MEDFORD, Ore. – There is good news for many Southern Oregon homeowners: existing home sales in Jackson County jumped 21-and-a-half percent during the most recent quarter.
Looking at June 1 through August 31, Jackson County’s median price increased to $169,000; that’s up $14,000 from the same time frame last year. The number of existing homes sold during the quarter rose to 599, compared to 493 for the same period a year ago.
Existing homes also sold faster with average days on market decreasing by nearly half, from 103 days to 58. The inventory of all homes on market fell 25.1% over the year. More than half of all sales were “normal” transactions, with a median price of $203,500.
Bank owned properties accounted for 27.2% of sales with a median price of $136,000. Less than 17% of transactions were short sales.