Market Talk! S.Oregon Real Estate for Dec. 13
Bundle up! Winter has arrived in S. Oregon and Real Estate Sales are always affected by it. Yet, while we are in the Winter Selling Cycle, there are opportunities for buyers and sellers in the market that will not exist in a few months. First of all, let’s compare November 20018 with 2019 below.
The biggest story is that pending sales are up 21%, while listings are down 18% from a year ago. Average days on market increased by 20% during the same time. Average median price rose 5.5% for the month too, giving a steady increase in value overall. Americans still believe that housing ownership remains the safest investment in the next 10 years.
Our market remains very active with Fall sales showing the strength of our market. The MLS stats below show Jackson County’s last three months’ activity.
Check out this week’s Real Estate Show on KCMX AM 880, Saturday 10 am. Also YouTube Video. Colin Mullane, Past President of the Oregon Association of Realtors joins us for a discussion on current market conditions and what the future holds for the S. Oregon Market.
(Alice Lema, Colin Mullane, Pete Belcastro at KCMX)
If you have any interest in S. Oregon’s Hemp Business then you’ll also want to check out our show with Mark Taylor of the So Oregon Hemp Cooperative. Mark shares with us the trials and tribulations of the 2019 Hemp Harvest and what went right and what went wrong and what the future holds for Hemp in our valley. A very fascinating show you’ll enjoy and learn more about this new industry and what it faces in the future.
(Above Alice Lema, Mark Taylor and Pete Belcastro at KCMX)
Mortgage Interest Rates remain historically low and that means more opportunities to enter the first time home buying market. The estimated rates are shown below. Rates have remained relatively unchanged in the last few weeks.
Finally, in 2019, 9.8% of Americans relocated to a new residence. That figure represents close to 35 million people relocating. However, that 9.8% figure is the lowest yearly total since 1947-1948. Why? Answers might include, 1) no replacement property available to move; 2) working at home more often; 3) have a low-interest rate currently; 4) Seniors staying longer in homes and fix them up for older citizen s.
Why else are people staying longer in their homes? Please contact Pete or Alice for further real estate talk.
Pete: petebelcastro@johnlscott.com
541 621 7036
Alice: alicelema@alicelema.com
51 301 8930
Have a great week ahead!