The Newberg real estate market finished September with 49 closed sales which is between the 46 & 63 closed sales recorded during the prior months of July and August respectively. Of the 49 closed sales in September, 5 were distressed properties (foreclosures/short sales) representing 10% of the closed sales for the month. As of the end of September, distressed properties accounted for only 3% of the active listing inventory. There were 4 closed sales of homes valued over $500K during September and a total of 16 during the three month period of July – September.
The inventory level is lowest in the up to $250K price bracket at 0.6 months and overall it is at 2.4 months worth across all price brackets based solely on the September Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture decreases to 2.2 months worth across all price brackets.
The average sold price in September was $323K which is an increase of $8K, compared to $315K in August. Meanwhile, the median sold price was $301K in September, up $11K from the prior month. The average price of the active listings was $660K as of the end of September while the median price for the active listings was $428K during the same period.
New real estate listings in Newberg (last 3 days):