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Median Sales Price Up For Jackson County Homes
For the first time in over four years, the median sales price for an existing home in Jackson County has gone up, according to the Rogue Valley Association of Realtors. In the most recent quarter, the median rose from 141 to 145-thousand dollars. Compared to this time last year, existing home sales are up over 14- percent. The biggest increase in median sales prices were recorded in Shady Cove/ Trail (20.3%), Eagle Point (9.1%), and West Medford (7.0%).
Historic low inventories, low mortgage rates and increased sales activity are credited for the increase in sales price. The report also showed that the average number of days on the market decreased from 101 to 77.
Bank-owned properties accounted for almost 44% of sales, with a median price of 126-thousand dollars. Normal transactions accounted for 37% with a median price of 173-thousand. The rest were short sales at a median price of 141-thousand.