EP and SC/Trail median home prices show gain

Jackson County overall existing home sales and median prices fell during the most recent rolling quarter, according to the Rogue Valley Association of REALTORS® (RVAR) housing market report released today. Although the county-wide median fell, prices posted gains in three areas.

Statistics generated by the Southern Oregon Multiple Listing Service (SOMLS) for Sept. 1 through Nov. 30, 2010 shows median price gains from the same period last year in three areas. Eagle Point gained 13.4% to $210,000; Shady Cove/Trail jumped 23.1% to $200,000; and Gold Hill/Rogue River is up 11.6% to $145,000.

A total of 445 homes sold during the rolling quarter compared to 529 for the same period last year, a decrease of 15.9%. Distressed property sales continue to pressure the market, pushing the overall median price down to $159,000.

Normal transactions accounted for 46.7% of all sales, with a median price of $223,000. REO properties hold the next largest market share at 42.7% with a median of $124,500. The remaining 10.6% were short sales, with a median price of $159,000.

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