Market Talk! S Oregon Real Estate for May 31.

Today marks the end of what is traditionally the three busiest Real Estate months of the year. The next SOMLS stats will determine if that is true.  One thing for certain, inventory has increased across all price bands.  Check last week’s stats showing the latest Market Update Info for Jackson and Josephine counties last week.
One note of interest shows Sellers received 98.61% of their listing price in Jackson County.  That means Sellers are pricing their homes nearly to their sale value.
Do you own a private well?  If so, then you’ve got to listen or watch this week’s Real Estate Show.  James Dennis, co-owner of Rogue Valley Pump Service joins Joe Brett, Alice Lema and me  on a wide-ranging discussion regarding wells.  Things like water purity, new types of filtration systems and a lot more. 

James Dennis, Alice Lema and Pete Belcastro at KCMX Studio.
Show airs on radio AM 880, Saturday, June 1, at 10 am. Watch it on You Tube at Real Estate Show Oregon.  How does Real Estate stack up again other long -term investment opportunities?  Americans weren’t too keen on it after the Great Recession as shows below in 2011. But look where it is today?  Real Estate is back on top as American’s Choice for Long-Term Investment.One of the reasons our market continues to perform well is that Mortgage Interest Rates have not risen as predicted a few months ago.  In fact, they continue to go down.  The chart below shows these rates are approaching back into the high 3% range.
These lower rates may be the single biggest reason the market is enjoying itself.   This may not be the case in the luxury home market as inventory has far outstripped demand and Jackson County currently sits on a 24-28 months supply of luxury home inventory.  These are homes $750,000 and above.
Onward we march into June.   Please call or text with any Real Estate questions you may have.
541 621 7036
Have a Great Week!

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