Now that the Ashland fire is apparently under control, I can return to the boring statistics of Ashland Oregon real estate. I’ve come to the conclusion that statistics are not exciting for anyone to read. I post them because I personally find them fascinating, but I don’t consider myself to be a boring person. I’m not really sure what that says about me.
So perhaps I should start with a joke. This actually comes from the homepage of the American Mensa Societywhich I was looking at to see what you had to do to be part of Mensa. I have no idea what Mensa meetings are about. It seems kinda strange to me, but I got curious yesterday. But when I found that one of their incentives to get you to join was people will understand your jokes. Now that got me interested.
Also, for the record, I’m a sucker for “walks into a bar” jokes. I named my dog after one.
But first, the stats. Ashland specific stats were requested by my friend, and a local lender for BofA, Linda Fitzgerald.
Currently there are 234 Residential listing in the city of Ashland. 33 Pending sales, and 22 places closed escrow in the last month. That actually is pretty good news as far as I am concerned. An absorbtion rate (length of time at current sales volume for inventory to run out) of just over 10 months is really pretty good in the current market. The breakdown goes like this:
- 13 Listings under $250k with 6 pending sales and 4 closed transactions last month…absorbtion rate of 3 months.
- 55 Listings between $250k-350k with 14 pending sales and 9 closed transactions last month…absorbtion rate of 6 months.
- 80 Listings between $350k-500k with 8 pending sales and 5 closed transactions last month…absorbtion rate of 16 months.
- 48 Listings between $500k-750k with 4 pending sales and 2 closed transactions last month…absorbtion rate of 24 months.
- 22 Listings between $750k-1 million with zero pending sales and 1 closed transactions last month…absorbtion rate of 22 months.
- 16 Listings over $1 million with 1 pending sale and 1 closed transaction last month….absorbtion rate of 16 months.
You’ll note that below $350k is really strong as far as sales go…and that between $500k and $750k is the hardest competition for sales. By that I mean the fewest sales compared to the number of places listed.
The CEO of Geico walks into a bar with his spokesperson the lizard from all of those commercial. Bartender comes over, and after getting an autograph asks them what they would like to drink. The CEO says I would like a Bombay Blue Sapphire martini, and can you get a half pint of Guinness for my friend Tiny here.
Bartender says sure, but why do you call him Tiny?
The CEO say well, obviously because he’s my newt.
(Let the groans commence)