Southern Oregon Market Update June 23rd, 2021

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June 23rd, 2021 Southern Oregon Housing Market Update

Well, good afternoon. I'm Alice Lema. I'm a real estate broker here in Southern Oregon with John L. Scott real estate. And this episode is our weekly market statistics for Southern Oregon. And this is for the weekend, the June 23rd, 2021. So our market is definitely transitioning. Now we're going to go over the new listings and the pendings here in a minute for all three counties, but we're starting to feel a little more of a breath.

[00:00:27]The prices are not going as quickly they're stabilizing. I say this the last few weeks in a row, we're seeing more back on market. We're seeing price drops. We're also seeing sellers accepting lower offers. So this is something we want to start talking about with our buyer pool is just because something's listed at a certain price, you might feel free to go ahead and write a lower offer and see what happens. You know, it doesn't hurt to try.

[00:00:53] So this week ending June 23rd, 2021 in Jackson county, we had 148 new listings, 161 pending sales. Our closed sales for Jackson county this week, were 132. Our canceled and withdrawn, those are people that give up, were 26 in Jackson county. Our back on market in Jackson county this week was 41. That's pretty high.

[00:01:17]Jackson county, average days on market this week was 32 days. Now that's a little over a month and a Jackson county average sales price this week was $430,000, which is still high for us in Southern Oregon. I know that it doesn't seem high for other parts of the country. And in Jackson county, our average ratio, percentage of the sold price to the list price was a hundred percent. So as prices start to drop, you'll see, that will for a little while, it'll look like we're having more, a hundred percent list to sold price ratio.

[00:01:52] Josephine county this week, new listings was 53. Pending sales was 55. So that's still a very active market. Josephine county closed sales this week was 44. The canceled and withdrawn in Josephine county was seven. The back on market was 10 in Josephine county this week. And in Josephine county, the average sales price this week was  $408,000. Quite high for Josephine county. Josephine county average sold ratio to list price was 99%

[00:02:26] Klamath county new listings in Klamath county was 66. Pending sales in Klamath county this week was 59. Closed sales in Klamath county was 68. Canceled and withdrawn in Klamath county was eight. Back on market 14. And Klamath average days on market in Klamath with was 116.

[00:02:47] So we're past the three month mark now. So things were taking longer. And as we say, every week, a normal market, what is it? Real estate fans, four to six months, right? Hundred and 20 days to 180 Klamath county. Average sales price was $197,000. And the average sold to list price ratio percentage in Klamath county was 95.

[00:03:10] So that's our stats for the week ending June 23rd, I'm around all weekend would love to help you with your listing or your purchase. My number is (541) 301-7980 have a beautiful weekend. We'll see you next week. Bye now.