Medford-Grants Pass, OR

There is no doubt that the Medford-Grants Pass, OR combined statistical area (CSA) is a hotbed for real estate activity. The combination of strong job growth, low interest rates, and an influx of retirees and vacationers has resulted in a robust housing market. Despite concerns about the future of the economy, the real estate market in the CSA remains strong.

The median home price in the CSA is $325,000, which is up 7% from last year. The average price per square foot for homes in the CSA is $155, which is also up 7% from last year. The number of homes sold in the CSA is up 5% from last year, and the number of days on market has decreased by 4%.

There are several factors driving these trends. First, job growth in the CSA remains strong. The unemployment rate in the CSA was 3.4% in May 2019, which is down from 4.0% one year ago. This means that more people are working and have money to spend on housing. Second, interest rates remain at historically low levels. This makes it cheaper to borrow money for a home purchase or refinance. Finally, there are more retirees and vacationers moving to or visiting the CSA. This increases demand for both primary residences and second homes/investment properties