The Rogue Valley Association of REALTORS® (RVAR), and the Southern Oregon Multiple Listing Service (SOMLS) today released its monthly report on the status of Real Estate in Jackson County. The Report covers the ninety day period ending June 30, 2009. “For the fifth straight month we have seen a double digit sales increase in Jackson County when compared to the same period in 2008. Sales are up by 37.3% in Jackson County as compared to last year”, said Steve Blanton, CEO of the Rogue Valley Association of REALTORS® and the Southern Oregon Multiple Listing Service.
At first blush it would appear that Jackson County’s median price of $187,000 continued down to a new low, and in a sense it did. However, there is a story behind the story. “Traditional sales account for a little more than half the market, and looking only at that portion the median held steady at $215,000. A little less than half the market is made up of so called ‘distressed sales’ –foreclosures and short sales. This segment of the market continues to see downward pressure with the median for foreclosures at $161,500, while Short Sales stood at a slightly higher $174,900. There continues to be two markets in our area as there is in many parts of the nation”, said Blanton.
