Market Update March 18, 2024

Market Update March 18, 2024

Full Video Transcript Below

Market Update March 18, 2024

[00:00:00] Well, hey, real estate fans. Welcome back to the Southern Oregon podcast for market statistics. I'm Alice Lema, John L. Scott, real estate. Our week last week was stellar, little hard to beat this week. Our year to date numbers are, they're not as drastically moving because the market is showing signs of stability. But we do, we don't have 100 percent great news, but but we still have good news in the right department with an upward trend, which is really what we want to look for long term.

So let's start with Josephine County this week. This is for the week end being March 18th, 2024, Josephine County prices year over year we're down 1%. Basically neutral. The average single family home in Josephine County this week costing 396, 191. The number of sold year over year were up five percent. Yay! That's a good number. There were 18 closed residential sales [00:01:00] on SOMLS this week. The number of listings year over year in Josephine County were up 6%. Hallelujah. There were 274 active residential listings on SOMLS this week in Josephine County. We had zero foreclosures closed, zero short sales closed, and 0 million closed in the residential market in Josephine County this week.

Jackson County prices year over year this week were down 3%. The average single family home in Jackson County this week closing at 450, 587. The number of sold year over year in Jackson County this week were down 17 percent. We're still having some inventory problems. 32 residential closings in on SOMLS this week in Jackson County. The number of listings year over year in Jackson County were at five percent, which is great. We had 635 active residential listings [00:02:00] in Jackson County on SOMLS this week. We had zero foreclosures closed, zero short sales closed, and zero million dollar closings in the residential market in Jackson County this week.

Klamath County Prices year over year were down 12%. Let's see the average single family home in Klamath County this week closing at 314, 800. The number of sold year over year in Klamath County were up 66 percent this week. That has to do more with this week last year being a little on the stinky side, but still a 66% Uptick in number of sales in Klamath County this week. There were 10 closings on SOMLS in the residential markets. The number of listings year over year in Klamath County were down 2 percent this week. There were 213 active listings on SOMLS in Klamath County in the residential market this week. We did have one foreclosure close in [00:03:00] Chiloquin for 63, 000. We had zero short sales close and 0 million million dollar sales closing in Klamath County this week.

Now I do want to take a quick tangent talk about foreclosures in order for foreclosure to show up as a closing as a recorded sale. You know, that means that the whoever the person was that owned a house was not able to sell it or remedy the foreclosure before. It got sold to somebody else. It's a very long process in Oregon. We can talk about that on another podcast. The reason I'm bringing it up is because I was successful in a closing a pre foreclosure, very near the sale date which is hard to do.

I want to say thank you to first American title they went way out of their way to help this family. It was a difficult situation and it had been a year long process trying to get the property sold to [00:04:00] avoid a foreclosure. Most people have plenty of equity in their property because of what's happened in the last four years, four or five years.

But if you are worried about that, if you're worried about a short sale, I do those. I'm very experienced in them. But I want to be your agent regardless. Great listing agent, great buyer's agent do well with real property, first time home buyers, downsizers, work for a lot of estate attorneys and do a lot of probate work, estate work and, and such. So give me a call. Give me a text 541 301 7980. That's 541 301 7980. And let's at least have a conversation. By the way, want to make sure you guys check out the podcast this week. We're talking about the changes coming from the NAR hoopla. And some of them have to do with commission disclosure and a couple of other things. Make sure you check it out. It's not a very long podcast.

And also the [00:05:00] radio show, we had fed week analysis by Guy Giles mid month. I had some surprises from the fed this week. So we're going to Make sure to look at the radio show on the newsletter that you'll be getting in the meantime, have a great Southern Oregon weekend, call me, text me, and let's talk about your real estate needs.

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