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3 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 10 things to know for Friday 10 things to know for Thursday Emergency services Judge backs Medford marijuana dispensary ban Crater Lake may soon have China connection Crime, Courts and Emergency Services Emergency services Suspected Jackson County car thief arrested in Eugene on similar charges Forgery, identity theft charges brought against suspect who fought with police Ashland police hope to crack down on rowdies Peavine Creek Fire fully lined Politics and Elections Pacific Connector Gas Pipeline opponents rally in Medford BREAKING: Baltimore prosecutor charges officers in Freddie Gray's death Earthquakes hit regularly in Medford (Oklahoma, that is) Medford School Board, Position 6: Curt Ankerberg vs. Janet Lightheart Arthur I. 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Search on for new medical provider for Butte Falls, Prospect clinics Dr. Murray Feingold: Turn down that noise Hiking Biking Faith Religion Briefs: Friday, May 8 Religion Briefs: Friday, May 1 Religion Briefs: Friday, April 24 Religion Briefs: Friday, April 17 Religion briefs: Friday, April 10 Milestones and Achievements Drones helping create unique wedding photos Pick your favorite wedding flowers The ring’s the thing Chic brides are choosing a range of complementary colors for their celebration Registries: ‘Year of the groom’ Columnist for a Day Rogue Healthy Aging Tempo Latest stories Flowers, art and music highlight Art in Bloom Live Music in Local Clubs Peter Rowan, Big Sandy & His Fly-Rite Boys at Rootsfest Dancing People Company presents 'Salon Series' Tina Malia at SOU Music Hall in Ashland Theater REVIEW: Randall Theatre's 'Little Shop of Horrors' a rollicking good time REVIEW: Carson, Patton shine in 'Arsenic and Old Lace' Some Oregon Shakespeare Festival crew members seek to unionize Randall Theatre stages 'Little Shop of Horrors' 'Much Ado' at SOU Music Live Music in Local Clubs Peter Rowan, Big Sandy & His Fly-Rite Boys at Rootsfest The Farr Side: Mumford & Sons’ latest is full-on rock Tina Malia at SOU Music Hall in Ashland Earthquake benefit for Nepal Community Events Hip-Hop Poetry Open Mic at OSF's Black Swan in Ashland Ashland's First Friday Art Walk showcases new exhiits by regional artists Master Gardener Spring Fair at The Expo A Taste of Ashland pairs food and wine at galleries Rogue Valley Earth Day 2015 Movies Movie review: ‘Hot Pursuit’ is a hot mess George Miller returns to his ‘Mad Max’ roots Tom Hardy adapts to life as Mad Max Victor D. Infante: ‘Avengers’ begs the questions, ‘Why superheroes, and why now?’ Movie review: ‘Avengers: Age of Ultron’ has a lot going on Dining Trium is a classic example of a boutique winery Restaurant inspections, May 3, 2015 Taqueria Picaro offers casual Mexican cuisine Restaurant inspections: April 26, 2015 Island Grindz serves up Hawaiian specialties Tempo Videos Classifieds Jobs Autos Real Estate FEATURED » Obits Blogs TV Listings Movie Listings Oregon Outdoors Oregon Healthy Living Special Sections Business Services NEWS NOW Our View: Could self-serve ban be on the way out? ... Fishing Report: Friday, May 8 ... Local bass fisher eyes return to collegiate championships ... Our View: Could self-serve ban be on the way out? ... Fishing Report: Friday, May 8 ... Local bass fisher eyes return to collegiate championships ... REAL ESTATE Single-family home sales take off Both the pace of sales and prices rose in the past three months By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted May. 5, 2015 @ 2:33 pm Updated May 5, 2015 at 5:17 PM By Greg Stiles Mail Tribune Posted May. 5, 2015 @ 2:33 pm Updated May 5, 2015 at 5:17 PM » Social News p bs:newslist StartDate="20121121" EndDate="p bs:datecalc Months="3"" DateSort="1" UseObjects="1" ObjectClass="81" Taxonomywords="2325,665" ExactTaxonomyMatch="1" Image="1" Count="4" --> Jackson County home buyers paid top dollar in many cases during the past three months. Southern Oregon Multiple Listing Service reported Tuesday the median price for existing single-family residences jumped 13.1 percent year-over-year, to $214,950 from $190,000, during a three-month period ending April 30. New construction, which often is sold outside the SOMLS