Market Talk! S. Oregon Real Estate for Sept. 20
Seems like this past week we went from full-on Summer to mid-Fall cooling rains in a matter of hours. Our Real Estate market, however, has not experienced such a dramatic change from the previous weeks activity. Check out the stats below and see what we mean.
Oregon’s Legislature considered a number of bills this past session dealing with land use, rent control, and multi-family units built-in single-family zones. Matt Brinkley, heads Medford Planning Department, and he joins us on this week’s Real Estate Show, Saturday, 10 am on KCMX AM 880. We get a first-hand account of any planning activity on the horizon regarding these new housing rules.
L-R, Alice Lema, Matt Brinkley and Pete Belcastro at KCXM Studio. The month of August brings about a change in the selling cycle. In comparing these months, it generally follows a pattern we have talked about for some time. Listings were down, while sales were up in the latest SOMLS report seen below.
We’re continuing a slow roll toward a normal market with a six-month inventory of available homes. In Jackson County, the last rolling quarter stats showed a gain of value across the county of 4.9% and 5.4% on rural properties. Josephine County figures show a residential price gain of 8.8% overall and 1.6% on rural sales. The charter below shows the national averages, of which our values are rising faster.
And finally this week, we’ve seen the first wholesale rise in interest rates in a long time. The red figures below are indicative of a higher rate this week than last. Ranges, of course, vary by lender and circumstance. Let’s hope we see green numbers next week.
We love taking real estate with you anytime and answering any questions you may have. Contact us anytime:
Pete Belcastro petebelcastro@johnlscott.com
call or text to 541 621 7036
Alice Lema alicelema@alicelema.com
call or text to 541 301 7980. Have a great week.
