Coronavirus pandemic affecting real estate market

MEDFORD, Ore. — New first quarter data from the Rogue Valley Association of Realtors shows sales of existing homes in Josephine County decreased 6.5 percent versus last year.

But the median price rose 9.5 percent by comparison.

The number of homes on the market also decreased. But things are slowing down even more as the impact of the pandemic grows.

“We’re just finding that some people are choosing to not list their home until after the crisis has passed, they don’t want to expose themselves to strangers coming in their home perhaps,” said Kurt Heart, Owner and Broker at John L. Scott Real Estate in Grants Pass.

Over in Jackson County, the first quarter of 2020 was strong.

The median price of an existing home rose 11.9 percent as sales increased 4.5 percent over the first quarter of 2019.

But with the arrival of Covid-19 and the governor’s social distancing restrictions, the number of homes on the market has already decreased nearly 25 percent.

Leave a Comment:

Note: By commenting below you agree to abide by the KOBI5.com commenting guidelines. View the KOBI5.com Comment Board Guidelines »

Skip to content