It is a new year, and time that we can look back and see how prices are doing. Using a form I designed about 10 years ago, we are able to compare how things are doing now compared to the height of the 2006 housing market...right before the financial market meltdown.
In Jackson county in 2006, 2647 houses were sold through the MLS. In 2016 the number was 2633. So almost exactly the same amount of houses. But if you compare that to 5 years ago, only 1846 houses sold in 2011. So have we rebounded...I think the numbers say yes. Is it a new bubble? Hard to say. The lending regulations were more responsible for the housing crisis than anything, and the same market forces are not at work. But still houses are selling at a premium price. So it is hard to imagine large price gains unless wages also rise.
As far as prices go, the county is still down 7.5% overall since 2006, but is up 62.5% since 2011.
Ashland is down 1.5% since 2006, and only up 39.1% since 2011, but that is mainly because it had a much more stable market that did not get hit as hard by foreclosures.
West Medford on the other hand is still down 16.9% since 2006, but is up 85.3% since 2011.
If you would like to know how the price of your house has faired, call us at 541-708-3630 for your market analysis
Author:Adam Bogle Phone: 541-708-3630 Dated: January 17th 2017 Views: 350 About Adam: ...
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