Original Listing Price to Selling Price

I admit it has been a long time since I have posted on my blog.  Blame in on the weather, the slightly more active real estate market…or probably the real cause. I have been out of town for something or other almost every week for a day or two.

Or perhaps I just couldn’t think of anything interesting to say…although that has not stopped me before.

I just received some interesting statistics from the local MLS. I have been asking for this graph for quite a while, and finally we have it.

The average list to sales price in Ashland is now, and has been for ages 95-97% of the asking price. I have talked about this before. What that means is that buyers won’t make offers, and/or sellers will not except offers that are not listed close to the market value. The idea of low-balling sellers is not something that works very often in our area. So buyers won’t make acceptable offers on properties until there have been price reductions that put the house in the proper range.

So what I really wanted to know was what was the average selling price in comparison the the “Original” listing price.  Below is the graph for Jackson County Oregon Real estate.

Ashland shows that at this time, the houses that are selling are selling at 85.5% of their original asking price. This is down about 4% from a year ago. That to me is an accurate representation of what I have noticed. Houses that are listed optimistically in the first place do sell when they reach the level. And apparently that level is about 10% less than the original asking price.