Southern Oregon Market Stats
Jan. 1, 2020 - March 31, 2020
By Jake Rockwell
The market is continuously changing especially now with the Covid-19 outbreak and while we wont know completely how this effects the real estate market until the coming weeks and months, it is important to note that this first quarter has proven very strong. With average days on market down and listing to sales prices up, homes are selling faster and often for more than their asking prices. Our business at Rockwell Group alone is up nearly 70% from this time last year!
While we can expect change given the current market, it is important to remember that the current market downturn is unlike that of the market crash of 2008. Meaning, the framework of the recession in 2008 was a culmination of many housing related upsets, much of which have been remedied with laws an restrictions put in place to prevent a recession like that of 2008. Also, it is important to note that the recession was long coming, building over many years.
The current economic downturn is not at all a foreseen and completely symptomatic of the swift onset of the Covid-19 virus outbreak. We are optimistic that when the virus has passed that we will see a swift return to the market upturn as things return to normal and possibly even a spike in the market as people not only return to work but are utilizing their stimulus dollars. We are anxious to see this virus subside and the economy return to the rapid growth that we experienced in this prosperous first quarter.
- Shady Cover/Trail has seen a near 100% increase in list price in a five year period from $174,450 to $344,900
- Central Point has seen growth in particularly new home sales prices up 63% in a five year period
- The Jackson County has seen a nearly 25% decrease in home sales in the past year affecting almost every city within it.
- Southeast grants pass has seen a nearly 70% growth in sales price over a five year period from $173,950 to $295,000
- For rural home sales properties under 5 acres have gone up on price over a one year period from $294,500 to $361,000 while properties over 5 (up to 10)acres have decreased in price from $333,500 to $329,000
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