The Newberg real estate market finished August with 59 closed sales which is up from the 55 & 50 closed sales in the prior months of June and July respectively. Of the 59 closed sales in August, none were distressed properties (foreclosures/short sales) representing 0% of the closed sales for the month. As of today, distressed properties accounted for 0% of the active listing inventory as well. There were 11 closed sales of homes valued over $500K during August and a total of 27 during the three month period of June – August.
The inventory level is lowest in the up to $250K price bracket at only 0.5 months and overall it is at 1.8 months worth across all price brackets based solely on the August Closed Sales Rate. Looking back over the last three months average closed sales rate, the inventory picture remains steady at 1.9 months worth across all price brackets.
The average sold price in August was $406K which is an increase of $21K, compared to $385K in July. Meanwhile, the median sold price was $375K in August, up $43K from the prior month. The average price of the active listings was $666K while the median price was $432K as of today.
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