Market Update Nov 6 2023 for Southern Oregon

Full Video Transcript Below

Market Update Nov 6 2023

[00:00:00] Well, hey, everybody. Welcome back to the market statistics for Southern Oregon housing. This is for the week ending Monday, November 6th, 2023.

Let's start with Klamath County this week. Klamath County, this is a residential single family homes only. And our prices year over year in Klamath County were down 22%. The average single family residential home costing $364,751 this week. The number of solds in Klamath County are up 90 percent. We had 19 closings in the residential market in Klamath County this week and the number of listings year over year in Klamath County were up 11 percent with 272 active residential listings on the market in Klamath County. We had zero foreclosures this week in Klamath County, zero short sales, and zero million dollar residential closings [00:01:00] in Klamath County this week.

Josephine County this week prices, year over year were up eight percent with the average single family residential home costing $500,533 in Josephine County. The number of solds year over year in Josephine County were down 4%. We had 22 closings in the residential single family home market in Josephine County this week. The number of listings in Josephine County were down 7 percent with 352 active listings on the residential market in Josephine County this week. We did have one foreclosure closed in Josephine County. It was in Grants Pass for 242, 000, it was over full price and it was closed with a private hard money loan. There were zero short sale closings in Josephine County this week, and there was a million dollars sale closed in Josephine County this week for [00:02:00] 2. 5 million. It was cash but not full price and it was a rogue riverfront property.

Jackson County this week prices year over year were up 2%. The average single family residential home costing 535, 909 this week. The number of sold year over year in Jackson County were up 6%. We had 51 closings this week in the residential single family home market. The number of listings year over year in Jackson County this week were down 8 percent with 711 active listings. This week on MLS in Jackson County we had zero foreclosures close this week, zero short sales but we had 4 - million closings in Jackson County again. See our our market is volatile, but it's it's trying to come back.

We had one in Central Point for 1. 1 million. It was below ask. We had [00:03:00] one, two in Ashland, one for 1. 3 million, both for 1. 3 million each and one in East Medford for 1. 4 million. And so congratulations to all those people who had closings this week and stay in touch because every week the market changes a little bit.

It is stabilizing. We think the worst is over. But but it's been such a weird year, gosh. In the meantime, give me a call. Give me a text. My number is 541 301 7980. Let's talk about what you're going to do with the next step of your real estate life. And you want to get ready for 2024. We can talk about that too.

But as you can see from these numbers, we still have a shortage of inventory. So again, I'm going to put it out there. If you're thinking of selling in the next year or two call me and let's talk about getting on the market right now. I can have a house on the market in as little as one week if we have to.

And there's still more buyers out there than sellers, but not by very [00:04:00] much. So again, the market is, is really trying to normalize and yay for us for getting through 2023, all those interest rates increases. Yay to the buyers. Yay to the sellers. Quick shout out to Lennox Scott the CEO of our company.

He's on the radio show this week. So do listen to that and give me a jingle, give me a text and let's talk about real estate for your life. Have a great week. We'll see you next time. Bye now.