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0 of 3 Premium Clicks used this month SUBSCRIBE Print + Online Subscriber Activation | Register x Forgot Password | Need an Account? e-edition | subscribe | newsletter | deals Home News Latest Stories Since You Asked: Pointed in the direction of Albuquerque Get Up & Go: Dec. 12 Clothes, toys would brighten holidays for family of seven Emergency services Most residents speak against gas pipeline Crime, Courts and Emergency Services Emergency services Two arrested in connection with Monday gunfire Deadly storm: Winds brought heavy across region Criminal charges won't be filed in pedestrian death From social media: the Rogue Valley storm Politics and Elections Time running out for O&C funds GMO vote recount still shows little change GMO labeling votes recounted under careful watch in Jackson County Kent Bush: First Amendment doesn’t mean what you think it means East Medford's the charm Education A lesson in giving Hedrick student council works to clean up the language Table Rock solid: Elementary school praised for keeping attendance up Eagle Point superintendent invited to White House Eagle Point secures perimeter of Table Rock Elementary with new fence Environment Most residents speak against gas pipeline Coalition asks for defense of GMO ban Home Help: Make your new house feel like home Bighorn sheep reintroduced along Klamath River Jackson County judge dismisses one Mt. 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K-BAR ignites agriculture boom beneath Table Rocks State lags on grocery inspections Blog: Bear Creek Plaza next up on the market Silvio Calabi: The world loves a Wrangler Real Estate News More sales, but no change in residential housing median price Dear Monty: Violation of HOA rules creates conflict Farmers file suit over GMO crop ban People In Business People in Business, Dec. 3 People in Business, Nov. 18 Transportation Allegiant Air will resume Medford-Phoenix service May 22 Agriculture K-BAR ignites agriculture boom beneath Table Rocks Southern Oregon wine industry had a robust 2013 Farmers file suit over GMO crop ban Lawsuit seeks to overturn Jackson County's GMO ban or net $4.2 million for farms Latest count shows Measure 92 supporters narrowing deficit Opinion Latest Our View: Cheers and jeers Letters to the Editor, Dec. 12 Guest Opinion: Suit threatens family farms and democratic vote Granlund cartoon: Flu shots less effective this year Jim Brock: We can move beyond torture Editorials Our View: Cheers and jeers Our View: Sentencing reform pays dividends Our View: Find middle ground on timber policy Our View: Making sense of Medford crime numbers Our View: Land takeover a sincere but empty gesture Letters to the Editor Letters to the Editor, Dec. 12 Letters to the Editor, Dec. 11 Letters to the Editor, Dec. 10 Letters to the Editor, Dec. 9 Letters to the Editor, Dec. 8 Guest Opinions Guest Opinion: Suit threatens family farms and democratic vote Guest Opinion: SOU pool decision short-sighted Guest Opinion: It's time for biologists to let OR-7 go dark Guest Opinion: It's time Oregon put a price on carbon Guest Opinion: Are we the preferred path to global devastation? 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Guest Opinion: Suit threatens family farms and democratic vote ... Most residents speak against gas pipeline ... Our View: Cheers and jeers ... Guest Opinion: Suit threatens family farms and democratic vote ... Most residents speak against gas pipeline ... REAL ESTATE Jackson County real estate sales, prices continue rebound By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 6, 2014 @ 11:43 am Updated Oct 6, 2014 at 12:02 PM By Greg Stiles Mail Tribune Posted Oct. 6, 2014 @ 11:43 am Updated Oct 6, 2014 at 12:02 PM » Social News After getting off to a lethargic start the first three months of 2014, the Rogue Valley residential real estate market has picked up. And while much of the country could blame the year's slow start on super storms and deep freezes, there was no such scenario in Southern Oregon. "It's hard to know what interfered with the process here," said Colin Mullane of Full Circle Real Estate in Ashland. "Maybe it was consumer confidence; it's hard to tell." What was clear, in early  2014 monthly residential real estate sales were off anywhere from 10 to 20 percent, year-over-year — somewhat worrisome considering the market has yet to regain the pre-bubble heights of 2005 and 2006. Through March, sales fell 15.9 percent to 347 deals from 413 a year earlier. At the time, agents bemoaned a lack of inventory, while others noted investors had backed off as distressed sales receded and interest rates were rumored to rise. Then, for no particular reason, buyers began signing on the dotted line and the inventory grew. The market picked up steam in the following six months, pushing the the transaction total to 1,788 though the first nine months of year from 1,710 in 2013 — a 23.4 percent swing that created a 4.4 percent gain.  "We've not only caught up to last year's sales, but surpassed last year's sales," Mullane said. "I wouldn't have predicted that." On one hand, sub-4 percent mortgage rates have spurred sales, but there are factors as well — not the least of which is mounting homeowner equity — as median prices climbed even when the pace of activity slowed. "Sellers are getting more ambitious," said Ron Galbreath of Coldwell Banker Pro West Real Estate in Medford. "People who were hesitant to sell because they didn't have as much equity can finally sell and make enough to buy another home on their way out." Between July 1 and Sept. 30, Jackson County home sales activity rose 7.2 percent over a similar period in 2013 as 580 single-family residence transactions took place compared to 541 in 2013. Southern Oregon Multiple Listing Service figures showed the median price for sales during the third quarter of 2014 rose 9.3 percent to $218,500. Rural property saw an even bigger 10.3 percent bump to  $317,500 from $287,900. Mullane said potential interest rate spikes have hung over consumer heads for more than two years. "They know it won't last forever, but they're mindful it's not going to get much better." Mullane said. Galbreath hesitates to predict the momentum will continue, but points out Federal Reserve Chair Janet Yellen is pushing for higher rates after the first of the year. In east Medford — the typical county bellwether — activity advanced nearly 20 percent in the third quarter with 195 sales compared with 159. The median price rose to $237,000 from $222,000 during that period. "People that couldn't sell three or four years ago, because they couldn't take the loss, are selling now," Mullane said. "Part of the market moves organically, and people wanting to downsize, upsize or do something different can do that now. They didn't have the urgency when the market was bad; now they can get out in a positive way." Five years ago, the east Medford median price was $209,000, which left many homeowners with little equity or underwater. "They can sell now ," Mullane said. "We couldn't sell the high-end homes there for a while." Five of 13 SOMLS regions saw double-digit median gains during the third quarter, led by northwest Medford, which saw its median climb 48.5 percent to $183,750 from $123,750. Ironically, it was one of four regions to have fewer sales from July 1 through Sept. 30. As of Sept. 30, Jacksonville, Shady Cove/Trail and Talent were the only areas in the market to see fewer homes on the market than a year ago. Overall, inventory rose 15.8 percent to 1,364. Reach reporter Greg Stiles at 541-776-4463 or [email protected]. Follow him on Twitter at www.twitter.com/GregMTBusiness , on Facebook at https://www.facebook.com/greg.stiles.31 ,  and read his blog at www.mailtribune.com/Economic Edge .   By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted Oct. 6, 2014 @ 11:43 am Updated Oct 6, 2014 at 12:02 PM » Comment or view comments Reader Reaction » STAY INFORMED Email NewsLetter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. calendar Connect with MailTribune.com Facebook Twitter RSS Back to top Reader Services Reader Services Home Subscriptions Subscriber controls Contact us Submissions Photos Events Letters to the editor Corrections Announcements Obituaries Story ideas Since you asked Alerts Email Alerts RSS Feeds Text Alerts Advertise Media Kit Home Products and services Ad rates Advertising contacts Mail Tribune Daily Tidings The Nickel Shop Our Valley Blogs Stay Informed Email newsletter Sign Up Today Sign up for our newsletter and have the top headlines from your community delivered right to your inbox. 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