Home sales slow, prices fall in Jackson County

Home sales and prices fell in Jackson County over the past quarter, while homes that did sell sat on the market longer, according to Southern Oregon Multiple Listing Service figures reported today.

A total of 440 existing homes sold during the three-month period that included August, September and October, SOMLS reported, down 13.6 percent from the 509 that during the same period a year earlier.

Countywide the median price was $165,000, down 10.6 percent from $184,500 for the period a year earlier. Prices continued to be depressed by sales of "distressed" homes including foreclosures; the countywide median price for such homes in the period was $130,000.

Meanwhile, homes were on the market for an average of 98 days this year during the quarter, up from 80 days last year.

The Rogue Valley Association of Realtors characterized the prices as showing signs of stability. The median of $165,000 matches the median for the first 10 months of 2010, the group said.

— Staff reports

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