Sherwood Oregon Real Estate Market Update-March 2011

The real estate market in Sherwood Oregon finished January with 20 closed sales, which is close to the 18 & 26 closed sales recorded during last December and November respectively.  Of the 20 closed sales in January, 9 were distressed properties (foreclosures/short sales) representing 45% of the closed sales for the month.  There were 2 closed sales of homes valued over $500K during January and a total of 3 sales over the three month period of November – January.

The inventory level is lowest in the $251-500K price bracket at 7.2 months and overall it is at 10.0 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 improves slightly to 9.4 months worth across all price brackets.

The average sold price in January was $323K which is an increase of $54K, compared to $269K in December.  Some of that increase was driven by a $1.2MM closed sale in January.  Similarly, the median sold price in January increased to $273K, up from $250K in December.  The average price of the active listings ($415K) decreased $21K from the last reading in February while the median price for the active listings ($299K) declined by $17K over the prior month.

To see the full details of this market update along with all active real estate listings in Sherwood, click on the above link back to our Zillow profile page and then click on the link for our blog.  We welcome your questions or comments!

  • March 03 2011 - Sherwood
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