Southern Oregon Market Update July 28 2023

Full Video Transcript Below

July 28th, 2023 Housing Market Update Southern Oregon

Alice Lema: [00:00:00] Why is Southern Oregon? Welcome to another edition of the market statistics. We're going to do all three counties as always. And it is single family residential that we're tracking and week to week we see little micro changes and we've got another batch of little micro changes happening this week.

Let's start with Klamath Falls. Klamath County prices year over year are up 6%. Congratulations, Klamath Falls. The average single family home in Klamath County costing $366, 864. The number of sold year over year are down 60% in Klamath County from this time last year. The number of listings are up 14% year over year, which is great because we need more listings, especially in Klamath County. Our foreclosures closed this week are zero in Klamath County. We also had zero short sales closed this week [00:01:00] and 0 million residential properties closed this week in Klamath County.

Josephine County is our star this week. The prices year over year are up 26% this week to an average $519, 157. Congratulations, Josephine County. See, here we go. We're starting to get some traction. The number of solds in Josephine County are down 57%. The number of listings year over year in Josephine County are down 15%. We had zero foreclosures closed this week in Josephine County. Zero short sales closed this week in Josephine County, but we did have a million dollar sale closed this week in Josephine County, and it closed at 1.150 million. So $1.1 million. It was not a riverfront property, which usually that's where the million dollar sales happen. [00:02:00] And it was square footage home of 4,315 square feet on five acres in Grants Pass. So congratulations to all those involved in that million dollar sale in Josephine County this week.

Jackson County prices year over year are down 5% to an average $497, 011 interesting that Jackson County prices are a little under Josephine County. It's usually the other way around. Jackson County number of sold year over year are down 25%. The number of listings year over year in Jackson County are down 22%. We had zero foreclosures closed, zero short sales closed and 0 million residential closings this week in Jackson County. So folks, you can see we're starting to get some traction. I don't think the prices are going to go way up because we had that [00:03:00] big spike during the shutdown and post COVID shutdown and the prices are down a little bit.

I think they're going to recover nominally just a little bit. And then I predict they're going to settle down. Fingers crossed. Finally, we did have another interest rate increase from the Federal Reserve Bank this week, but it was small and. We're hoping that that'll be it for quite a while now. In the meantime, would love to talk to you about your real estate, what you want to do next.

I'm a great listing agent, great buyer's agent. Give me a call. Give me a text. My number is 541 301 7980. So give me a jingle. Let's see what we can do for you. And in the meantime, keep watching the stats because that's where it's at. Have a great week. We'll see you next time. Bye now.