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

Inventory of homes for sale in Jackson County is rising, as are prices

 Posted: 1:20 PM April 04, 2014

The number of homes for sale in Jackson County is up 15.3 percent from a year ago.

Southern Oregon Multiple Listing Service reported additional homes on the market in 10 of 14 sales areas, led by Phoenix and southwest Medford on a percentage basis.

The first-quarter median sales price rose 4.2 percent over the first three months of 2013 to $187,500, up from $180,000. The March median was $190,000.

The pace of sales Jan. 1 through March 31 diminished 11.3 percent, however, with 345 houses exchanging hands compared with 389 for a similar period in 2013.

"The inventory is expanding and that's a good thing because we haven't had much," said Terry Rasmussen, an agent with John L. Scott Real Estate in Medford. "That's going to give buyers more to choose from."

From a broader perspective, Rasmussen said, fewer sales will keep a lid on what was becoming an over-heated market.

"We couldn't keep up that kind of pace or else we would've been in another bubble," Rasmussen said. "We needed to see a leveling off; as a result, it's turned into a healthy market."

The median price — where half of the sales are for more and half for less — was up in every area but the Shady Cove/Trail region. Mostly upper end homes sold in the Eagle Point area, where the median rose 60 percent to $239,950. West Medford ($105,000) and White City ($135,000) both saw the median sales price rise 35 percent.

— 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.