Greetings:
WINCO OPENS…… in Roseburg! Large crowds showed up on November 6th at 8:30 am at the Grand Opening and were greeted to new grocery experience in Roseburg. WinCo is based in Idaho and is employee owned. The best part, in addition to offering a variety of food items, they will employ over 190 employees, which will help our local employment picture as well as our economy. We are happy that WinCo chose Roseburg and that they will grow with our community. The store is located off Stewart Parkway across from Mercy Medical Center.
Plans for a new housing subdivision in Sutherlin have won preliminary approval from the city officials, which will help meet our need for housing in our communities. The proposed Ridgeview Subdivision calls for 91 homes to be built on 22 acres located off Scardi Blvd., just north of the Oak Hills Golf Course. This will be part of a 193-acre planned subdivision that will occur in different phases over time. The developer, Goodfellas of Sutherlin LLC, is very excited about entering into the Sutherlin housing market.
The National Association of Realtors Chief Economist predicts, “The real estate market will see an uptick in new construction because many builders have been sitting on the fence and will decide to build rather than wait.” To make new homes more affordable there is a growing trend to build homes in the 1000 square foot range. In fact, I attended an open house sponsored by Sunrise Enterprise to view their new model of homes they are constructing. These small homes will offer an alternative to the affordability of new construction. This will offer a much-needed supply of homes and will be a win-win for those that want to buy a home in a lower price range. Good stuff to come and thank you Sunrise Enterprise for reaching out to our community.
In our local real estate market, the average sales price through October has decreased (-4.9%) from $360,400 in 2022 to $342,700 in 2023. In the same comparison, the median sales price has decreased (-3.1%) from $325,000 to $315,000. As we compare October 2023 to October 2022, home values have decreased from $375,700 to $319,300 (-15.0%). Douglas County is following the national trend of home prices decreasing.
New listings for the month of October were 138 which is down from 155 in September of 2023. Year-to-date there have been 1,562 new listings, which is down by (-14.6%) from last year at 1,830. Currently, there is a 4.2-month supply of listings on the market which is the highest inventory supply since the lowest it’s been at 1.0 months in March 2021.
There were 24 houses sold last month in the $200,000 to $300,000 followed by the next closest price range $300,000 to $400,000 price range when 21 were sold. There were 11 homes sold in the $500,000 to the $1,000,000 price range and 1 at the $1,000,000+ price.
Our closed sales decreased in October 2023 to 92 compared to September 2023 at 103 (-10.7%). They are also down (-18.2%) when comparing year-to-date 2022 at 1,356 to 2023 at 1,109.
Some areas continue to see increases in value. Both NW Roseburg and SW Roseburg continue to see values go up with the average sales price at $492,300 (+1.0%) in NW Roseburg and $444,000 (+8.4%) in SW Roseburg. Myrtle Creek and South County saw an increase of (+9.6%) to $295,300. These areas tend to not only have higher average priced homes, but many are on the river or have large acreages.
As we celebrate Veterans Day and Month, please remember all those that served and fought for our freedoms. OUR FREEDOM IS NOT FREE! Also, please keep all the men and women that are serving in the military, plus our health care workers and first responders along with their families, in your thoughts and prayers.
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