Market Update May 25, 2023

Full Video Transcript Below

Market Update May 25 2023

Alice Lema: [00:00:00] Hey, Southern Oregon, Alice Lema, here, broker John Scott with another market update ending in the week May 25th, 2023. We still have volatility. We have some big surprises in both directions, all three counties.

Let's start with Klamath Falls. So the prices in Klamath Falls year over year are up a surprising 36% from this time last year. Now, this is residential single family home only, but a home on average in Klamath Falls will now cost you $373,335. The number of residential single family homes sold year over year in Klamath Falls are down a whopping 40%, and the number of listings year over year in Klamath Falls are down 8%. So I've got some disparity in these percentage relationships, but you can see this is where the [00:01:00] volatility is coming from. Now we have zero closed forclosures in Klamath County this week. We have zero short sales closed in Klamath County this week, and we had zero million sales closed in Klamath County this week. And again, those are residential homes.

Jackson County prices year over year are unchanged. We have an even $515,932 on average, and again, this is residential single family home. The number of homes sold year over year in Jackson County are down 41%. A little bit more than more than Klamath. The number of listings in Jackson County year over year are down 10%. We did have one foreclosure in Jackson County, closed this week, and it was in Butte Falls. And it was $270,000. We had zero short sales closed this week in Jackson County, and we did have a million [00:02:00] dollar sale closed in Jackson County, and it was for 2.3 million in Eagle Point, and it was three homes on 197 acres.

Josephine County prices year over year are down 9%, so a home in Josephine County, a residential home is now going to cost you on average $399,510. The number of homes sold in Josephine County this week are down 41% similar to Jackson County. The number of listings year over year in Josephine County are down 12%.

We had zero foreclosures closed in Josephine County this week. Zero short sales closed in Josephine County this week, and $1 million property close in Josephine County this week, and it was on the Rogue River. It was for 1.3 million rogue riverfront property. It was a 3000 [00:03:00] square foot home on 11 acres.

So if you wanna talk about your property or you wanna acquire more property give me a call, give me a text. My number is 541-301-7980. See you next time.