Market Talk! S.Oregon Real Estate for October 16.

It’s amazing how steady Southern Oregon’s Real Estate Market really is week in and week out.  We’ve seen a leveling off of activity in some areas but overall demand remains high while inventory has his historic lows in our market.  Take a look at last week’s stats.  They bear out the consistency in the market with pending and closed sales out stripping  the inventory to replace it.  As a result, prices are up 11% in Jackson County, and 9% in Josephine county in the past year.
On Southern Oregon’s Real Estate Show this weekend Pete and Alice Lema share real time real estate scenarios buyers and sellers are facing as the market shrinks causing more competition for housing.  We give specific advice on how to combat this situation and how other buyers and sellers are handling it. Always informative and fun, this episode is filled with real estate news, stats and information you’ll find no other place.  Join us Saturday, October 17, 10 am and Sunday October 18, at 6 pm , KCMX AM 880 radio and of course video at Youtube.com/realestateshoworegon. Please tell your friends.

The big demand in housing is a reflection of low interest rates that have kept the housing market churning for months now.  These rates have basically not changed in weeks.  They remain historically low and we’re seeking not only demand for housing but also refinancing on existing homes.  Check out the latest rates below. Can you believe a 2.75%, 30-year fixed rate.  No wonder buyers are scrambling to take advantage of this.

Even though we are seeing pricing spikes because of low inventory, nationally our statistic of the week shows that the Asking Price of Homes by sellers peaked on August 30.

It’s also Fall and this is generally the time prices fall especially heading into the winter selling season. Even so, this is a good indication the market is changing a bit with sellers reaching their asking price peak.

The photograph above is actually my new world.  Since the Almeda Fire destroyed my home, I have relocated to Klamath Falls on my 10 acre farm bought last October. Its an ideal setting really, near the airport runway so I can watch jets take off and land from my porch. Not bad.  I am in the transition to a new life w my family here and of course operating as the John L Scott Klamath County agent.
Call or text anytime to 541 621 7036.
Have a great week.!