When is the Best Time to Sell?

In Southern Oregon, you hear a lot about a summer selling season for real estate. Or you hear it’s best to list your home in the winter when there is less competition. Both statements have a ring of truth, but there is a lot more behind the numbers.

The year generally starts out slow, and you can see below that last year, 718 existing homes sold in the first quarter, taking an average of 51 days to sell. (Interesting note, 2020 has started with less than 800 existing homes for sale). It is true there wasn’t much for sale in the first quarter. You can see below that we averaged less than 1,000 homes for sale but low inventory didn’t help sellers or buyers. Even with low inventory, only 24% of the homes sold, taking an average of 51 days to sell.

Then comes spring and summer when the majority of sellers list their home, and the buyers have the greatest selection. Many sellers don’t want to list their homes until the grass turns green, the blossoms bloom and the sun comes out to stay. By far, we have our greatest selection in spring and summer, which is good for buyers, and we have the most buyers which is good for sellers. You can see that over 1,100 homes sold in both spring and summer and buyers had over 1200 homes to choose from. Bottom line, about 30% of all homes for sale in spring and summer sold, and they sold, on average, in 43 days.  

Lastly, fall rolls around and a lot of homes that were for sale, have sold. We still have a large number of buyers but the buyers have less homes for sale to choose from. Last year, existing homes for sale dropped to 783 by December, and a record 37% of them sold in about 48 days! For buyers, there isn’t much selection, but for sellers, Fall is when sellers have the greatest chance to sell their house. 

Being that the largest percentage of homes that are listed sell in the 4th quarter, you might think that fall is the best time to list your home for sale. That’s true, but, there is one more equation.  The price of the home being listed is a huge factor in determining how long it will need to be on the market before finding the right buyer. If a home is over $500,000 or $600,000, the average number of times you need to show your home before you find the right buyer is huge. Southern Oregon is a small area and we have a thriving real estate market, but higher end homes are a niche and it takes time to find the right buyer. In Jacksonville and Ashland, it takes over 26 showings before you get an offer. This is because homes in Jacksonville and Ashland average well over $400,000 where the buyers are limited. In many cases, it takes six to eight months to find the right buyer and it will take six to eight months before you have 26 interested buyers. 

So Fall is the best time to sell your house with the least amount of competition and the most amount of buyers per listed home, but do remember if your home is over $500,000 or $600,000 it still may take a lot of showing before it sells. 

Have questions about the best time to sell? Let us know:

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2838 LA MIRADA DRIVE, MEDFORD, OR 97504

Charming East Medford Home Evokes Comfort and Ease | $270,000 | MLS# 220107994 | This charming East Medford home evokes comfort and ease. As you step into the living area, you are greeted with plenty of natural light that creates an airy and cozy space to relax. The quaint kitchen has a large window over the sink, breakfast nook, and plenty of built in storage. The home offers a split floor plan and a roomy master bedroom. There is a sliding glass door that leads you to a beautifully manicured fenced in yard with lots of space to play and visit with family and friends. This home and been meticulously cared for. Being just minutes from Asante Rogue Regional Medical Center as well as shopping and restaurants, this location is prime! Sellers are offering a 1 Year Home Warranty Plan.

Like what you see? Get on our showing schedule:

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225 MINER WAY, JACKSONVILLE, OR 97530

Single Level Home in the Heart of Charming Jacksonville | $425,000 | MLS# 220107744 | Single level home in the heart of the charming town of Jacksonville! Enjoy the close proximity to shopping, restaurants and the Britt Festival. The home boasts a generous 1,858 Square Feet with 3 bedrooms and 2 bathrooms. A large family room and living room with fireplace make this the perfect home for entertaining guests. 0.24 acre lot size gives you just enough privacy from your neighbors. New roof in 2018. Don’t miss out on the opportunity to live in the heart of Jacksonville!

Like what you see? Get on our showing schedule:

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Recession, Depression, Pandemic, Oh My!

As we slowly return to normal, and we can find toilet paper in the stores and restaurants with open doors, we do have to wonder if we’ll ever be the same. 

