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MailTribune.com
  • County's median home price hits $209,475

    More houses go on market, but number of sales from Sept. 1-Nov. 1 fell compared with last year
  • More houses went on the market in Jackson County this fall, expanding choices for home shoppers.
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  • More houses went on the market in Jackson County this fall, expanding choices for home shoppers.
    At the same time, housing prices continued to climb between Sept. 1 and Nov. 30, with the median sales price nearing $210,000, according to figures compiled by the Southern Oregon Multiple Listing Service.
    The median price of an existing house jumped 16.4 percent to $209,475 from $179,900 a year earlier, with gains registered in every market region except Ashland, where the median remained well over $300,000.
    There were 1,054 listings at the end of November, compared with 903 a year earlier.
    Jacksonville was the most resistant to the trend.
    "Jacksonville draws people who are more apt to stay in their homes," said Kelly Quaid, an agent with Ramsay Realty in Jacksonville.
    "People here, for whatever reason, were better able to weather the economic downtown that forced people in other areas to make moves. It's hard to find something like you will find in Jacksonville, and people have no inclination to leave."
    Real estate sales throughout the county slipped 11.9 percent year-over-year during the three-month period, with 482 sales compared with 547 in 2012. The average time houses stayed on the market dropped to 52 days from 62.
    The broadest year-over-year median gains came in Phoenix and Talent, which also had the quickest turnaround time once the houses were placed on the market this fall.
    Phoenix's median sales price was $203,300, up 23.2 percent from $164,900 a year ago, but still 12.1 percent below where it was in 2008.
    Talent's median price was $189,000, up 23.1 percent from $149,750 a year earlier.
    In Josephine County, the median price for the three months rose 18.8 percent to $165,000, up from $145,000 for the same period in 2012.
    Houses sold, on average, within 81 days of going on the market, compared with 91 last year. The inventory is slowly growing, up 3.6 percent from a year earlier.
    The pace of sales fell 18.1 percent from the previous year between Sept. 1 and Nov. 30, with 104 transactions going in the books, compared with 127 in 2012.
    One sign of movement on the new-construction front came last month when two of the new Pahlisch Homes in the Bella Vista subdivision off East McAndrews Road went into escrow.
    A third new house was preordered.
    "We've been trying to find the price point to get things moving," said Clason Whitney of Coldwell Banker Pro West Real Estate in Medford. "We had a price reduction and things started popping."
    Reach reporter Greg Stiles at 541-776-4463 or business@mailtribune.com. Follow him on Twitter @GregMTBusiness, friend him on Facebook and read his blog at www.mailtribune.com/Economic Edge.
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