Douglas County’s real estate market is still healthy and growing.
G. Stiles Realty Owner Greg Johnson breaks down the Douglas County real estate statistics from October.
Overall, the Douglas County real estate market is still healthy and growing. Residential sales in October were 3.6% higher than sales of last year. Pending sales were up 1.1% higher than a year ago.
October sales are kind of funny, because they actually reflect what the market was doing two months ago, because it usually takes about 60 days to close a transaction from the time you make the offer, so this shows us that last summer was a very active market.
The average sale price increased 6.2% last year. This far exceeded what the inflation rate is, so this shows that Roseburg and Douglas County real estate is still a good investment.
The median price range increased 8%. What that tells us is that the higher-priced homes are now selling at a quicker pace. It also tells us that the affordable homes that a lot of people are looking for are going to be harder to find.
For homes coming on the market in October, new listings were down about a half a percent, and that shows that we still have a low inventory for buyers coming into the area.
Where were the hottest market areas….West Roseburg on Harvard area, Melrose, the Garden Valley area and Hucrest were the hottest areas. The problem areas we still have in our county is the Glide area. They were down 13% in sale price over a year ago.
Other areas of the market, land sales have been brisk. They’ve been going up, especially in the Myrtle Creek and in the West Roseburg area, as more and more home buyers are looking at buying, having new homes built, and as contractors come in and start building homes.
Multi-family residential is still a hot market. We have almost zero vacancy in the county. We have a shortage of homes. Residential sales for multi-family is really hot.
Another part of the market is our commercial properties, and that is still caught up in the recession from five, six years ago. We still have a lot of vacancy, especially with the big-box stores, and it’s going to take a while for that to improve. Slowly and hopefully it’ll continue to come out of that recessionary market.
Well, I’ve covered a lot of detail about our local market, and I’m sure you probably have a lot of questions dealing with your own particular properties, so feel free to give us a call at G. Stiles Realty.
Whether you’re looking at residential properties, or land, or commercial, we’ve got the experts here at G. Stiles Realty that can help you.
Our phone number is 672-1616, and we’d be glad to work with you.
Greg Johnson CCIM/GRI, is a Principal Broker and Owner of G. Stiles Realty in Roseburg, Oregon. Greg earned his GRI in 1992 and the prestigious CCIM designation in 1996, making him one of only two people with CCIM status in Douglas County. He and his wife Carol have owned G. Stiles Realty since 1998. Contact Greg at (541) 672-1616 or firstname.lastname@example.org.