Local housing market springs into action

, Written by Jennifer Elliott, Posted: Thu, March 20 2014 at 12:54 PM, Updated: Thu, March 20 2014 at 7:26 PM

Medford, Ore. -- Spring has sprung, marking the time of year that home sales usually spring into action. Lynn Green just sold her west Medford home. It was on the market for 2 days. " I was shocked, so shocked," says Green.

John L. Scott broker Alice Lema says Green's experience isn't all that uncommon because the spring thaw is really heating up our local housing market. "Demand is very high from a lot of starving buyers," comments Lema.

She took us inside one a home currently for sale in our area and tells us new listings are popping up like daisies, "Since March 1st we are seeing 40, 50, 60 homes listed every day."

Lema says prices continue to rise,but slower than last year indicating stabilization.

That doesn't mean a sellers market is set in stone. Foreign relations can impact the smallest of regions.

"It's weird to think someone in Medford is impacted by the airline tragedy, the fighting overseas, and also some of the civil unrest in some of the other countries," comments Lema,  "...but it does affect our Medford market, our Ashland market, our Jacksonville market, because so many of our residents are making their living as professional investors."

With deals harder to find, supply could easily overwhelm demand.
"It's going to be an exciting Spring, but bumpy," says Lema.

So exciting that Green recently got her own realtor's license, "This was a good experience. If you are willing to put in a little elbow grease there are still good deals on the market," Green tells us. Now, she plans on helping others buy and sell homes just as she did this last week.

In the midst of all this, there's a surprising new housing market trend. As a result of the medical marijuana dispensary law, buildings located in areas where dispensaries can set up shop are seeing their property value rise. Lema says to watch prices mainly in Ashland and Klamath Falls.

What do you think? Sound off on our Facebook page and on Twitter, or leave a comment below.

About the Author

Jennifer Elliott

Jennifer Elliott anchors the primetime newscast FOX26 First News at Ten on NBC5’s partner station, KMVU/FOX26. She also reports for NBC5 News.

Jennifer began her career at NBC5 News in 2011 as a production assistant. Raised in Southern Oregon, she studied voice and piano while attending South Medford High School.

After graduating from Brigham Young University-Idaho, she returned home and added organ playing to her music repertoire. In addition to her musical talents, Jennifer is an award winning artist.

She has also co-hosted Southern Oregon’s Got Talent, the area’s premiere talent show. Jennifer is married and the mother of two young sons who keep her busy and very happy.

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