I look back on my life and how all the economic events shaped it and changed its course. I know our current pandemic, and resulting recession, will most likely have as much or more effect as past events in my life. I can only guess what the long lasting effects will be, but I wouldn’t be here if it wasn’t for the past economic events shaping the course of my life and creating the road I took. 

The first economic event that changed the course of my life was the dot.com boom, then the subsequent bust in early 2000’s. I was living in the San Francisco bay area and had started a web development company that I named eBusiness Design. We helped pre-existing and new dot.com companies develop and implement their online strategies. There was an incredible boom and massive growth in the use and adoption of the internet and business was booming. Money flowed in from investors all over the world to fund dot.com start-ups. At the peak, the NASDAQ index rose 400%, only to come crashing down 78% from the peak by October 2002 creating the first recession that changed my life. Needless to say, most of my business with dot.com companies disappeared and the majority of companies in the high-tech field were economically devastated.  Knowing high-tech would not recover for a few years, I had to reinvent myself and my career. I have always vacationed in Southern Oregon and it was my favorite place to visit, so it made sense, if I was going to start over, I should do it in a place I loved. Because I love our area so much, I knew I would be good at selling Southern Oregon and that is exactly what I did. I moved to Southern Oregon, became a Realtor, and started selling Southern Oregon all because of a recession that had changed my life. 

The next economic event that changed my life was the real estate crash and recession of 2007. Whether you call it a recession or depression, millions of families lost their homes all because of excessive speculation in the housing market combined with poor oversight of the lending institutions. I went from selling over a hundred homes a year to just a few. Home prices declined so quickly that buyers were understandably scared off and homeowners gave their homes back to the lending banks as their home values became less than what they owed. My partner and I sat down and asked ourselves how are we going to survive this housing crash? We knew we couldn’t sell most of our client’s homes because they owed more than we could sell their house for. Our idea was, if we can’t sell our clients homes, we could rent them out, cover their mortgage cost until home prices increase and then sell them. We were worried that the depression and growing unemployment rate would cause the rental market to drop but the opposite happened. So many families lost their homes and entered the rental market that the demand outstripped the supply and rental prices went up. Fast forward to today and home values far surpassed 2007 values and are increasing by about 6% a year. Many of the home owners who chose to rent out their homes in 2007, are still renting them out through us
and enjoying a monthly income stream.  Some of our clients have purchased additional rental homes and have become true real estate investors. Now we sell real estate, have a property management company and a short term furnished rental company for travelers and house hunters. Again, my life was changed by economic events out of my control.

This brings us to the current pandemic and the recession it has caused.  How will this change our lives, what will be different moving forward? During the pandemic, millions of American workers were forced to work from home. In many cases the employees have been more productive and enjoy not commuting. We are already seeing more buyers from California looking to move here while continuing to work for their California based employers. It’s very likely we will see more employees working from home and having the choice to live where they want to live and not where their company is headquartered.  

Life has seemed to slow down, I have less desire to go out all the time and I have no desire to be in large crowds. Spending time at home with my family seems more inviting than it has been in the past. I don’t want to leave my little town of Jacksonville and I want to support all of our local merchants and not national restaurants and big box chain stores. Community now seems more important, and traveling less inviting. I’m happier to be where I am today and thankful for the past events that created the road that got me here! 

3540 MICHAEL PARK DRIVE, MEDFORD, OR 97504

Light, Bright, and Everything Right | $350,000 | MLS# 220105673 | This clean East Medford home features a light & airy great room with oversized windows and vaulted ceilings that just let the light pour in. The freshly-painted kitchen cabinets make the spacious kitchen feel clean and modern. Relax in the shade on the covered back patio and enjoy the detached shed to neatly store all your tools and toys. Beyond the three spacious bedrooms, you will find a large laundry room/ bonus room, workshop, fenced RV parking, and a 2-car garage with plenty of cabinet space and storage. This home sits on a private, looped road close to shopping and restaurants. Come see it today!​

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