The Rogue Valley Association of REALTORS® (RVAR) released a summary of sales data last week for Jackson County for the first six months of 2009. The statistics are based on data compiled by the Southern Oregon Multiple Listing Service (SOMLS).
"The report illustrates an improving real estate sales environment," said Steve Blanton, CEO of RVAR/SOMLS. The number of homes sold in Jackson County for the six months of 2009 stands at 749. This contrasts with 613 for the same period in 2008, and represents a 22.2% increase for the current year.
We saw solid performance in the first three months of 2009, but
existing home sales have really taken off in the second quarter,"
The report also indicates that two markets
existed in the first half of 2009. One being the so called distressed
market which is comprised of REO and Short Sales; the other being the
traditional market. "The distressed sales have had the effect of
depressing the median sales price. This fact makes appropriate pricing
all the more important when trying to sell a home. Homes that are
priced right are selling and entry level homes are selling particularly
well," said Blanton.
Days on the market also declined and
stand at 103 for the first half of 2009 as opposed to 110 for the same
period last year. Blanton cited three factors which may be enticing
consumers back in to the market: significantly lower home prices,
attractive interest rates and an $8,000 first time home buyers credit.
"Clearly this is a good time for buyers and they are responding," said