Report: Existing Home Sales Soar

By Jim McCoy Thu 6th September Newsreal estatesouthern Oregon economy

There’s good news in the southern Oregon real estate picture. Existing home sales jumped 21.5 percent in the most recent rolling quarterly report from the Rogue Valley Association of Realtors. 599 homes sold in the county between June 1 and August 31, compared 493 the year before.

The median sales price also rose from $155,000 to $169,000. Homes are also spending less time on the market, comparing the two sales periods year over year. Homes for sales spent an average of 58 days on the market during the period in 2012, compared to 103 the year prior.

Normal transactions made up 56.6 percent of existing homes sales, 27.2 percent were banked-owned homes, and the remaining 15.7 percent were short sales. Inventory has also decreased by 25.1 percent.

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