Metropolitan Statistical Area (MSA):
Medford, OR is a Metropolitan Statistical Area (MSA) comprising counties including .
There is no doubt that the real estate market in Medford, Oregon is on the rise. The metropolitan statistical area (MSA) has seen a steady increase in home prices and sales over the past few years, and there is no sign of this trend slowing down anytime soon.
The average home price in Medford was just over $200,000 in 2017, but has since risen to nearly $270,000 as of 2019. This is an increase of over 30% in just two years time! And, according to Zillow, the median home value in Medford is predicted to reach $300,000 by 2020.
What is driving this rapid appreciation? There are a number of factors at play. First, the population of Medford continues to grow as more people are drawn to the area for its scenic beauty, mild climate, and strong job market. In fact, the MSA’s population has grown by nearly 5% since 2010.
This population growth has led to increased demand for housing which, combined with low inventory levels (there were just over 1,000 homes for sale in Medford as of May 2019), has caused prices to skyrocket. Additionally, interest rates remain at historically low levels which makes buying a home more affordable than renting and has also helped spur on demand.
All of these trends point to one thing – now is a great time to buy a home in Medford! If you’ve been thinking about making a move to this beautiful city or investing in real estate here, now is the time to do it before prices continue to climb even higher.