MEDFORD, Ore. —The Rogue Valley Association of Realtors is looking at year-end housing statistics in Jackson County. It’s also making its predictions for 2023.
It says the first half of the year started out with tight inventories and buyer demand fueled by low-interest rates. The organization says $1.67 billion in overall residential sales were made over the year. That’s equal to around 3400 homes sold.
Medford saw a $36,000 increase in the median value of homes in the course of the year. That’s almost a 9% increase.
“That is a significant increase, the general trend in Medford is that it’s a more expensive market today than it was or that the buyers are buying a more expensive home in Medford than they were last year,” said Collin Mullane with RVAR.
One of the changes the Rogue Valley saw in march was a dramatic increase in the 30-year mortgage rate. It anticipates the rates will drop 1% in the summer.
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