Renovated Jacksonville Home with Double Decker Valley Views | $620,000 | MLS# 220102223 |This is a must see home with incredible views and nature seemingly all around you. Walk into the beautiful front entry where you can go directly into a large living room with giant windows to give you a look at Mt Mcloughlin, the Table Rocks and surrounding mountains all while sitting next your double sided fireplace. Family room leads into a gorgeous newly renovated kitchen dripping in granite and beautiful cabinetry – excellent for entertaining. Workspace/Office off the kitchen. Also on the main floor is a large master with a jaw dropping master bathroom. If you’re not much for the indoors that’s ok, the master bedroom and living room have easy access to a large second story deck where you can entertain and just enjoy your coffee with nature. Downstairs you will find 3 more bedrooms – one bedroom is in a small mother-in-law suite with a kitchen and its own family room and fireplace with easy access to the downstairs bathroom.
The economy is shrinking, businesses are closing and jobs are disappearing due to the coronavirus pandemic. But in the housing market, prices keep climbing higher.
Home prices plunged during the last recession after the 2007 housing crash caused millions of families to lose their homes, but that hasn’t been the case this time. The median home price nationwide rose 8% year-over-year to $280,600 in March, according to the National Association of Realtors. In the same period, in Jackson County, the median home price rose 11.5% to $310,000. While buyer demand has softened during the pandemic, the number of homes sold has fallen by over 30% in Jackson County; but the supply of homes on the market is contracting even faster. Demand is outstripping supply, causing prices to rise. Homes priced under $350,000 are often seeing multiple offers and selling in a few days. Higher-end homes, over $600,000, are still waiting for more out-of-state buyers to arrive. Here in Jacksonville, it’s another story. Even though active listings are down by 27%, we have seen the number of homes sold increase by 84% year-to-date.
For the first time in my career, I’m seeing out-of-state buyers purchasing homes without seeing the home in person. They are making offers on homes after viewing the listing online and viewing a walk-through video. In one case, a retiring couple had their brother, who lives in Jacksonville, walk through a home and make a final decision for them. Many others are calling to inquire on homes but waiting for stay-at-home orders to ease before deciding whether to make the trip to buy. Once the states lift their stay-at-home orders, we will see how home sales are affected. It’s hard to say what the world will look like post-pandemic, but it will change many people’s’ behavior.
On one hand, the cancellation of the Oregon Shakespeare Festival and the Britt Festival will mean the loss of thousands of monthly tourists who often decide at the end of their vacation to move to our area. But, on the other hand, thousands of families and retirees will most likely decide to move out of crowed metropolitan areas in favor of smaller, safer communities like ours. Southern Oregon lacks job opportunities, but many employers may be more open to their employees working from home after favorable experiences during the pandemic.
Bottom line: the housing market has been under-supplied for years and during the pandemic it has gotten worse. We are currently facing lots of demand for housing which will increase as the pandemic subsides. Unless we see a drastic increase in the number of homes that come on the market for sale, we will certainly see home prices continue to rise throughout 2020.
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The mountains are calling! Single-Level Home with Mountain Views, Bright Sunroom & Expansive Garden | $499,000 | MLS# 220101592 | As you enter this single level home, you will be greeted by an abundance of natural light that seeps through the countless windows and displays breathtaking 360 degree views. The gourmet kitchen offers a dual oven, butcher block island that is home to a prep sink, a solar tube, pantry, and plenty of cabinets allowing for lots of storage. Hardwood flooring and vaulted ceilings create a cozy and spacious living area. Off the kitchen you are welcomed by a bright sunroom overlooking the mountains. You can lie in the master bedroom overlooking Thompson Creek with a cup of coffee while watching the sunset through the oversized window. The master bath offers an oversized soaking tub, with a dual head shower, and tile flooring. Sauntering around the property, you will find an accessible wrap around driveway and a detached newly 2 car garage. Adjacent to the home you can relax the days away in the expansive gated garden filled with a richness of flowers and grape vines.
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Luxury East Medford Home with Panoramic Views of the Rogue Valley | $998,500 | Listing #220100900 | Beautiful custom home in desirable East Medford. Ultimate craftsmanship with gorgeous hickory floors leading to an open dining, living room & kitchen. The chef’s kitchen includes high end appliances such as a Bertazzoni 6-burner stove, double oven, built-in drawer warmers, granite counters and custom cabinets. Lots of natural light from an abundance of windows & solar tubes. Step outside to the spacious covered deck & enjoy panoramic views of the Valley; the perfect spot for entertaining. Over 5,600 sq ft with 4 bedrooms & 3 bathrooms. Master suite is on the main floor w/sauna, walk in shower, his/her vanities & a huge walk in closet. The main floor also includes media room complete with surround sound, lg office, walk-in pantry, laundry & exercise room. Downstairs are the remaining bedrooms, second living area & additional laundry hookups. Possibility of a 2 family setup. 2 additional rooms downstairs and 1,400 sf shop area are perfect for storage/ hobby rooms. Truly a must see!