Market Update June 21 2023

Market Update June 21 2023

Full Video Transcript Below

June 21st, 2023 Housing Market Update Southern Oregon

Alice Lema: [00:00:00] Hey everybody. Alice Lema here broker John L. Scott in beautiful southern Oregon with another edition of the Market Statistics. This is for the week of June 14th, 2023, ending June 21st, 2023. Just a reminder, these are residential, single family home statistics only. Other kinds of real estate have other kinds of numbers.

We can talk about those with you directly. Jackson County let's start with that. Jackson County prices year over year are down only 3% right now to an average $516,371. The number of solds year over year in Jackson County are down 26%. Just not enough inventory. The number of listings year over year are down 13%. Our foreclosures closed this week. We have one in Central Point that closed for $197,500 was all cash purchase. The number of [00:01:00] short, short sales closed in Jackson County this week are zero. The number of million dollar properties that closed this week, we have one for $1,250,000 in Jacksonville. It was a 4,123 square foot house on 0.94 of an acre.

Josephine County prices year over year are down only 9%, and the average home in Josephine County will now cost you $468,359. The number of solds year over year in Josephine County are down 12%. The number of listings year over year in Josephine County are down 11%. The foreclosures closed this week in Josephine County are zero. The number short sales closed this week in Josephine County are zero, and the number of million dollar residential single family homes closed in Josephine County this year, sorry, this week [00:02:00] are zero.

Klamath Falls prices year over year are down 21% to an average $315,758. The number of solds year over year in Klamath Falls are down 10%. The number of listings year over year in Klamath Falls were up 2%, so we're starting to see a slight uptick in Klamath Falls on number of listings. The foreclosures closed this week in Klamath Falls, we did have one. In Chiloquin that closed for $160,000, and it was a stick-built house conventionally financed. Short sales closed this week in Klamath County were zero and million dollar residential properties in Klamath Falls closed this week were zero, so we tracked this every week. We're starting to see micro changes mostly in Klamath Falls as far as starting to have a little bit of an uptick there.

Jackson County we're starting to see a, a smaller [00:03:00] amount of price changes from this time last year. Next week in the following four to eight weeks we're looking for some bigger changes in our year over year numbers. So stay tuned. Our market does seem to be rebounding. We're not looking for any big upticks between now and the end of year, but we're still predicting maybe a three to 4% appreciation across all counties. So check with us again next week. Hug those you love, and have a great week. See you next time. Bye now.