Southern Oregon Real Estate Out Performing National Average

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Southern Oregon Outperforming National Trends

Alice Lema: [00:00:00] Well, good morning real estate fans. Alice Lema, here broker John Scott in beautiful southern Oregon with another edition of the Weekly podcast. Just want to say, we're gonna talk today about why southern Oregon is outperforming the national numbers and there's a lot of bad news and a lot of scary stuff out there, but Southern Oregon we're kind of holding our own.

So I just wanted to point that out so you have some data to argue with the friends and family around the holidays. So that's this, my little Christmas present to you is some data . Before we get to that, I wanna give you a quick second to subscribe to the channel. Give us a like, give us a thumbs up.

You can also find a lot of data on Alicelema.com. Very robust website of mine. And you can also leave us some reviews and comments on the Google business page, which is new. So lots of exciting things happening, but enough of the sales pitch. Let's get onto the podcast, why Southern Oregon real estate is outperforming the national trends.

Plus we have a little teaser. We have a secret that we've uncovered about Steph Curry Golden State Warriors. Steph Curry was trying to keep a [00:01:00] secret and we uncovered it. We're gonna reveal Steph Curry's secret at the end of the podcast. Okay, so let's get on to the data. So I wanna show you this graph from from realtor.com and it shows a definite upward tick in the number of active listings nationally. And the reason this is important is it's supply and demand. So when we have more supply, the prices go down, stabilize, the buyers have more choices. It just creates different elements in a marketplace. It's not good or bad, it's just what is.

So, but I wanna point out that as dramatic as that national uptick in active listings is on that report. Southern Oregon is not experiencing that. And here's the data that you need to know. In southern Oregon, our number of listings in Jackson County is still 5% under where it was this time last year. Josephine County is only up 3%. That's basically nothing.

And Klamath Falls is still short 8%. [00:02:00] So Klamath Falls is 8% year to date in active listings. Jackson County is down 5% year to date in active listings, and Josephine County is only up three. So that's still kind of not, well, it's not a buyer's market . We do have buyer market elements in the upper price ranges.

So a lot of these are averages. And if, if we dive deeper, which we talked about last, last podcast, then you'll get more detailed data about it in individual area. But overall, you know, Southern Oregon is really, actually doing well. And additionally, when you look the days on market, how long things take to sell in Southern Oregon, we're still cycling at less than three months.

Jackson County is 52 days average, which is down a little bit, and Josephine County is 59 and Klamath County is 52. So those are still pretty quick cycling markets. And again, it depends what, what neighborhood you're in and price point and, and all that. But [00:03:00] overall, Southern Oregon is still selling fairly quickly and it's such an amazing time to be out there buying and selling because the sellers still have a lot of equity.

We've got price year to date price increases in Jackson County of three to 5%, Josephine County, six to 9%. And Klamath County eight to 10%. Those are all price increases year to date. So the prices really spiked partway through the year, and then they went down. But there's still a lot of equity and that's the part that's confusing people.

So, Yeah, so we just wanna point that out. Southern Oregon is really still holding its own, and we do have more listings coming on the market every week which has been great. The holidays sometimes slow down but we still have people putting their house on the market, and for the most part they're getting showings within the first couple of weeks.

So there you go. Let's go on to the interest rates, cuz this has a lot to do with the market. So let [00:04:00] me show you the graph for this week from mortgage news daily.com. They're the ones that provided this interest rate chart and they're down to 6.3, and this is adding to the market. It's making the market more active.

The other thing to note is that the number of mortgage applications went up this week for the first time in several months. So, and that's the experience we're having there as agents out in Southern Oregon housing market right now, is that we're all pretty busy. We're not as busy as we were last year.

Last year was frenzy level as Lennox Scott likes to say. This year it's a, it's just, it's moderated, but we're still, we're still listing properties and we're still showing properties and making offers and, and getting people keys so they can get on with the next part of their life. So it's really quite interesting how much different the southern Oregon market can be sometimes from the national markets.

And your friends and family start spouting the gloom and doom. Will you just tell them, we're holding our own. Thank [00:05:00] you very much. Maybe they should move here. All right enough of that. How about the secret reveal for Steph Curry, NBA player for Golden State Warriors? Well, this was reported in, again, one of my favorite websites called dirt.com.

It's all real estate gossip. It's so fun. And it turns out that Steph Curry secretly bought, A bigger Atherton estate for 30 million. And this happened a little while ago, but he did it very quietly. And check it out. He bought a flat parcel of land in Atherton, which is Bay Area, Menlo Park that that area. Atherton estate, 30 millions, flat land, almost two acres with a U-shaped stucco and glass structure. Seven bedrooms, nine bathrooms. 17,700 square feet [00:06:00] house. Let that sink in. That's like a small business building. Anyway, we're so happy for Steph Curry and his family. It's, it's just wonderful that they got such a beautiful parcel.

But dude, Steph Curry, if you're listening to this podcasts, check it out. You could have that same place in southern Oregon for like 2 million , but it's not Atherton. So anyway, going back to what he did, he kept it a secret. And it came out when he sold his original Atherton estate. So that first estate was only 7,500 square feet, and it sold for 31 million.

So good job Steph Curry. You made a million dollars, you bought a much bigger place, very quietly. Love to know how, I wonder if it was [00:07:00] like, some basketball magic. But anyway, we're very happy for you. Everybody should have the kind of home they want. And looks like Steph Curry's a good businessman. All right, there's the secret reveal.

Hope you have an absolutely fabulous holiday with your friends and family. We'll see you again next week for the last podcast of the year, and we're gonna hold my feet to the fire with some of the predictions I made last year. Have a beautiful weekend everybody. Bye.