Douglas County Real Estate Market Trends Mar. 2021

    Douglas County Real Estate Market Trends Mar. 2021

    Apr 27, 2021

    Greetings:

     

    Oregon’s housing market continues to grow along with the rest of the nation in terms of increased value. In many areas we are seeing double digit increases in sales price. This is contributed to the lack of inventory and the high demand of buyers due to low interest rates. 

     

    Douglas County has seen an increase in listings for the month of March at 176 compared to February at 137 or +28.5%. This is a positive trend for buyers because it means more inventory to choose from. When comparing year-to-date, the number of new listings has decreased by -9.1% (468 in 2021 vs 515 in 2020).  Pending sales increased by +31.0% at 186 in March 2021 compared to March 2020 at 142. When you compare our pending sales to the previous month, they are up +40.9% (186 vs 132).   We follow pending sales because it is a good indicator as to how strong or weak the market will be in the next 30-45 days when these offers begin to close.  Closed sales for March at 148 increased by +14.7% from (129) closing in March 2020 and a whomping +54.2% increase when compared it to February 2021 at 96. This is significant as sales traditionally pick up in the 2nd and 3rd quarter of the year.

     

    In Douglas County comparing 2021 to 2020 year-to-date the average sales price has increased by +25.4% ($300,300 vs. $239,400).   Another positive trend is that the average sales price increased by +19.2% to $316,500 from last month at $265,500.  In the same comparison, the median sales price has increased +14.0% ($277,500 vs. $243,500). Home values continue to rise by double digits, which is good news for sellers.  Our total time on the market is 77 days.  Also, our listing inventory is 1.0 months, so we if did not take another listing in our area, all the properties that are listed would sell in just 30 days.

     

    Many areas of Douglas County continue to see average sales price increase in 2021: the Winston-Dillard area saw a (+16.2%) increase in value with an average sales price of $234,500, the Glide area’s average sales price increased by (+16.1%.) to $383,600, the Sutherlin-Oakland area saw an increase of (+11.1%)to $274,000, the sales price in the Myrtle Creek and southern part of Douglas County values increased by (+40.8%) to $273,300, in the Hucrest and Garden Valley areas the average sales price was $456,200 a (+19.8%) increase, in Melrose and west Roseburg the average price was $354,900 a (+9.3%) increase, the Winchester and college area saw an average sales price of $312,200 (+14.0%) increase, the SE part of Roseburg the average sales price was $218,700 or (-2.6) decrease, and prices increased in Green to $239,800 or (+11.9%).

     

    INVENTORY IS EXTREMELY LOW IN DOUGLAS COUNTY. IF YOU WOULD LIKE TO TAKE ADVANTAGE OF THE INCREASE IN HOME VALUES OR JUST SEE HOW MUCH YOUR HOME IS WORTH, PLEASE CALL US!

     

    Please keep all the men and women that are serving in the military and are our first responders along with their families, in your thoughts and prayers. As we begin to see glimpses of normalcy, we hope everyone continues to do what they can to stay safe and healthy.