The Gresham real estate market finished January with 70 closed sales, which is down from the 98 & 117 recorded during the prior months of November and December respectively. Of the 70 closed sales in January, 5 were distressed properties (foreclosures/short sales) representing 7% of the closed sales for the month. As of the end of January, distressed properties accounted for 15% of the active listing inventory. There were 2 closed sales of homes valued over $500K during January and a total of 4 over the three month period of November – January.
The inventory level is lowest in the up to $250K price bracket at only 0.4 months and overall it is at 1.2 months worth across all price brackets based solely on the January Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture decreases slightly to 0.9 months worth across all price brackets.
The average sold price in January was $297K which is up $2K from prior month of December. Meanwhile, the median sold price was $289K in January, down $4K from the prior month. The average price of the active listings was $443K as of the end of January while the median price for the active listings was $418K for the prior period.
New real estate listings in Gresham (last 3 days):