Median Home Prices Rise In Jackson County.

, Written by Kyle Aevermann, Posted: Mon, March 18 2013 at 5:32 PM, Updated: Mon, March 18 2013 at 6:05 PM

32.1%, that's how much median home prices in Jackson County went up in the past three months.

The latest numbers released by the Southern Oregon Multiple Listing Service say the median home price now sits at $185,000. That's up from $140,000.

"Property values are starting to stabilize and increase in value," says Colin Mullane, Rogue Valley Association of Realtors.

"One of the things that's really changed since last year is not just the drop in the inventory but the make up of the inventory. This time last year we had a lot of foreclosures and short sales on the market."

Median prices rose in 10 of the 11 urban areas tracked including Phoenix with a nearly 58% jump and Shady Cove and Trail rising by more than 50%.

The only market to decline was Jacksonville by 1%.

Still higher than the county average with prices sitting near $245,000.

"A big part of our market is gone and buyers are just buying a different kind of home," explained Mullane.

 

There is also good news for developers in the area.

The first of eight homes to be built in the Bella Vista Heights Development in East Medford has started to rise.

The development has been unable to move forward because of numerous owners and economic turmoil.

But the newest owner says now is the time and East Medford is the place to be. The reason it's values are increasing quickly.

"Medford is a very desirable place to live. It's drawing a lot of people who want to live here, retire here, raise a family here, a variety of things. And despite the deep and severe recession none of those things have changed," said Ender Ilkay, the owner of the Bella Vista Development.

Ilkay says he hopes the neighborhood will be completely developed in the next four years.

But while the market may not be as great as before the recession for those looking to sell now maybe your chance.

Below is information provided by the Southern Oregon Multiple Listing Service for each community represented in the report.

Ashland: +30.2%
Talent: + 11.7%
Phoenix: + 57.9%
West Medford: + 3.6%
East Medford: + 25.1%
Central Point: + 34.7%
White City: + 13.7%
Eagle Point: + 5.8%
Shady Cove/Trail: + 50.3%
Gold Hill/Rogue River: + 33.2 %
Jacksonville: - 1.0%

County: 32.1%

About the Author

Kyle Aevermann

Kyle Aevermann reports weekdays and anchors NBC 5 News Weekends. He joined NBC 5 News in March 2012 as a morning producer and reporter. Prior to joining KOBI, Kyle interned at KISL-FM on Catalina Island, CA. He was also a regular contributor to CNN's citizen journalism program.

Originally from the Chicago-land area, Kyle moved to the Pacific Northwest in 2009 to work in the social media industry. Kyle enjoys hiking, traveling, learning about cultures, and has a serious love for food.

Catch Kyle anchoring weekends on NBC 5 News at 6pm and 11pm.

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