Another year has come and gone and what an incredible year it was. We often reflect on our many blessings, and in this new year we will be doing much of the same. In 2015, our closed sales volume more than doubled from the year before. We aren’t exactly sure how the heck that happened but it did, and boy, are we grateful. As we reflect upon our success we find ourselves being reminded that it all boils down to some pretty simple fundamentals: working hard, being women of our word, and operating on a daily basis from a place of gratitude. Things didn’t always go as planned but we continually trusted that they were happening for a reason. We are humbled by the support we have received throughout 2015, and not just from our business relationships. Our parents, our husbands and the balance of our “village” made it possible for us to continue to live our dream.
As we look into 2016, attempting to predict what’s in store for the coming year, we find that much of the same is true. Our inventory is low and the demand is high. With numerous buyers struggling to find a place, we are encouraging anyone who has remotely considered selling their property to get their place on the market and not to wait. As tempting as it is to wait for the spring blooms to pepper your yard with color, you are likely missing a great opportunity to fetch top dollar for your home. In some ways it feels like we are singing the same tune, but we assure you… the time to sell is NOW!
Keeping our eye on the market trends is such an important part of the service we provide. Having your home positioned properly is imperative if you want to sell. Our months of supply (number of homes available to any one pool of buyers) is ever-changing and sometimes even the slightest re-positioning can make all the difference. Sometimes it involves the price, sometimes it is the terms. We each sold our homes this past year and got to experience it firsthand. When our place was listed, we started at $515,000. At that time, the months of supply for homes in Ashland priced between $500k-$700k was about eight months. Under $500k, the months of supply was around 2 months. We put it on the market, gave it about 10 days of exposure at the higher price, and then made the adjustment. When we dropped it to $499k, we had two interested parties almost immediately and sold it for full price. I had to remind myself that at $515k, I would be willing to take $499k, so why not just trim the fat and make it as attractive as possible to the greatest number of buyers. Dyan experienced a very similar situation when selling her home, and each of our places were under contract within just a couple weeks of listing them.
In reviewing the market activity for the last couple of months in comparison to the same period of time last year, it’s astounding as to what is taking place in the local real estate market. In November alone, the number of pending sales are up 51.6% compared to 2014. That is crazy! The days on market went from an average of 74 to 49 and the total months of supply dropped from 4% to 2.9%.
One of the many reasons we love our careers is it is ever-changing. The housing changes, marketing plans need adjusting, supply and demand fluctuates, and of course, the needs of our clients vary from person to person. We feel that one important service we provide to our clients is knowing the local market, knowing the competition and knowing the comparative sales. We would be honored to share our knowledge with you and explain why today may be the perfect opportunity to move.
Living in Southern Oregon
320 E. Main Street
Ashland OR 97520