Market Update Southern Oregon July 21 2021

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Market Update 7/21/21

Well, good afternoon folks. Alice Lema here, broker John L. Scott here in lovely Southern Oregon here with our weekly market statistics for Southern Oregon for the weekend being July 21st, 2021. So this week in Klamath county, we had 57 new listings. We had pending sales of 65 in Klamath county, closed sales in Klamath were 46. We had 10 canceled and withdrawn. We have 12 back on market in Klamath county this week. And our average days on market in Klamath is 56. So that's getting on two months.

[00:00:35] And if you remember a normal balanced market is four to six months. So 120 to 180. And Klamath is now at 56. The average sales price in Klamath county is $214,000 and some change, that's stabilizing. And the average sold percentage to list price ratio is 96.7. So they're still getting a nice ratio to the listing price, but it is softening.

[00:01:03]So it's down, down below the frenzy as a Lennox, Scott likes to call it. In Josephine county this week we had 68 new listings. We have 54 pending sales in Josephine county our closed sales in Josephine county were 62. Our canceled and withdrawn listings in Josephine county were nine. We had 17 back on market. We have 32 days on average on market in Josephine county. So that's a little over a month. And our average sales this week in Josephine county was about $411,000. And our average list ratio list price sale price ratio was 98.8. So in Josephine county this week, they were still getting pretty close to asking.

[00:01:46] Jackson county, our new listings were 178. Yay. For us. We have 131 pending sales in Jackson county. We have 120 closed sales in Jackson county, 25 canceled and withdrawn. So those were people that gave up. We have 34 back on market. Those are people that lost their escrow. And we have an average days on market and Jackson county of 22. So that's getting on closer to a month. Our average sales price in Jackson county this week was $405,000, which I know sounds low. But we have had a pretty steady stream the last 30 to 45 days of lower price properties coming on the market, plus sellers are accepting a little lower offers in the last few weeks.

[00:02:32] As more competition comes on, it puts a little pressure on the price. So I know it's weird to have an average sales price lower in Jackson county than in say Josephine county. But it's, this is the market trying to stabilize. So Jackson county average sales price this week was $405,000 and some change. And our average ratio of sold price to list price in Jackson county was 98 and a half. So still getting pretty close to asking in Jackson county.

[00:02:58] So this week I'm around all weekend. I would love to help you with your purchases, with your listings. I work with renters and. Investors. So if you're buying, selling, investing, or want to become a homeowner, just give me a jingle.

[00:03:13] My number is (541)301-7980. Have a beautiful Southern Oregon weekend and we'll catch you next week. Bye now.