Let’s Talk Real Estate – November 2021
Many were surprised to see the median price of a home in Jacksonville hit an all-time high of $630,000 for the third quarter, ending September 30. Not only is this a record, it exceeds the median home price of Ashland which have held the record for highest home prices in Jackson County for years. Of the 38 homes that sold in the 97530 zip code last quarter, 5 sold for above $1,000,000, 25 sold for $500,000-$999,000, 5 sold in the $400,000’s and 3 sold for under $400,000.
Jacksonville is such a desirable city to live in that it’s struggling to fulfill the demand for affordable homes. The streets are safe and filled with dog walkers, strollers, bicyclists, joggers, even deer and turkeys. It reminds many of Mayberry R.F.D or the Gilmore Girls’ fictional hometown of Stars Hollow. Whether it’s a family with small kids who aenjoy Doc Griffin Park and one of the top-rated elementary schools, or retirees that enjoy walking downtown for coffee, wine tasting, shopping at local merchants, having dinner or listening to live music at one of many venues, this is, for many, the perfect town to live in.
Built in the mid 1800’s by gold miners, Jacksonville sits in the Siskiyou foothills, which adds to its charm, but also means there is not much low-cost, flat land available to develop. The result is the development of hillsides, fill-in, and the division and development of larger lots. At this moment, there are only two new homes for sale in Jacksonville, one on Andrews Place for $795,000 and on Bybee for $725,000. The choices for “want-to-be” home owners in Jacksonville ends up being an old miner’s cottage, one of 5 townhome or condo developments, or buying an existing home in one of a few subdivisions. Nunan Square, one of the most distinctive subdivisions, has had many homes re-sell this year, ranging from the low $600,000’s to the high $800,000’s. At the less expensive end, there have been two condos that sold off Shafer Lane, one for $252,000 and one for $290,000.
None of this means you can’t end up with a great home in Jacksonville. Depending on your budget, you may have to settle for a townhome, a small cottage or a fixer-upper, but they are out there for under $400,000. While this might seem high compared to the $380,000 median price of a home in Jackson County, Jacksonville provides a unique lifestyle not found in many places. You do have to make the choice between really nice, newer homes in East Medford, priced in the mid $400,000’s, or a small, older cottage in Jacksonville priced the same. It’s not a hard choice to make when you remember the three most important things in buying real estate—Location, Location, Location!