Ashland sees real estate growth

Real estate in Ashland, often considered the bellwether market in Southern Oregon, is improving on several fronts.

According to data compiled by Medford real estate appraiser Roy Wright, the median sales price for a single-family residence in Ashland has climbed at a 3-percent-per-month rate this year.

The median price was $299,000 in January and has edged up since, coming in at $355,000 for the first half of May. Of the 17 sales for the first half of the month, one was a bank-owned property.

While the rate of home sales is increasing 20 percent per month, there are 21 percent fewer active listings than this time last year.

Of the 250 active listings, only three have completed the foreclosure process and are bank owned.

"There is no guarantee what will happen, but there are hardly any foreclosed properties in Ashland," Wright said. "It just shows once those (bank-owned houses) are gone, the market is going to take off. The pent-up demand and low interest rates are like pouring gas on a fire."

— Greg Stiles

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