Market Update April 15, 2023

Full Video Transcript Below

Market Update April 15 2023

[00:00:00] Well, hey everybody. Welcome to the market update for Southern Oregon for the week end being April 15th, 2023. Jackson County. Year to year. Average price is 505,000, that's from April, 2022 to April, 2023. That's up 3% for Jackson County, but the number of properties sold, and again, this is residential number of properties sold year to year in Jackson County is down 26% and the number of listings are down 18%.

So I think that's pretty respectable that you can have the 26% decline in number of properties sold, and 18% decline number of listings in Jackson County still hold a 3% bump in prices. Now, as promised, we're tracking our short sales and foreclosures. We had zero short sale closings this week and zero foreclosure closings this week.

And let's start adding in tracking of the million dollar [00:01:00] properties. So we had zero million dollar properties closed this week, but we've two in the last 30 days in Jackson County.

Josephine County is also holding their own but slightly different numbers. The year to year prices in Josephine County are 455,000. That's a 0% increase, so that means it's exactly the same as it was last April. Check this out. There's a 20% decline in the number of properties sold year to year in Josephine County, and an 11% decline in number of listings in Josephine County year to year. So again, I'm thinking that's pretty respectable.

Even though we don't have a price increase or decline, they're still absorbing a minus 20% in number of properties sold, and a minus 11 in number of listings in Josephine County. Let's get to our short sales and foreclosures. This week in Josephine County, we had zero foreclosures [00:02:00] closed and zero short sales closed.

Let's do our million dollar property. That's zero million dollar properties closed in Josephine County this week. But it'll be fun to start tracking the million dollar property against the foreclosure and short sales for the rest of the year.

Now, Klamath falls, our year to year prices are averaging $325,000, and that is a 7% increase year to year. So good for you. Klamath Falls, it's becoming very popular up there now. That 7% bump up is still with a minus 25% in the number of residential properties sold, and a minus 16% in the number of listings. Short sales this week we had zero closed in Klamath Falls, foreclosures.

We had zero closed in Klamath Falls this week, and our million dollar properties we had zero close, but again, it'll be fun to track. So that is our Mark market update [00:03:00] for Southern Oregon, Jackson, Josephine, and Klamath Falls.

I'm Alice Lema. I'm a broker at John L. Scott here in beautiful southern Oregon. I am a great listing agent. Great buyer's agent, great with investments, first timers, downsizers, rural property river. Real estate's my bag. Would love to help you with your next real estate step. So please gimme a call. Gimme a text, 541-301-7980. You can also check out everything for sale in Southern Oregon on my website, AliceLema.com, and also tune in to our radio show.

We have a real estate radio show every week. On K C M X FM 99.5. It's Saturday at 10, Sunday at six, and you can also see it on YouTube. So there you go. We'll see you next week.