201K which is down $6K from the $207K recorded the prior month. The median sold price in December remained at $193K. The average price of the active listings was $295K as of the end of December while the median price for the active listings was $220K during the same period.
