Very interesting stats just came out about available homes on the market per buyer. Which could speak to what will be happening in 2019. Whether it is attributed to the general economy, or the fallout of 2 straight seasons of smoke in the valley remains to be seen. It is most likely a combination of both.
Ashland has seen a 30% increase in the total available homes on the market, and a 20% decrease in the number of buyers over the year. This has resulted in a jump in the available homes per buyer from 2.6 a year ago, to 11.7 at the end of January 2019.
Nine of the reports MLS areas saw an increase in the available homes per buyer, while 4 areas saw a decrease. Overall across Jackson County there has be a 50% increase in the number of homes available per buyer over last year. The current numbers show a fairly stable market. So at this time it is neither a buyers’ or a sellers’ market. But if the trend continues, we could be headed into a buyers’ market.
The 6th month trend of sales price to original listing price has been decreasing. This will be seen by an increase in the number of price reductions that are happening in the market. We are seeing that pricing homes trying to lead an appreciating market is no longer a workable strategy.
At this time there has not been a noticeable decline in average sales prices. But we are also keeping our eye out for that.
On the up side, there has been a small increase in the number of pending sales. And a decrease in the number of days on the market.
2019 will prove to be an interesting year.