Welcome to this week’s Real Estate Market Talk. And talk we do. We are working our way through the Winter selling season and as you can see from the November to November comparisons, the market continues to normalize and remains quite active as Christmas approaches.The biggest take-away’s from these stats –average days on the market is up 37%, and sellers received 94.5% of their listing price, indicating the market is normalizing as buyers are negotiating better deals.
We have talked about the two-markets we are currently seeing. The chart below showing listings in the Premium and Luxury market 68% in a year, while lower priced starter and trade-up homes inventory increased slightly. Jackson County is following in this trend, we have known about this for most of 2018.
We continue our Winter home inspection tour so to speak, on this week’s Real Estate Show on KCMX AM 880, Saturday 10 am. Kelley Skudstad from HouseMaster, joins us as we look at ways to get your home winterized and upkeep during winter months. This show is presented by the Rogue Valley Association of Realtors. On last week’s show Traci Hughitt shared with us about home warranties and when and how they can be used in a real estate transaction.
Traci Hughitt, First American Home Warranty, at KCMX Studio.Nobody knows where interest rates will go in 2019 but this past week, mortgage rates actually retreated a bit to range of 4.875 to 5.5% for a 30 year fixed rate. Look at what mortgage rates have been in the last 45 years. We are really in a good spot aren’t we. A lot of us remember when rates were much higher. My first house in K Falls in 1979, interest rate was 9.5%.
This week in real estate. Take a look at the latest week’s activity from Jackson and Josephine counties. Activity throughout the area for sure. Of course it varies by neighborhood and town and of course price.
For any real estate questions you may have, please contact me anytime.
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Have a great week!