Foreclosure Update 2023 

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Housing Market Update Sept 12 2023

 [00:00:00] Welcome back real estate fans. Welcome back to market statistics for Southern Oregon this is the week ending September 12th, 2023. I'm Alice Lema, I am a local real estate broker here in Southern Oregon with John L. Scott real estate, and we've got more good news. We're building on the last few weeks of bits and pieces of good news.

Let's start with Klamath County. First, Klamath County prices year over year are up this week 13 percent. Congratulations, Klamath County. See, our little recovery is starting to get some legs. Average single family residential home in Klamath County will now cost you $334,328. The number of solds year over year this week in Klamath County are down five percent, not much. We had 17 closings in the residential market in Klamath County this week. Number of listings year over year are up this week in Klamath County, 25 percent, yay, [00:01:00] and that means we had 290 single family homes on the market in Klamath County this week. We did have one foreclosure closed in Klamath County this week. It was in Bonanza. It had only been on the market 12 days. It was a double wide. It closed at below market at 190, 000. We had zero short sales closed in Klamath County this week and 0 million sales closed in Klamath County this week.

Josephine County prices year over year were down only 5% to an average $428,248. The number of solds in Josephine County year over year are up this week 12%. Congratulations. See more good news. We had 18 single family residential closings in Josephine County this week. So 18 closings ,the number of listings year over year in Josephine County still down, but it's only down [00:02:00] 9% to 361 single family homes on the market in Josephine County this week. So you can see. Each county is having a little bit of good news and still struggling in, in a area or 2. Josephine county had 0 foreclosures close this week. We did have 1 short sale close in Josephine county this week. It was on the market 27 days in grants pass. It closed below market at 385, 000. Josephine County had 0 million sales.

Jackson County has a lot to crow about. Prices are up this week, year over year, 23 percent in Jackson County. Congratulations. The average single family residential home in Jackson County now costing 589, 842. The number of sold year over year in Jackson County this week are up 20%. Congratulations again. We [00:03:00] had 59 closings this week in the residential market in Jackson County. The number of listings year over year in Jackson County are still down. They're down 17%. We had 711 single family homes active on the market in Jackson County. The big, big news, well, let's first say we had zero foreclosures and zero short sales close in Jackson County, but we had 6 million properties close this last week in Jackson County.

We had Two of them in East Medford. One sold for under full price, one sold for full price. They were both right around a million dollars. We had a cash transaction we had three of the six were cash transactions, one for a 1. 1 million in Southwest Medford, one for 1. 7. million in Jacksonville won an Eagle point for 2. 1 million and one in Southwest Medford for 1. 1. So 6 million or more [00:04:00] closings in Jackson County.

That tells us that we are getting some legs in our recovery, but we got to keep watching week to week. We're glad to have a little bit of good news in each County. We're still waiting to have all of the categories and all of the counties going in the same direction.

We'd like to see it go up, but that's what trend analysis is like. We just have to watch it every week. In the meantime, how about you give me a call or a text and let's talk about doing something in your real estate life. My number is 541-301-7980 we've got a lot of good deals happening right now.

The prices are not down very much, but they're down a little bit. It's a great time to buy. It's also a great time to sell because even though we are getting more listings on the market right now, this fall, there's still more buyers than [00:05:00] sellers by a little bit. Okay. One of those rare times when it's good to buy and good to sell.

That doesn't happen every, every day. In the meantime, stay tuned for our statistics update. Next week, we also have a podcast every week and a real estate radio show. So lots and lots of content to keep you informed so you can be a good consumers and make the best decision possible for you and your family.

Have a great weekend. We'll see you next time.