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

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