Southern Oregon Market Update 5/5/21

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Southern Oregon Housing Market Update 5.5.21

Well, good afternoon, real estate fans, Alice Lema here, broker John L. Scott in Southern Oregon here with our weekly stats. This is for the week, May 5th, 2021. In Jackson County, we had 169 new listings. So we are starting to get some more properties on the market. So 169 new listings in Jackson County, 155 pending under contract, 118 closed, 21 canceled or withdrawn. So 169, new listings, 21 gave up basically 27 came back on the market. So that's kind of interesting. And our average days on market is starting to get a little bit longer. It's still pretty quick. If you remember a normal, even neutral market is about five to six months, 120 to 120 days, not 120 seconds.

[00:00:54] And we're looking at about 32 average days on market now in Jackson County. Average sales price as a whopping $454,000. Yup. Wow. So we're tracking the averages now. I know in the past we've been doing the medians, but we're doing averages now. Just so you know, for accurate reporting. So 32 average days on market and Jackson County, $454,000 average price.

[00:01:23] And we started to add this week, the listing ratio to selling ratio, and this has to do with the price. So 99 and a half percent of asking price in Jackson County this week. Josephine County, little bit different. We had 59 properties, new new listings on the market. 45 pending sales, 59 closed sales, 10 canceled, withdrawn 15 back on the market.

[00:01:52] 51 average days on market and the new price this week in Josephine County, average $347,000, almost 348 hundred thousand, 97.19% of asking price. So 97% of the list price is what the closing, closing price was in Josephine County. Klamath County is 60 new listings, 57 pending sales, 48 closed sales seven canceled or withdrawn 15 back on the market. And the average days on market in Klamath County is 110. So getting a little bit longer. And the average sales price in Klamath County is $193,500. And Klamath County is getting a little over 95% of asking. So the market is still pretty quick. We can see that more properties are coming on the market.

[00:02:54] We can see that more people are giving up. We can see that more people are going back on the market. We can see the prices are still high and the sellers are getting close to what they're asking, but we're starting to see a slight breath if you will, of normalizing. And that is really what we're all hoping for, for a lot of reasons.

[00:03:17] It's not healthy for markets to continue to escalate. It's not supportable. It's not sustainable and having a little less drama in our housing market just means that our economy is recovering a little bit more from our shutdowns. And then also here in Southern Oregon from our fires.

[00:03:37] I drove past a Phoenix today and it looks like the cleanup is going quite well. That was super exciting. If you have any questions about the statistics, you want to know how things are going and in your particular neighborhood, with your particular property? Give me a call. Give me a text. My number is (541) 301-7980 that's (541) 301-7980.

[00:04:03] Make it a great day. Bye now.

 Alice Lema, Broker John L Scott Real Estate
(541) 301-7980