Southern Oregon Market Stats
July 1, 2020 to Sep 30, 2020
By Jake Rockwell
Its seems that every time the stats come out we are seeing similar observations, low inventory and a competitive buyers market. This month of course if no different, yet what some of the numbers wont reflect as of yet is the outcome and impact of the recent fires that took place in Phoenix/Talent areas. Our housing market was already at a point of shortage with inventory, with buyers becoming ever so competitive. Yet, now the numbers of buyers on the market has dramatically increased with the overall availability for inventory decreased by hundreds of homes, with a recent count of 2300 structures lost. However, the resilience of the community is inspiring, not only with the outpouring of support, but as we are seeing it reflected in the real estate market, seeing many new buyers looking and having the courage to pick up everything and move forward!
- Median home prices in Eagle Point went from $339,900 in 2019 to $405,250 in 2020 in NEW urban home sales up 19.6%
- The highest percentage of 5-year increase belongs to the EXISTING URBAN HOMES SALES in West Medford, from $142,000 to %241,500 a change of 70.1%.
- The highest single year increase was Phoenix at 37% from $263,500 to $360,890. Next years numbers will be interesting to see how they are reflected to this sector of the market specifically.
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