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http://www.omniture.com --> Sections Home Page Local News AP News Archives Business Classifieds Event Calendar Forums Life Opinion Obituaries Photo Gallery Readers Photo Gallery Sports Tempo Weather Special Coverage 2006 Britt Festivals --> Shop Our Valley AutoFinder HomeFinder JobFinder Search Our Valley Special Sections Distinctly Northwest Readers' Choice Homelife Magazine Joy Magazine Holiday Guide Oregon Golf Info Oregon Wine Info Other Publications Local Links Ashland News eSouthernOregon Newspapers In Education Personals Moving Here Movie Listings TV Listings Volunteer Customer Service Advertise With Us Media Kit Place Classified Ad Contact Us FAQ's Home Delivery Site Map --> Email Story to a Friend January 23, 2007 Higher priced homes were hot in 2006 By GREG STILES Mail Tribune While residential real estate sales in Jackson County fell by more than a third in 2006 compared with 2005, high-end housing hardly missed a beat. Figures released by the Southern Oregon Multiple Listing Service Monday showed that sales in 2006 for houses in the half-million dollar and up category lagged behind 2005 by just 5 percent. "That's really almost nothing at all in the general overall sense," said Colin Mullane, an agent with Patricia Sprague Real Estate in Ashland and a member of the Statistics Committee of the Rogue Valley Association of Realtors. While the number of housing sales below $500,000 tumbled dramatically, dropping by nearly 36 percent over the previous year, there were plenty of home seekers willing to build or buy existing high-end homes. SOMLS figures show 421 such houses changed hands in 2005 and 401 last year. But in the under $500,000 market, many buyers and sellers stepped aside as interest rates ticked up. Advertisement "Let's say, for example, there were 200 people in the (higher-priced) market two years ago," Mullane said. "There were still 200 last year. But if there were 200 in the lower-priced market, about 100 of those went away." The biggest percentage drop came in the $100,000 to $200,000 range, where 369 homes sold in 2006, compared with 751 in 2005, a 51 percent decline. The largest numerical drop came in the $200,000 to $300,000 range, where the total homes sold dropped from 1,662 in 2005 to 1,080 in 2006. Total home sales in Jackson County dropped by 32.5 percent, from 4,159 in 2005 to 2,805 in 2006. Median prices fell from $295,000 to $275,000. Some of the sales statistics can be misleading. In Phoenix, for example, the median sales price jumped to $565,000 from $240,000 in 2005. But very few properties actually were sold and many of those that did were at the high end, which skewed the figures. Mullane suggested falling prices on the low end might have hurt some sellers who didn't have a great deal of equity in the house even after a year or two. If a home was bought for $210,000, Mullane said, the seller wasn't necessarily in a position to sell it for much less than $190,000. Talent and Gold Hill saw the biggest declines in activity, but Mullane suggested sales will pick up in Talent in the months ahead, as new developments open up. "There were only six new construction homes sold in Talent last year," he said. "There could be 100 new construction homes sold there this year. The supply just wasn't there." Reach reporter Greg Stiles at 776-4463 or e-mail [email protected] . Would you like to respond to this story? If so Click Here to visit our forums. Advertisement Copyright © 1997-2007 Mail Tribune, Inc. All rights reserved. Privacy Policy | Terms & Conditions | Website Feedback online casinos news Home Security Systems Online Casino Reviews Online poker at AbsolutePoker.com Fundraisers UK Homeowner Loans Casinos Canada Entertainment Guide Texas Electric Choice Compare Electric rates in Texas Windermere Van Vleet Trunks, Footlocker Men's Clothing Debt Help