Market Talk! S.Oregon Real Estate for August 30

It’s the end of Summer which has turned out to be been relatively mild with only two days of temperatures over 100.  Southern Oregon’s Real Estate Market isn’t quite that hot, but it remains steady as we enter the Fall Market Selling Season. Take a look at last week’s stats and you’ll see where sales are taking place.

Whenever a home inspection takes place – one of the most common areas called out for potential hazards are electrical issues.  On this Saturday’s Real Estate Show, KCMX AM 880 at 10 am,  Brett Beal, Welburn Electric’s Service Manager shares what buyers and sellers need to know about electrical issues and what they mean to a sale.  You won’t believe some of the situations he finds at various properties.

Alice Lema, Brett Beal, and Pete Belcastro at KCMX Studio.
July Housing Numbers have been released by the NAR showing median pricing, rental rates and inventory stats.  One note, Jackson County’s average rental is $1,300, below the national average, which is good for renters, but still awfully high.
Speaking of inventory levels, Jackson County saw a 12% increase in inventory levels from a year ago, while Josephine County inventory dropped 10.4% during the May-July period.  Residential sales were down less than 1% in Jo County, while Jackson saw a drop of nearly 10%.  The good news is rural properties bounced back nice with sales up in both counties across all acreage categories.
This news is certainly driven by interest rates which this past week saw a drop in several areas as indicated by green numbers below.
And finally, Realtors contribute in many ways to our local communities and beyond.  Example, Realtors are building a Habitat House in Rogue River City this year.  The photograph below comes from Tanzania, where my Rotarian friend Angelica Ruppe, is a Maryknoll Lay Missioner.  This photo shows some of her students with new soccer and basketball’s that I support her students with each closed transaction. She says they are used day and night and these kids have never real athletic balls before.
Finally, as Summer Ends we turn our attention to Labor Day Weekend.  We honor the working people who support our communities.  Enjoy the weekend.
For any real estate information contact us anytime.
Pete Belcastro,   petebelcastro@johnlscott.com
call or text:  541 6721 7036
Alice Lema     alicelema@alicelema.com
call or text:  541 301 7980.  Have a terrific Holiday.  See you next week.