Southern Oregon Market Update Jun 1 2023

Full video transcript below

Market Updates June 1 2023

[00:00:00] Hey everybody. Welcome to the market update for Southern Oregon. These are our local statistics for Jackson County, Klamath Falls, and Josephine County in southern Oregon from May 25th, 2023 to the weekend in June 1st, 2023.

Let's start with Jackson County first. Prices year over year are down 3%. The average single family residential home will cost you $503,272. The number of solds year to year are down. 31%. The number of listings are down in Jackson County year over year, 10%. We had zero foreclosures closed this week in Jackson County. We had zero short sales closed this week in Jackson County, but we had four 1 million plus closings in Jackson County this week. We had one in East Medford for 1.3 million. We had another one in Ashland for [00:01:00] 1.19 million. We had a second one in East Medford close at 1.05 million, in Jacksonville that closed at 1.0 million. Congratulations to those folks. And again, this is what makes me think we've bottomed out and we're trying to creep back up.

Let's look at Klamath Falls Prices year over year are down 17%. The average single family residential home in Klamath Falls will now cost you $279,425. The number of solds year over year in Klamath Falls are down 60. 8%, but watch for that to change quickly over the next few weeks the number of listings year over year are down in Klamath Falls, 7%. We did have one foreclosure closed in Klamath Falls this week. It closed at $256,000 and it was on Dayton Street. We had zero short sales close in Klamath Falls this week, and zero million dollar [00:02:00] residential homes close in Klamath Falls this week.

Josephine County prices year over year are down 28%. The average Josephine County single family residential home will cost you $337,671. The number of solds year over year in Josephine County are down 43%. The number of listings are down 10%. We had zero foreclosures closed in Josephine County this week. We had zero short sales close in Josephine County this week, and zero million dollar residential homes close in Josephine County this week.

However, I happen to know there's a lot of million dollar pending properties and there's a lot more properties coming on the market. We're having a little slower start to our listing inventory in southern Oregon lately, but, Watch over the next 30 to 60 days, we may [00:03:00] see some changes. We'll see. That's my prediction.

In the meantime, give me a call, gimme a text if you wanna talk about the next step in your real estate life. Alice Lema, broker John L. Scott, beautiful Southern Oregon, 541-301-7980 hug, those you love. We'll get you stats again next week. Bye now.