Southern Oregon Market Update 5/14/2021

5 14 21 Market Update Video

Well, good afternoon Southern Oregon, Alice Lema here, broker John L. Scott here to talk about our weekly stats for the week ending May 12th, 2021. While we're tracking all three counties now, and we're getting a lot more listings. I'm so happy to say. Thank you. And hallelujah.

[00:00:18] So in Jackson county, we had 145 new listings. We had 168 pending sales. We had 114 closed sales. We had 24 canceled listings, 52 back on market. And that's giving us an average days on market now of 23. Now, if you remember, a normal market is anywhere from four to five to six months. So that's 120 to 180 days. We've been cycling through the Corona and the fires.

[00:00:50] We had more like less than a week, and now we're going to be closer to a month. So that's still an aggressively sellers market, but it's starting to, it started to rescind a little bit. So, and that has been my experience too. We're starting to get more properties on the market. The sellers are being, well, some of the sellers are being a little more realistic with their prices.

[00:01:11] So now our average sales price in Jackson county is. $416,000.. And our average list price to sold price is 97.8. And there's a nice graphic up for you. And you can also send that to your friends. If you like.  Josephine county had 63 new listings, 57 pending sales, 50 closed sales, six canceled 14 back on the market. And our average days on market and Josephine county is now 53.

[00:01:42] So that's getting on two months still. Still a pretty strong seller's market, but again, starting to level off. The average sales price in Josephine county is $355,000. And the average sold price to list price ratio is 96.8.

[00:02:02] And now for our beloved Klamath county, we have 81, new listings. We have 66 pending sales. We have 44 closed sales. Eight canceled 13 back on the market. And that's giving us an average days on market of 144. So look at that, we're starting to elongate into a more normal market, at least in Klamath county.  That gives us our average Klamath county sales price of $171,000, which is still a screaming good deal. And it's a beautiful place we live. And our average list price to sold price ratio in Klamath county is now 92.6%.

[00:02:46] So all three counties had more listings. All three counties are still selling a lot of property.  All three counties are getting more back on market and more canceled.

[00:02:58] So that is one of the early indicators that a market is changing. So we watch those very carefully. The average days on market is a little longer in all three counties. The prices are stabilizing and we'll just have to wait and see what happens next week. So it's, it's never boring, but, we'll breathe a sigh of relief.

[00:03:17] And also this week, things opened up a little bit more. I don't think we're required to wear masks anymore. If we have been vaccinated. So I'm really looking to see what the end of May and June,  brings us because we could see a lot more listings, which means the prices would stabilize again. And the buyers would have more choices.

[00:03:43] So a little more normal would be very welcome. All right. So,if you are enjoying these stats, please give me a thumbs up. Give me a comment, share it with your friends. We love educating as many people as possible. If you have any questions about your property or you're looking to add a rental, perhaps, or you'd like to buy your first home, just give me a text, give me a call.

[00:04:07] I'm around all weekend. My number is (541) 301-7980 Alice Lema, broker, John L. Scott. Make it a great day.