Southern Oregon Market Stats
Aug 1st, 2021- Oct 31st 2021
By Jake Rockwell
Pouring over the numbers month after month gives an interesting perspective, being able to look at the numbers as they continue to increase month over month and year over year. Homes selling quicker and quicker, even through the pandemic and it's long lasting effects through economic recovery, now the data shows us across the Rogue Valley less and less inventory and homes selling even quicker.
Yet, our offices alone last month listed exactly 32 properties in just 31 days. Personally, it feels as though an adequate amount of homes are coming on the market but are just selling so much quicker. Coupled with statistics showing more and more permits for new builds and growth across the nation during this past year, it feels as though the market is gaining inventory. From the perspective of a licensed real estate agent these factors are starting to show a bit of redirection and market correction as the inflated home prices are starting to come down but only just slightly. When homes are priced at what would've been market value 6 months ago, they are sitting just a little longer (just a matter of days) and subsequently we are seeing more price reductions. These corrections are slight and the market is still aggressive with median sales still
Key Take-Aways:
- Existing Median home sales price went from $255,000 in 2016 to $380,700 in 2021
- New Urban Median home sales price went from $286,000 in 2016 to $430,000 in 2021
- Rural median sales have jumped the most during this timeframe up 51.6%
- Residential inventory went up by 33% from last year to now from 424 to 566
Links to Stats:
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