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2018 Recap & 2019 Outlook for Housing Market in Southern Oregon



Jackson County:

2017 2018 Change

# of homes sold 3094 3108 14 more homes sold

Average price per home $299,000 $320,000 $21,000 more pre home

Average price per sq foot $175 $187 6.5% Appreciation in home value

Months supply (Inventory) 2.5 3.5 28% increase in inventory

Days on Market 44 52 19% longer to sell


Josephine County:

2017 2018 Change

# of homes sold 842 764 78 less homes sold

Average price per home $246,000 $265,000 $19,000 more pre home

Average price per sq foot $156 $166 6.0% Appreciation in home value

Months supply (Inventory) 2.5 3.5 28% increase in inventory

Days on Market 47 58 23% longer to sell

*Statistics based on home sales on one acre or less

Actual sales price verses original Listing price; both Jackson and Josephine County is trending to 94.5%


An interesting note is that Southern Oregon Statistics on value/inventory/affordability are tracking almost identically to national averages.

Lawrence Yun, chief economist at the National Association of Realtors®, presented his 2019 housing and economic forecast late last November; Here is what he had to say about 2019.

"Ninety percent of markets are experiencing price gains while very few are experiencing consistent price declines. Looking to next year, Yun shared his forecast for home sales and median home prices. "The forecast for home sales will be very boring - meaning stable.” Commenting on the overall health of the U.S. economy, Yun noted that the economy is "good." He noted that we have low unemployment, record high job openings, historically low jobless claims, job additions for eight straight years and wages beginning to increase. "This type of activity in the economy should support the housing market, even as interest rates rise," said Yun.

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