Real Estate Show Lender Updates June 2022

Full Video Transcript Below

Update on Local Southern Oregon Housing Stats

[00:00:00] Well, good morning. Real estate fans, Alice Lema here, broker John L Scott, beautiful Southern Oregon back with another edition of the weekly podcast. So, so happy to have you join us again. This week's gonna be super good, cuz we have numbers. Our MLS just posted our year to date numbers. Not only year to date, but year to year. So from last June to this June, super interesting. A lot of the numbers verify what we've been saying anyway, all these months. However, there are a couple of surprises that I wanna make note of for both Jackson and Josephine counties.

So before we jump into that, give you a quick second to subscribe to the channel, give us a like send some comments. Please feel free to share with your friends and family. That's what it's for. And if you need to speak to me privately, just text or call 541-301-7980.

Okay. On to the data, our favorite thing, right? Okay. So Jackson county year, over years, that's gonna be June. [00:01:00] 2021 to June, 2022. Our MLS put out a couple of really great charts recently. We've got the number of listings and the listing prices. So let's start with the number of listings. First, as you can see, the black line is the actual number of listings sold. The red line on top is the number of active listings.

We call those the helpful people. So as you can see our inventory is much, much higher. And the sales are slower and you can see how that all changed from last June to this June, but it's what we've been experiencing. So moving on to the listing prices again, the black line is the sold and the red line are the actives now, the active list prices versus the sold list prices. You can see there's a gap there. Part of the gap got bigger in January and February. It's closed [00:02:00] a little bit, but I betcha in the next month or two, you're gonna see that continue to have some some difference between what people are trying to list their house for versus what it is actually selling for.

And then I love the in between line because we were just talking about this. So the in between line, those are the new people. Those are your neighbors that are putting their house on the market right now. And they're undercutting who, the people that are online right now. So there's a lot of that going on right now.

We even have next door neighbors, undercutting people by as much as $20,000 and they're the ones getting sold. We just talked about that last week. So now we have proof, it's always great to have these charts and every time the MLS puts them out, we will update you.

The other part that Jackson county is 'interesting is the median price per home sold in Jackson county is $410,000 and that's for [00:03:00] homes that are not new construction. So the new construction homes average $469,000 and some change. So that, that's noteworthy, but here's the show stopper. And we'll put this chart up too. This is the Jackson county snapshot, the rural properties, hold onto your hats folks, Jackson county, rural property, medium price, $641,000.

So if that does not make you wanna sell the farm, I don't know what will, but anyway, and then our sales volume, we've already sold over $524 million worth of real estate in Jackson county. And it's only the middle of June. Okay. So let's go on to Josephine county now our sister to the north. It's not actually north, but we think of it as north.

Okay. So again, this is the number of listings from MLS, and this is June, 2021 to June, 2022. And the listing prices, you can see the red line on, those [00:04:00] are the active listings. And you can see the block line on the bottom. Those are the sold listings. The gap in Josephine county is quite, quite broad as well.

And then the brown line or the gold line. Those are the new ones and you can see that they are coming in under way under. So now we look at the listing prices and again, the black line is what's sold. The red line are the the medium list price. The black line is the sold list price of Josephine county.

Now you can see that that gap is narrowing and we will watch that closely. Josephine county is one of our leading indicators sometimes when prices go down, or the economy changes. We see it in Josephine county first. So we'll keep an eye on that.

And then getting to the Josephine county snapshot. Let's talk about the median prices in Josephine county. So right now median prices are $380,000 in Josephine county and that's for already built, [00:05:00] not new construction. New construction is $449,000 average in Josephine county and some change. So still quite a, quite a bit higher than the existing homes.

And then again, hold onto your hat. Cuz in Joseph county, our rural properties are selling for $511,000 is a medium price and some change in Josephine county. So there you go. All those charts are available. All right. Interesting, interesting stats, always great to go back to the data. Our rural properties are surprisingly high and holding. And then we're noticing, we've got the documents now, a lot more listings than we have had in the past. And I promise you folks a lot more coming. I cannot tell you how many listing appointments I'm going on. And I'm just one agent. And I'm hearing from a lot of other agents every day.

Now we have more and more listings, but I'll tell you, here's my prediction. Mid 2022 I predict that 2022 is gonna close with more [00:06:00] home sold than last year. We'll see if I'm right. Here's why I'm thinking now that the inventory's loosening up, buyers have choices and all those people that did not wanna sell their house because they didn't have a place to go, they're the ones listing and they're buying houses.

So that's double the transactions. I'm not saying the transactions are gonna double I'm just saying, I think we're gonna have more homes sold in Southern Oregon than this than last year, but we'll see. We'll see if I'm right. I know it's risky to make productions but I love doing 'em and I think I have some, some good foundational numbers to back me up on that, but we'll see.

All right, well, have a beautiful weekend. If you need anything between now and Monday, just text call 541-301-7980. You have any questions about what's going on with your real estate or what you wanna do next? Also gimme a text or a call. All right. Make it a great day. Bye.