The East Medford real estate market is in the third year of decline since the peak in November 2005, but is showing some signs of improvement.  However, for the three month time period of March 1 to May 31, 2009 compared to the same 2008 period, the number of sales increased 42% from 80 to 114; available inventory is down 24% from 548 to 418; time on market has increased from 112  to 113 days; interest rates are just above 5%, and the median sales price is down -8.1%.  57% of all closed sales in the first quarter were "bank owned" and 34.2 % were "short sales".  There are 418 homes for sale in East Medford and 114 sold in the three months which indicate there is about an eleven months supply.  Six months supply indicates an equal market - not a "buyer's market", and not a "seller's market".  So even though sales are up and inventory down, we are still in an "overall" buyer's market.