Rogue Valley Real Estate Trends in Nov 08

By
Real Estate Agent with RE/MAX Ideal Brokers, Inc.

Year over year home sales in the Rogue Valley in Southern Oregon have increased for the second month in a row. This is the first time this has occured since March 2005. The average number of days homes stayed on the market before selling, expiring or being taken off the market trended down compared to this period last year. The Median Price of homes continues to decrease, except in East Medford. The number of homes for sale is also continuing to fall, however at the current rate of sales it would still take many months to sell the existing inventory.

 

      Ashland East Medford West Medford Central Point Eagle Point Grants Pass
Homes Sold                
  Oct 2007   20 40 15 22 8 13
  Oct 2008   31 36 17 28 13 20
Days on Market              
  Oct 2007   109 133 84 90 125 157
  Oct 2008   134 123 54 73 108 100
Median Price ($)              
  Oct 2007   490,000 276,250 183,400 220,000 242,000 229,000
  Oct 2008   340,000 287,500 147,400 188,250 210,000 217,450
Homes for Sale              
  Nov 1 2007   335 628 357 324 197 N/A
  Nov 1 2008   334 506 324 278 196 275

 Note: The data in this chart were supplied by the Southern Oregon Multiple Listing Service for the period of October 2007 through October 2008.  SOMLS neither guarantees nor is in anyway responsible for its accuracy.  Data maintained by the SOMLS may not reflect all real estate activity in the market.

Comments (1)

Corey Davenport
Corey Davenport Real Estate Services - Champaign, IL

REALTOR Corey DavenportRickey, You and I have an opportunity to do each other a favor; we are both in the same business with the same interest and have clients who come and go--possibly from central Illinois to your area and vice-versa.

While, we can't control who is moving, or where they are going to live next, I sure would like it if there were someone out there in the real estate business, in your area, with whom I could build a working relationship with.

That way if a seller is moving to your area, I could recommend you. Also, I could recommend you if my buyer had to sell in your area prior to buying a home here. And, of course, you could do the same for me if your people had business in my area.

If this sounds like a fair trade, go ahead and add me as an associate in your contact book.

I should mention that I pay brokers 30% for all closed referrals to Central Illinois.

Central Illinois is Home to Caterpillar, Kraft Food, Carle Hospital, Decatur Memorial Hospital, University of Illinois, Millikin University, Archer Daniels Midland and so much more.

You can visit me online at www.coreydavenport.com

Dec 24, 2008 10:07 AM