Fewer houses are on the market despite rising demand in Southern Oregon.
‘If a government official counts up lots, they will say there are plenty,’ said Terry Rasmussen, a real estate agent with John L. Scott Real Estate in Medford. ‘The problem is that a vast majority of the lots are owned by a few people. The builders that got smacked seven or eight years ago are building again, but they aren’t going to leverage as much because of the risk.’
The number of houses listed at the end of January through the Southern Oregon Multiple Listing Service declined 16.2 percent from a year ago, with just 806 residences now on the market. Demand, however, hasn’t receded, with transactions climbing 9.7 percent to 533, versus 486 a year earlier, between Nov. 1 and Jan. 31. The $228,000 countywide median sales price during the period rose 9.4 percent from $208,500 a year ago.
(READ MORE: Mail Tribune)