Real estate market continues to improve despite weak economy
The real estate market in Josephine County continues to make improvements in the yearly and monthly trends according to the Sept. 2012 edition of the Oregon Real Estate Center Report.
The median sold price of a home was $174,500 in September compared to $175,000 in August indicating the sold price has remained nearly stagnant between the two months. However, the median sold price was $161,000 in August and $141,000 in September of 2011 demonstrating a clear and gradual increase in price.
The average home sales price increased from $196,000 in August to $206,000 in September. The number of homes sold decreased from 87 in August to 74 in September. Finally, a home spent an average of 150 days on the market last month, which is over 20 days higher than August but has been decreasing over the year.
Don Eaton, who compiles the OREC Report, says that over the year, “every trend in the market is on an upward mobility except for interest rates.” He adds that Josephine County needs a stronger economy in order to fully support the housing market.
Posted on 10/5/12 6:30PM by Jared Dill
