Market Update April 22, 2023
Market Update April 22, 2023
Full Video Transcritpt Below
Market Update April 22 2023
[00:00:00] So check it out. In Jackson County, our year over year prices are down 6%. That's not very much, but they're down 6%. And the average cost of a home in Jackson County right now, and this is residential only, is $476,000. Now, that's not to say that there aren't better deals. This is an average. And for the first timer, we still have properties in affordable price ranges, and the prices are down 6% now.
The number of properties in Jackson County, sold residential again, are down 45%. But they're down 45% because we have a housing shortage. We have a listing shortage. Jackson County is down 16% in their listing inventory from this time last year. And the foreclosure and short sale activity folks, it's just like almost next to nothing.
Jackson County this week had one short sale close and we had one foreclosure close. So [00:01:00] really that's way below normal market activity for foreclosure and short sales. Josephine County a great alternative. The prices year to year are down 7%. Just slightly more than Jackson County, the average price in Josephine County this week year to year, and again, residential $439,000.
But again, you can still get better deals than that if you want, and you can talk to me about that. Offline the number of properties sold in Josephine County, again, this is residential, they're down 28%, but the reason the number of solds year to year in Josephine County are down 28% because we don't have anything to sell.
So, again, here's where sellers need to listen up because you've got a great opportunity. The number of listings compared to this time last year in Josephine County are down 21%. See, it's the shortage. It's the shortage of listings and places to sell. And again, our foreclosure activity this [00:02:00] last week in Josephine County with zero, our short sale activity was zero.
Klamath Falls is the rising star. So congratulations to you Klamath County. The prices year over year are up 7%. The average price in Klamath County, 317,000. Now again, the number of solds down in Klamath County, they're down 37%. I sound like a broken record. They're down 37% in Klamath County because there's not enough sellers putting their house on the market. Klamath County number of listings is down 8%, and again, we have zero foreclosure and zero short sales sold in Klamath County last week. So, Millennials, this is your time. If you don't have a down payment, we can still talk about some possibilities. There is a U S D A loan program is zero down payment, but it is a little more expensive [00:03:00] and there are rules about how much money your household can make.
There's a limit on income and you have to live outside of town. But this is Southern Oregon. It's why we live here. We all wanna live out of town anyway. There's also friends and family, there's partnerships. We've got a lot of videos on my YouTube channel. The Alice Lema YouTube channel. So you can go there and get educated in just a few minutes about the ins and outs of those kinds of arrangements.
You can also get multifamily. You know, it's great for your first purchase to be your future rental. There's amazing exponential wealth building in doing that. So think about buying a duplex, a triplex, or fourplex, and you can also live there. You can buy it with your friends or family. It's a great it's a great business model.
So let's talk about all these different possibilities. My number is 541-301-7980 Would love to be your agent. So yeah, hit me up. I'm around all weekend. In the meantime, we'll [00:04:00] see you next week. Hug those you love. Bye now.