Market Update August 1 2023

Full Video Transcript Below

Southern Oregon Market Update August 1 2023

Alice Lema: [00:00:00] Well, hey, Southern Oregon. Welcome to another edition of the market statistics. This is for the week ending Tuesday, August 1st, 2023. And we have a lot going on in our little Valley. We're going to start with Josephine County. This week prices year over year in Josephine County, this is for single family homes, residential only prices year over year in Josephine County are down 3% to an average. $490, 640. The number of solds year over year in Josephine County are down 18% and the number of listings year over year in Josephine County are down 16%. We did have a foreclosure close in Josephine County this week. It was in Grants Pass. It closed for 225, 000. It was on .14 acres. So in town and the house was approximately 1300 square feet and it was stick built, not a mobile home. [00:01:00] We had zero short sales close this week in Josephine County and 0 million residential sales close in Josephine County this week.

Jackson County had a lot going on. So hold on to your hats. The prices in Jackson County year over year are down only 1%. So almost dead even to last year, but the average price is $557,075, which in Southern Oregon that's a bucket of money. The number of solds year over year are down in Jackson County to 21%. The number of listings year over year are down 24%. We did have one foreclosure in Jackson County, and it closed at $285, 000. It was in West Medford on .14 acres, and it was a stick built house of approximately 1200 square feet. We did not have any short sales close in Jackson County this week, but guess what we had six, we had a 6 million dollar residential [00:02:00] sales close in Jackson County this week. So I'm telling you the market is changing as we speak. It's why we run these numbers every week.

But let's do the list of the 6 million sales in Jackson County. We had a 1. 6 million in Talent, 104 acres with a 3400 square foot house. We had a 1. 6 million close in Jacksonville. It was one acre with a 4, 400 square foot house, one in Eagle point for 1. 4 million 82 acres with the 3000 square foot house. We also had a 1 million closing in Ashland, a 1. 1 million closing in Ashland. So two in Ashland and a 1. 0 million closing in Jacksonville. So, wow. Congratulations to all those folks who got their homes sold. It'd be interesting to go back and see how many months it took for each of those million dollar sales to happen, but that's a [00:03:00] different episode.

Let's finish up with Klamath Falls. Klamath Falls prices are up 16% year over year this week. Congratulations, Klamath Falls. The average single family home in Klamath County is now costing $318, 670. The number of solds year over year in Klamath County are down 16%, the number of listings in Klamath County are 13%. So you see, we're starting to see the market change right before our eyes. Klamath County foreclosures. We did have one. So look at that. We had one foreclosure in each county this week. Klamath County foreclosure closed at 120, 000. It was in Klamath Falls. It was a double wide on 169 acres. Klamath County had zero short sales close this week and 0 million sales close this week.

So those are the market [00:04:00] statistics for the week ending Tuesday, August 1st, 2023 for all three counties. That's our Southern Oregon report. I'd love to be your agent. Give me a call. Give me a text. My number is 541-301-7980 I'm Alice Lema. I'm a broker with John L. Scott real estate in Southern Oregon. Give me a jingle. Give me a text. Let's talk about what you want to do to capture some real estate activity in your life till next week. Bye now.