Market Update Jan 15 2024

Market Update Jan 15 2024 Southern Oregon

Full Video Transcript Below

Market Update Jan 15 2024

[00:00:00] Well, hey, real estate fans. Welcome back to market statistics for Southern Oregon's for the week ending January 15th. And we're going to start with Josephine County today. The prices in Josephine County this week, year over year, were up 15 percent. The average single family residential home now costing $471, 990. Josephine County number of solds year over year were up 25 percent this week with 10 residential closings. The number of listings in Josephine County this week year over year, we're only down 1%. Basically, even there were 269 active listings on S. O. M. L. S. this week.

The number of foreclosures in Josephine County this week, there were two that closed. We had one for 169, 000 in Merlin and [00:01:00] another one in Cape Junction for 140, 000. There were no short sales this week that closed, and there were no million dollar residential sales that closed in Josephine County this week.

Jackson County had a little different picture for their year to date this week. Jackson County prices year over year are down this week. The average single family residential home costing $437, 323. The number of solds in Jackson County year over year were down 17 percent in the residential market. There were 24 closings this week in Jackson County. The number of listings in Jackson County were down only 1 percent year over year. Again, that's basically even. There were 579. Active listings on SOMLS this week. There were zero foreclosures that closed in Jackson County, [00:02:00] but there was a short sale that closed. We hardly ever see those anymore. It was in East Medford and it closed for $513, 000. In the million dollar residential closings there were zero in Jackson County this week.

Klamath Falls prices year over year were down 16 percent. The average single family residential home in Klamath County costing $259, 227 this week. The number of solds in Klamath County are up 175%. There were 11 closings on SOMLS in Klamath County this week. Those kind of spikes are just from the year over year comparison. This week was really slow this time last year. The number of listings in Klamath County are down 12%. There were 197 active listings on SOMLS in Klamath Falls this week. There were two [00:03:00] foreclosures in Klamath County this week. There was one, oh and they were both in Klamath County. One was for 319, 000 and one was for 105, 000. There were zero short sale closings in Klamath County and zero Million dollar residential closings in Klamath County this week.

So as we start winding down our January, we're going to see our year over year comparisons start to change because of what happened this time last year with all of the interest rates increases. And we'll start seeing those as the months come come to pass. Now, we're still needing more listings, and we're coming up with some really interesting ideas for people who have a house to sell in this kind of a low inventory market, as well as if you're actually just downsizing and renting or you're leaving the area.

So look for some of the podcasts coming, not only this week, but [00:04:00] the weeks in the future, because we're going to start addressing a year of low inventory and what we've learned from that and how to, how to still move forward with your real estate dreams. If you have a house to sell and not sure where you're going.

So look for that coming up. We also have some great radio show episodes that are being filmed, recorded on our new radio home, the ACE. AM 1300. So lots and lots of good things happening. We're winding up our January pretty soon and would love for you to give me a call. Give me a text. I want to be your agent.

I'm a great listing agent, great buyer's agent. Great with consultations. Do a lot of work with attorneys. I bet a lot of people don't know that I do a ton of divorce, probate, end of life planning. So yeah, give me a call. Give me a text 541 301 7980 and tune back into another week of market statistics and see how things [00:05:00] change as our spring market takes hold.

Have a beautiful weekend and we'll see you next time. Bye now.

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