system, saw a 10.9 percent median sales price gain to $270,000. "Because of the shortage of good, sellable listings, buyers aren't messing around with offers," said Ron Galbreath, an agent with Coldwell Banker ProWest Real Estate in Medford. "They know while they are playing around with an offer, another one may come in and beat them all together." The inventory of available houses declined 4.1 percent year-over-year as of April 30, with 1,063 in the system compared to 1,108 a year earlier. For the three months ending April 30, the pace of sales picked up 17 percent, with 508 transactions this year compared to 434 in 2014. Home buyers have paid 98.7 percent the original asking price, leaving little bargaining room. "It's stressful right now," said Colin Mullane, of Full Circle Real Estate in Ashland and a spokesman for the Rogue Valley Association of Realtors. "Buyers in the market are either frustrated or getting the hang of it. When they find a house they want, they have to be ready to go, have their loan ready, make an offer quickly and present it to the seller with the best terms possible." Southwest Medford, Gold Hill/Rogue River, west Medford and the Upper Rogue areas were the top median-price gainers, while Ashland and Jacksonville — typically the highest-priced towns in the county — both saw declines of about 4 percent. Mullane, however, said the declines were the result of lower-tier houses being dealt rather than the market declining. "If anything," Mullane said, "prices in both markets are continuing to climb significantly. It was just a case of more homes in lower price ranges selling this year than last. Even those homes, however, are selling for more than they were 12 months ago." With prices up more than 30 percent from five years ago, when the countywide median was $165,000, Mullane hears plenty of talk from buyers wondering whether they are buying at the peak before a correction in prices. "Some are concerned there is a bubble forming," he said. "They use that term because that's what they heard the last time. The difference, and it's true in any market with supply and demand, is that last time the bubble was fueled by easy money. That's not the case today. Fundamentally, your buyers are way-better qualified, with much stricter standards. If values declined or retreated, those buyers are way better off and more equipped to move through the correction, if there is one." Not only are buyers more qualified, they are far less leveraged than a decade ago. "A lot of people are buying homes near or at the current cost of renting," Mullane said. "They're not borrowing at the level they are able to. If they could borrow up to $400,000, they're staying in the $250,000 range and not maxing out. A lot of lessons were learned — absolutely." The median price for new construction in east Medford rose 22.5 percent, to $348,500 from $334,900 a year ago. "It seems when a house is coming to completion and hits the market, it's sold within the first week," Galbreath said. "Builders are able to sell them on their own right now without listing. A lot of buyers are approaching the builders when they see a project going up, so they don't even see the MLS. It almost seems like listing is becoming the last recourse." With the threat of rising interest rates potentially regulating rising prices, Galbreath thinks the present market is vibrant. "It still comes down to affordable listings," he said. "Hopefully, it doesn't get out of hand. We keep hearing interest rates are going to go up. It's not a matter of if, but when." The median price for rural homes during the period was $285,000, up 14 percent from last year's $250,000.  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/EconomicEdge . By Greg Stiles Mail Tribune MailTribune.com By Greg Stiles Mail Tribune Posted May. 5, 2015 @ 2:33 pm Updated May 5, 2015 at 5:17 PM » Comment or view comments /* $( document ).ready(function() { // Jquery mobile is trying to style the button and leaving a blank gry button on top of a white button $("#viafouracoms .vf-comment-controls li.vf-right").html(' Submit '); });*/ » 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 Propel Marketing 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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