Market Talk! S Oregon Real Estate for May 15.

Southern Oregon’s Real Estate Market is performing better than most anyone would have expected with COVID-19 hit us in March.  Now as Southern Oregon counties begin to re-open what should we expect the real estate market to do?  Check out last week’s stats and you’ll notice that new listings are not keeping up with pending sales and sold properties.  This is usually the time of year when new listings outstrip the others.

What’s also noteworthy is that across the three-county area last week there were 151 properties that went pending status.  It shows you how much activity is taking place.
Well, how is the real estate market changing the way business is conducted as a result of COVID-19 shutdowns?  We put that question and others to Tina Grimes and Devin Zupan from the Rogue Valley Association of Realtors.  They share how business in being conducted today and share the latest SOMLS housing stats for April.

Radio broadcast, KCMX AM 880, Saturday, May 16, 10 am.  Lenders are as busy as real estate brokers with interest rates amazingly low and affordable for many buyers.  Check out some of the latest rates below.  Is it possible rates could end up in the high 2% range? They are almost there now.
While reopening business is a huge priority for many, a pending drought is of concern to many others. Ranchers tell me it’s as dry in mid-May today as it would be in mid-July.  In looking at Talent Irrigation District reservoir levels there isn’t much blue shown.  Emigrant Lake is only 70% full.  The others are in a lot worse shape.
Finally this week, all the talk is about reopening businesses and how much, if any, things have changed. Real Estate has changed how we do business and so will others. Please support local small businesses, they need our support to survive.
If you have real estate questions, please call or text us anytime.
Need real estate advice?  Property evaluations?  We love talking Southern Oregon Real Estate.
Pete Belcastro  541 621 7036
Alice Lema 541 301 7980.
Have a great week ahead!

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