2023 Year in Review: Volume Down, Values Steady in Douglas County
Real Estate Broker · Douglas County, OR
This is my own review of the 1,287 residential sales recorded in Douglas County during 2023. Despite the predictions of doom and gloom, the overall real estate market was surprisingly robust in 2023. The total volume of sales continued to decrease, dropping about -16.8% compared to 2022, the 3rd straight year of declining sales volume in Douglas County. The average sale price peaked at $358,000 in 2022 and decreased by -4.30% to $343,000 in 2023, while the median decreased by -2.8% from $324,000 to $315,000. A full 69% of those sales were completed by buyers who had either cash or a conventional loan.
Despite the predictions of doom and gloom, the overall real estate market was surprisingly robust in 2023. This may be the quiet before the storm - but nothing is easy to predict. The total volume of sales continued to decrease, dropping about -16.8% compared to 2022. This marks the 3rd straight year of declining sales volume in Douglas County since the peak in 2020-2021. Overall we are down -29.83% in sales volume since the peak in 2020.
Sold property values have remained remarkably stable with only a slight decrease from the peak in 2022. The average sale price for homes in Douglas County peaked at $358,000 in 2022. That number decreased by -4.30% to $343,000 in 2023. In the same comparison, the median sold price for homes was $324,000 in 2022 and decreased by -2.8% to $315,000 in 2023.
Mortgage rates were in the range of 6.5%-7.5% for most of 2023 with a brief moment at 5.99% in February and less than a week above 8.0% in October. The markets are keeping an eye on the official inflation numbers and government monetary policies as this has proven to be important to the mortgage markets. 2024 is also a presidential election year - which may introduce stability in the markets as speculators and investors wait to see what kind of administration will be at the helm for the next 4 years.
2023 Sales by Type
Below is a breakdown of the 1,287 sales in Douglas County for 2023 by sale type. It is noteworthy that a full 69% of sales were completed by highly qualified buyers who had either cash or a conventional loan. This ratio has been remarkably consistent over the last 5 years, with the only notable percentage shift occurring after COVID. The ratios are approximately 70.91%-2022, 68.93%-2021, 62.13%-2020, 63.41%-2019, and 64.86%-2018.
2023 Home Sales — Breakdown by Type
1,287 Residential Sales · Douglas County
Cash + Conventional Sales — % of Total
Douglas County · 2018–2023 · Highest-quality buyer profile
Cash and conventional loans represent the highest-quality buyer pool — fewer contingencies, stronger offers, and faster closes.
Related Reading
Roseburg and Douglas County Real Estate (January 2024) Market Update
Comparing 2023 to 2022 over the last 12 months in Douglas County, the average sale price has decreased -4.28% from $358,526 to $343,191. In the same comparison, the median sale price has decreased by -2.78% from $324,000 to $315,000. Inventory increased to 4.4 months in December. Total market time increased to 86 days.
Housing Inventory
Months of Supply · 12-Month Rolling Average
Average Sales Price
12-Month Rolling Average · Douglas County
Housing Inventory is months of supply (active listings ÷ monthly sales). A balanced market is ~6 months. Days on Market (DOM) is days from listing to accepted offer. Absorption Rate is the percentage of inventory sold per month. Balanced = 15-20%.