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Housing market stable for holidays By GREG STILES Mail Tribune Moderately priced homes in Central Point continued to change hands at a rapid rate in November, while sales of high-end Ashland properties declined for the fifth consecutive month. The average Central Point single-family home transaction has been $149,075 this year, up from $139,691 in 2000. But the relatively bargain rates have led to an increase in sales by nearly 26 percent for this year. Only West Medford shows greater gains, where the sale of 404 homes has nearly tripled the 310 sold through the previous November. Coming off back-to-back months where Central Point unit sales rose by more than 50 percent, November transactions dropped by 25 percent from the previous year. But the 40 houses sold in 2000, marked the second most active period that year. "The market has been very good and interest rates are still very good," said Kim Hurley an associate broker with Coldwell Banker Pro West Real Estate. "Our office has still been pretty much right on target. "New construction leads the market throughout the area and there's been a tremendous amount of construction in the Central Point district." While new subdivisions have spurred the Central Point and Southwest Medford market, Ashland fell off the 2000 pace by 99 units at November's end. A primary factor, of course, has been price as the average sales price climbed to $278,356 - $43,356 more than a year ago. According to figures compiled by Roy Wright Appraisal Service, the county's only area showing a year-over-year decline in sales price in November was East Medford, where the average closed deal fell by $3.391. "There have been a few months like that this year," Wright said. "The number has kept wavering plus to minus a very small amount which tells you basically that East Medford is relatively stable." He predicts that a variety of pending developments will boost both sales and prices in the near future. "There are going to be a lot of lots coming on line this next year off of North Phoenix Road," Wright said. "You are going to see big gains in East Medford in 2002. The lack of homes available in East Medford has made Central Point more attractive; you will probably see declines in Central Point. In Phoenix and Talent, sales slowed to a crawl last month, but are only off 2 percent from last year overall with the price up 6 percent to $139,959. Hurley said the county's open houses have been well-attended in recent weeks, but not necessarily by prospective buyers. "When you've got new construction, a lot of people come in looking for ideas," Hurley said. "But buying has been pretty steady through the holidays." Reach reporter Greg Stiles at 776-4463 or e-mail [email protected] . Mail Tribune Home | Ottaway Newspapers, Inc. | Dow Jones & Co., Inc. | Privacy | Contact Us Copyright � 2001 Mail Tribune, Inc.