What everyone seems afraid to ask or….
What everyone’s afraid to ask….OR….. The “How’s the Market” Blog
Another year has passed in the great recession that we all are going through. It has been a tough time financially for many of us.
Being a real estate professional, I still get asked how the real estate market is, although admittedly not as often as it used to be. I believe many people don’t want to hear the answer.
So I will do my best without rambling to let you know what I feel is the state of the local real estate market.
This Is The New Normal
I don’t believe we are going to be seeing any big shifts in the real estate market in the coming year(s). What you see out there right now is pretty much how I think things will stay.
My statistics show that:
- Roughly the same number of houses sold last year as the prior year.
- Number of houses on the market for sale (inventory) is down 24% from last year.
- Median prices are staying somewhat level…slightly up in some areas, and slightly down in others
- Average days on market for listings is stable at about 90 days
- Distress sales (Foreclosures and Short Sales) make up close to 50% of the solds…and 25% of the active listings
What this boils down to is there are a lot of great deals out there…especially in the distressed sale market. This can be good for those who are looking to buy.
However, those looking to sell are going to continue needing to compete with the distressed properties.
For more information on the Ashland Real Estate Market, visit my website. www.AgentInAKilt.com
Search for houses currently for sale at www.RealEstate-SouthernOregon.com
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