Market Update Dec 5 2023

Market Update Dec 5 2023

Full Video Update Below

December 4th, 2023 Southern Oregon Housing Market Update

[00:00:00] Well, hey, real estate fans. Welcome back to the Weekly Market Statistics for Southern Oregon Housing. I'm Alice Lema, broker at John L. Scott here in Southern Oregon. And this is for the week ending Monday, December 4th, 2023. Now we're starting to see some changes and little by little, we keep talking about that.

And here we are headed into the holidays and Jackson County prices year over year are up 28% from this time last year. Now, keep in mind, this is a residential single family homes only. But the average Jackson County single family home is now selling for 510, 099. So way to go. Jackson County. The number of solds in Jackson County here over a year this week were up 2%. There were 39 residential closings in Jackson County. Number of listings year over year are only down 8 percent. In the residential market we had 658 [00:01:00] properties on MLS this week. We had zero foreclosures in Jackson County in the residential market, zero short sales.

But we did have three more million dollar closings. One in Ashland for 1.5 million. One in Eagle Point for 1.1 million, and another one in Ashland for 1.0 million.

Josephine County prices are also up, year over year this week, 28%. With an average single family home selling for $558,456. So kudos to josephine County for that. The number of sold year over year only 4 percent in Josephine County. And we had 23 closings in Josephine County this week. The number of listings year over year are down only 5%. We had 322 on the market in Josephine County this week. We had zero real[00:02:00] foreclosures closing. We had zero short sales in Josephine County close. We had 1 million property in Grants Pass so this week for 1. 1 million. So look at that two counties in a row.

Let's look and see what's going on with Klamath County. Klamath County this week, year over year, prices are up 8%. The average residential home selling for . Sorry about that. And so that's all three counties are up year over year this week. So we've been waiting for that. The number of solds this week, year over year in Klamath County are neutral. It's the same as it was this time last year with 13 residential closings in Klamath County. Number of listings is also neutral year over year this week in Klamath County at 240 active listings on the MLS. And Klamath County and zero short sales, zero foreclosures and zero million dollar closings in Klamath County.

So we're starting to [00:03:00] get some traction. It's very, very busy right now. We have a lot of people buying. A lot of people putting their house on the market, but we're still short of what we really need to meet the buyers, the number of buyers that we have out. So, once again, another plea going out. You're thinking of selling anytime in the next two years. Think about doing it now. You still have less competition. The interest rates, we're just dealing with it. The buyers are dealing with it. They're figuring out and there's been a little bit of reduction in the rate since A few months ago.

So with that in mind, I'm around all weekend. Give me a call. Give me a text. My number is 541 301 7980. Great listing agent. Great buyers agent, on top of the market in three counties and great with rural property. First time home buyers, people downsizing, upsizing, whatever you need. Give me a call. We can take care of it.

And also want to remind everybody this [00:04:00] is a great time of year to start talking to your family members about updating estates, wills, medical directives, things like that. Not to be a Debbie Downer, but you're all going to be together likely, or at least talking to each other on the phone. So start having those conversations. If you have not done any of that, get on it. And if you have done it, but it's been a long time, get it updated. If you need some help or you need some greatest state attorneys, I've got a bunch of them. So that's it for now. Have a beautiful rest of the Southern Oregon weekend. Hug those you love. Bye now.

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