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Jackson County home prices tick up as sales quicken

 Posted: 11:15 AM May 05, 2014

The median sales price for existing single-family residences in Jackson County edged up 2.2 percent for the three months ending April 30, compared to a similar period in 2013.

Figures compiled by the Southern Oregon Multiple Listing Service show the countywide median price — with half of the sales above the figure and half below — between Feb. 1 and April 30 rose to $190,000 from $186,000 a year ago. The turn-around time on sales was 50 days compared with 62 a year earlier.

From Feb. 1 through April, activity declined 5.8 percent with home sales falling to 425 from 451 a year ago. In April alone, however, there were 196 sales, versus 191 in April 2013, the first such uptick in 12 months.

The median price for a rural home in the county fell 10.6 percent to $248,000 from $277,500. The average time the 99 properties selling during the period spent on the market was 90 days.

While not all new homes go through the SOMLS system, it remains an indicator of activity. There were 70 new homes sold during the three-month period, a 46 percent gain. The median price for new construction sales was $241,373, up 11 percent from $217,400 a year ago.

Foreclosures accounted for less than 10 percent of the activity, while short sales came into play 7.3 percent of the time.

— Greg Stiles

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