Oct. 1 2019 to Dec. 31 2019

By Jake Rockwell

Southern Oregon real estate market showed some strong signs with an increase in number of homes sold as well as average sales price being up. We continue to see double digit increases median sales prices in Ashland, West Medford & Central Point.

Some Key Take-Aways:

  • The 4th quarter, year end market statistics, and real value reports are now available for Jackson and Josephine County. 
  • Both counties posted positive gains in median home value appreciation in 2019 with Jackson County up 4.5%, and Josephine County up 6.8% over 2018. Appreciation was found in new home sales for both counties as well.  In contrast, distressed sales amounted to less than 2% of overall home sales for the year.
  • The 4th quarter shows a strong finish to 2019 for both counties.  The one year change over 4th quarter 2018 for Jackson County was 7.1%, and 8.7% for Josephine County.  Meanwhile inventory for both counties is down significantly, with Jackson County down 21.4% and Josephine County down 27.5%.
  • In short, prices are up, inventory is down, and we are entering 2020 with strong sustainable momentum.  Interest rates and financing terms are favorable at the moment too, creating affordable housing scenarios for many looking to purchase. 

Links to Stats:

 

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