Oregon Housing Trends 5 Yrs.
Oregon Housing Trends Last 5 Yrs.
Full Video Transcript Below
Housing Market Trends 5 yrs.
Alice Lema: [00:00:00] Well, Hey, real estate fans. Welcome back to the weekly podcast today. We're going to look at the state of Oregon housing market. Cause we don't ever really do that. We usually focus, you know, super hyper local and also a national, but Oregon itself has some interesting statistics. And I want to show you this. This, this graph, this is from Redfin, and it shows five years worth of housing data, residential housing data for the state of Oregon, but check out the prices in 2019 and look at them now. This is as of the end of November, 2023. This is just a few weeks after that but it's just incredible that Oregon itself has done really, really well in the housing, in the housing market.
So in as of November, 2023, the prices in Oregon were up almost a percent. And that's compared to last year. So they're doing a November to November the median sales [00:01:00] price in the state of Oregon, $490, 000 and some change. But if you look at Jackson County on my stats video, you'll see Jackson County is higher.
And Josephine County is not that far behind. So this is something I keep trying to drill into people's heads is Southern Oregon carries a little bit of a premium in the price department because of our desirability, because of our destination location. We've got the beautiful agriculture, but we, but we have an international airport.
We've got all of this wild land around us, but we have two incredibly huge hospitals, oversized for our area because we are medical facilities for just hundreds of miles. And plus everybody in the most part is pretty nice. So I think Southern Oregon and looking at the state of Oregon it's kind of interesting how our prices are a little bit higher, but I did want to say that in the state [00:02:00] of Oregon, the number of homes sold November, 2023 to November, 2022 year to date, it was down 13. 8%.
But that's because of inventory. And then there were a little over 3000 homes sold in Oregon in November 2023. And that's down about 500 homes from 2022. So we're still struggling with inventory. But we have a trend coming right now in winter, which is unusual, a trend coming with more listings on the market. Still not enough. But more coming.
So what does this mean to buyers and sellers? If you're a seller or if you want to sell and buy, you might want to get a jump on it before March 1st because you'll still have very little competition. A lot of people purposely wait to put their house on the market in April, May and June [00:03:00] because they want flowers or they're timing some other event.
But I'm telling you, it's always better to sell your house in the winter, into early spring because of competition. And you grab those starving buyers from leftover from, from the winter. If you're buying, look at these numbers from 2019 to 2023. Is it ever a bad time to buy a house or a property in southern Oregon?
I say get when you're buying, get something that fits you that is a reasonably good investment. But it's really, you know, a lot of us are buying homes to live in not investment property, but you still want to keep resale in the back of your mind. I get something that fits you, get something that's in your budget and then just do it, especially if you don't own any real estate at all.
Listen to your auntie Alice, get something because you'll have a place to live. It's really hard to be a tenant in Oregon because of all the landlord tenant laws, different video. [00:04:00] But and if you want to get something bigger or something smaller, it looks like we've got like a 60 to 90 day window here where we can kind of use the economic conditions that we are aware of right now. We think we know what's happening in 2024, but as we've seen in the last few years, the world is full of surprises. So there is something to be said for dealing with the market that we know.
But in the meantime, I would still love to hear from you. I'm around a lot of the week, a lot of the holiday. My number is 541 301 7980. Give me a text. Give me a call. I want to be your agent. I'm a great listing agent, great buyers agent, good with all demographic of people. Really just a big fan of wealth building through real estate and open to all kinds of conversations. If you've got questions, you're not ready, but you want a little bit of information to get ready let's talk about it. It'll be fun and getting ready and being prepared is very smart, right? [00:05:00] Right.
So have a beautiful week. Give me a call, give me a text, hug those you love, and we'll see you next time. Bye now.