Print this ArticlePrint this Article Email this ArticleEmail this Article
Text Size: A | A | A

Real estate prices continue to rise as sales slow a bit

 Posted: 12:10 PM September 05, 2013

The pace of Jackson County residential housing sales slowed in August, but prices climbed despite rising mortgage rates.

The median price for an existing single-family residence rose 16.5 percent year-over-year to $196,900 from $169,000 between June 1 and Aug. 31, according to figures compiled by Southern Oregon Multiple Listing Service. The median sales price in August was $202,000, up from $200,000 in July.

For the first time in five years, however, more existing homes were on the market than a year earlier. The 1,229 houses in the SOMLS system marked a 2.3 percent gain over the inventory a year ago. The houses were on the market an average of 43 days, down from 58 a year ago.

During the three-month period, 573 residences sold, down 6.2 percent from the 611 exchanging hands during the summer of 2012.

New construction continued on its recent roll, with a 50 percent increase in the number of homes sold during the summer months and the median price growing 22.5 percent to $229,100 from $187,000. Most of the activity, according to SOMLS, was in Medford and White City. Many of the county's new construction deals, however, are not reported to SOMLS.

— Greg Stiles


Reader Reaction
We reserve the right to remove any content at any time from this Community, including without limitation if it violates the Community Rules. We ask that you report content that you in good faith believe violates the above rules by clicking the Flag link next to the offending comment or fill out this form. New comments are only accepted for two weeks from the date of publication.
COUPON OF THE WEEK