Douglas County Median Home Sale Price Up 6.9% Over Last Year

The real estate market in Roseburg and outlying areas continues to be highly competitive as inventory remains low. “The trend I see is multiple offers on properties,” GTeam Realtor Tracy Grubbs said. “Multiple offers and low inventory trend. Funny to say, year after year, the rates get lower and lower and the same thing goes for the inventory. This summer was the lowest inventory I’ve seen in ten years.” The low inventory is really highlighting the importance of speed and preparation for those looking to buy a home right now. For example, buyers need to find out about properties quickly, schedule viewings right away and put offers in as soon as possible. Before the pandemic hit, there was already a trend towards moving out of cities to properties with more land. Since the pandemic, that trend has only increased. “A highly desirable property with a couple acres or more with outbuildings or a shop,” Grubbs said. “People really have self-sufficiency on their mind. People from out of state want that setup as well. Raising animals or being able to grow gardens. That trend was happening before Covid but people are recognizing that need more.” Below you will find the listing information for September. September Residential Highlights: New listings (172) increased 10.3% from the 156 listed in September 2019, and decreased 10.4% from the 192 listed in August 2020. Pending sales (177) increased 22.1% from the 145 offers accepted in September 2019, and decreased 19.9% from the 221 offers accepted in August 2020. Closed sales (168) increased 17.5% from the 143 closings in September 2019, and decreased 7.2% from the 181 closings in August 2020. Inventory and Time on Market: Inventory increased to 1.6 months in September. Total market time decreased to 63 days. Year to Date Summary: Comparing the first nine months of 2020 to the same period in 2019, new listings (1,654) decreased 9.5%, pending sales (1,501) increased 8.2%, and closed sales (1,324) increased 3.4%. Average and Median Sales Prices: Comparing 2020 to 2019 through September, the average sale price has increased 8.7% from $240,100 to $261,100. In the same comparison, the median sale price has increased 6.9% from $224,500 to $239,900. This real estate market update was brought to you by GTeam Real Estate. You can find additional information on the GTeam website or you can connect with them on Facebook. https://www.gteamgoahead.com/