The Newberg real estate market finished July with 49 closed sales which is between the 40 & 55 closed sales in the prior months of May and June respectively. Of the 49 closed sales in July, 1 was a distressed property (foreclosures/short sales) representing 2% of the closed sales for the month. As of today, distressed properties accounted for 1% of the active listing inventory as well. There were 9 closed sales of homes valued over $500K during July and a total of 29 during the three month period of May – July.

The inventory level is lowest in the up to $250K price bracket at only 0.4 months and overall it is at 2.2 months worth across all price brackets based solely on the July Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture remains steady at 2.3 months worth across all price brackets.

The average sold price in July was $386K which is a decrease of $12K, compared to $398K in June. Meanwhile, the median sold price was $335K in July, down $44K from the prior month. The average price of the active listings was $674K while the median price was $427K as of today.

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