MEDFORD, Ore. -- Home prices are rising across Jackson and Josephine Counties.
Jackson County is seeing a strong demand, but low inventory, according to the Rogue Valley Association of Realtors.
Between March 1 and March 31, 2018 home sales increased 3.7% over the same quarter last year.
The median price for a home in Jackson County is $277,000. That's up 7.5% from the previous year's cost of $257,750.
The median price for a rural home in Jackson County is $392,000. Last year's median price at this time was $390,000. Rural homes spend about 97 days on the market.
Homes spend about 35 days on the market, which is only a day longer compared to this time last year. There are, however, 13.9% more homes on the market (985) compared to last year, but the inventory is struggling to meet the demand.
Josephine County home sales fell 19.6% compared to last year. Yet, the median price rose 13.6%.
The county-wide median price for urban homes is $249,950. That's up from $220,000 from the same period last year. Homes spend about 32 days on the market.
The median price for a rural home in Josephine County is $315,000, which is only a 0.8% increase from last year. Rural homes spend about 69 days on the market.
The number of homes available increased 37.2% to 550.