Market Update March 25 2024

Market Update March 25 2024 for Southern Oregon

Full Video Transcript Below

Market Update March 25 2024

Alice Lema: [00:00:00] Well, hey, real estate fans. Welcome back to another edition of the market statistics podcast for Southern Oregon. This is for the week ending March 25th, 2024. And we still don't have the great numbers that we had a couple of weeks ago, but we are seeing some important upward trends in listings.

Let's start with Josephine County first. Josephine County prices year over year this week were down 18 percent. The average single family home costing 380, 750. That's for residential. The number of solds year over year in Josephine County were neutral this week. They were about, about even. There were 14 closings on SOMLS in Josephine County this this week. The number of listings year over year were up 10 percent in Josephine County. Yay! Congratulations, Josephine County. There were 284 active listings on [00:01:00] SOMLS this week in Josephine County. We had zero foreclosure closings this week, zero short sale closing this week, and zero million dollar closings in Josephine County residential market this week. Jackson County prices year over year, we're only up 1%. So that's about neutral.

The average single family home in Jackson County this week costing 523, 087. The number of solds year over year this week in Jackson County were up 14%. We had 47 closings on SOMLS this week in Jackson County. Congratulations, Jackson County on that. The number of listings year over year were up 9 percent this week in Jackson County. Yay. That's something to celebrate. We had 652 active listings on SOMLS this week. We had zero foreclosures close in Jackson County this week, zero short sales close, and [00:02:00] two million dollar closings in Jackson County in the residential market. One both were in Jacksonville. One closed at 1. 27 million dollars and one closed at 1. 05 million dollars this week in Jacksonville. Those are residential closings. Congratulations to both of those folks for getting their properties closed.

Klamath County this week prices year over year were down one percent. It's about even. The average single family home in Klamath County this week costing $303,137. The number of sold year over year in Klamath County were down 38% this week. And again, that has to do with listing inventory in the residential market. There were eight closings on S-O-M-L-S in Klamath County this week. In the residential market, the number of listings year over year in Klamath County were down 3%. Slightly [00:03:00] off, but not much. There were 219 active residential listings on S. O. M. L. S. in Klamath County this week. The number of foreclosures that closed were zero in Klamath County this week. Number of short sales closed were zero. A number of million dollar Residential closings and climate County this week were zero.

So you can see that the good news, at least in Jackson and Josephine County this week, are that the listing inventory is up, at least in Jackson County, the number of solds is up. And that is directly related to inventory. Now the price is going down. We are still a little bit volatile in the price department.

Some weeks are up, some weeks are down, and this is all compared to this time last year. Now I do want to make a pitch for you to grab the podcast for this week, because we're talking about national trends as well as Southern Oregon changes in some of the big trends. [00:04:00] Institutional housing watchers weighing in on what's happening this spring and some very interesting numbers.

Also on the radio show you can catch us on the ACE 1300 AM, our new radio home, and we'll be airing 10 AM on Saturdays and 8 AM on Sundays. And this week we talked to Chris Barnett, from Grants Pass Realty Executives, a great interview with him. So do you keep in mind that it's still a great time to sell a great time to buy.

The world is hard and the world is weird and the interest rates are up, but the prices are a little bit soft. So if you want to talk about your real estate life making a move, maybe adding some properties, maybe selling some properties, give me a call. Give me a text that's 541 301 7980.

I want to be your agent, a great listing agent, great buyer's agent, great with investments and also great just consulting. You know, if you're in a jam and things in your life are on a little bit of a downward [00:05:00] spiral, let's talk about that because sometimes just having a conversation opens up other options.

If you're on an upward spiral and you want to start talking about what to do in the real estate world to add some equity in your life and also build some wealth, that's a fun conversation to have as well. So give me a call. Give me a text. Have a great weekend over the holiday. We'll see you next week.

Bye now.

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