Why Live in Prospect
Prospect, a neighborhood in Shady Cove, offers a variety of housing options including single-family homes, manufactured houses, and empty lots for custom builds. The single-family homes are primarily midcentury bungalows and ranchers, often constructed from wood and situated on large lots, with some properties exceeding one acre along gravel roads deep in the woods. Recreational vehicle owners have access to two RV parks, including Mountain Village, which also features manufactured homes. The area is known for its affordability, with home prices significantly lower than the Medford metropolitan area. Outdoor enthusiasts will appreciate the extensive network of trails leading to scenic spots like Pearsony Falls, the Avenue of the Boulders, and the Mill Creek and Barr Creek waterfalls. Crater Lake National Park, a major tourist attraction, is just 25 miles away, offering activities such as snowshoeing, cross-country skiing, and ice fishing in the winter. The community gathers at the Prospect Café and Trophy Room for meals, live music, and events, while the historic Prospect Hotel and its Dinner House provide dining and lodging options. Annual events like Music in the Mountains and the Jamboree and Timber Carnival draw residents together for live music, food, and traditional contests. The main thoroughfare, Crater Lake Highway (Route 62), connects Prospect to nearby cities, with the Rogue Valley International Medford Airport 42 miles away for broader travel needs.
Home Trends in Prospect, OR
On average, homes in Prospect, Shady Cove sell after 8 days on the market compared to the national average of 52 days. The median sale price for homes in Prospect, Shady Cove over the last 12 months is $140,000, down 12% from the median home sale price over the previous 12 months.
Median Sale Price
$140,000
Median Single Family Sale Price
$199,500
Average Price Per Sq Ft
$181
Number of Homes for Sale
1
Last 12 months Home Sales
3
Median List Price
$228,500
Median Change From 1st List Price
3%
Median Home Sale Price YoY Change
-12%