BUYERS & SELLERS

• The 30-year fixed mortgage rate climbed to 6.76% this week per Freddie Mac, a 14-month high and up from 6.35% a year ago. Rates have kept drifting the wrong direction rather than the relief many buyers were waiting on.
• Jackson County’s August MLS figures put the median sale price at $431,500, down 0.5% from a year ago, while the typical Medford-area home now takes 27 days to sell. Prices there have held roughly flat even as the pace of sales has slowed.
• Only 207 homes sold across Jackson County in August compared with 277 a year ago, yet supply is even tighter, at 4.53 months against 5.66 in neighboring Josephine County. That gap means Medford-area sellers are currently holding more negotiating leverage than sellers farther out toward Grants Pass.

INVESTORS & DEVELOPERS

• Medford City Council authorized a consulting contract of up to $500,000 for site analysis, engineering review, and a 10% design toward a proposed stadium at Hawthorne Park, a project that could bring affiliated Minor League Baseball to Southern Oregon and reshape the investment case for the surrounding area.
• Allenwood Village, a roughly 130-unit housing development in Josephine County funded through HUD Section 8 and Oregon’s LIFT program, is in its public comment period through September 26. It represents real new housing supply entering a market that has stayed short on inventory.
• Rogue Valley International-Medford Airport’s terminal expansion, which will nearly double the terminal’s size and add six new gates, is set to break ground as early as this quarter. It is a genuine upgrade to the region’s air access at a time when relocation demand keeps climbing.

TALK OF THE TOWN

• The City of Grants Pass is accepting applications for its CDBG Weatherization/Rehabilitation Program through September 22, covering repair costs such as weatherization work for qualifying low-income homeowners.
• Ride the Rogue returns September 26, drawing cyclists to the Rogue River area for a fundraising day with three routes to choose from: a metric century, a 40-mile route, and a 20-mile route.
• Grants Pass closed its splash pad at Morrison Centennial Park and the spray park at Riverside Park for the season on September 11, the clearest sign yet that summer’s outdoor amenities are wrapping up for the year.

Questions about what any of this means for your situation? Get in touch.