As we head into the last month of the year, we are thrilled to share some encouraging news regarding the real estate market in Jackson County. The latest data, as of the end of October, reveals some noteworthy and positive trends that speak to the strength and vitality of our local market. We understand a lot of clients look to the national news for updates about the real estate market, but we really encourage you to connect with a local broker if you are after information affecting you in Southern Oregon.
Here are some key highlights in regards to Jackson County as a whole:
- Sold Properties: There was a total of 520 closed sales reported at the end of October, which is a very slight 2.4% increase in the number of properties sold compared to this same period last year (2023). For September 2024, there were 495 closed sales so all in all, this news is encouraging.
- Days on Market: One important development is average Days on Market. Properties are now spending an average of 25 days on market (September 2024 was 24 days), a small increase from the 22 days recorded in the same period last year (2023). Regardless, this is encouraging and shows the majority of homes are being priced appropriately from the beginning.
- Median Price: The median price for homes in Jackson County has experienced a notable uptick. As of October, the median price stands at $405,000, reflecting a 2.5% increase from one year ago but down $5,000 from September 2024. The information confirms the overall stability of property values in our area. In our professional opinion the reason for the slight decrease in pricing from last month is because the available housing inventory increased.
Whether you’re considering selling, buying, or simply staying informed about the market, these trends provide valuable insights into the evolving landscape of Jackson County real estate. If you have any questions or are interested in exploring opportunities in the current market, please don’t hesitate to reach out. Our team is here to assist you and provide any information you may need.
