The Gresham real estate market finished November with 97 closed sales, which is even with the prior month of October respectively. Of the 97 closed sales in November, 7 were distressed properties (foreclosures/short sales) representing 7% of the closed sales for the month. As of the end of November, distressed properties accounted for 20% of the active listing inventory. There was 1 closed sale of homes valued over $500K during November and a total of 9 over the three month period of September – November.
The inventory level is lowest in the up to $250K price bracket at 0.8 months and overall it is at 1.1 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 declines slightly to 1.0 months worth across all price brackets.
The average sold price in November was $303K which is down $6K from prior month of October. Meanwhile, the median sold price was $295K in November, down $2K from the prior month. The average price of the active listings was $420K as of the end of November while the median price for the active listings was $397K for the prior period.
New real estate listings in Gresham (last 3 days):