Market Talk! S. Oregon Real Estate Oct. 5
Welcome to October! The Fall Selling Cycle is underway yet across the board sales are continuing with prices remaining strong. How do we know this, check out our weekly stats below and it shows the markets are having more pending sales than new listings. So inventory is shrinking.
Property Insurance is two words that can become conversation starters. There are so many types of property insurances available that its difficult to really know what is the best type to have or how much coverage do I really need. We asked Dave Hallett of Farmers Insurance of Medford to join us on this week’s Real Estate Show to sort out this dilemma so many homeowners face.
LR Alice Lema, Dave Hallett and Pete Belcastro at KCMX.
The show on radio, Saturday, October 5, 10 am, on AM 880. Always on YouTube at Real Estate Show Oregon.
We often talk about housing shortages across the USA. Locally, Jackson County saw 92 new homes built in the last three-month rolling quarter stats. Josephine County had only 12. Both counties need more and both need small units for people who don’t want or need a three-bedroom, two-bath single-family home. Across the country, new home construction is seeing the largest gain in many years.
The median price of a newly built home in Jackson County $349,900 and $296,450 in Josephine C0unty.
Yet, we believe this market is being maintained in large part by low mortgage interest rates. This past week’s rates remained steady. We really like seeing green numbers in the chart below but as long as we don’t see red, we’re good there too.
Which leads us to Fall Buying and Selling. You often hear Realtors say ” its a good time to buy” or “it’s a good time to sell.” We know most sales take place in the Spring and Summer. So is Fall a good time to sell?
The reason I believe the statement to be true, is we have what I call Buyer Demand. Lots of people are looking for property of all types. Plus, inventory is not keeping up with pending sales.
We love talking Real Estate with you or hearing your comment.
Pete Belcastro firstname.lastname@example.org
Call or Test 541 621 7036
Alice Lema email@example.com
Call or Text 541 3017980.
Have a Great Week!