It's been an interesting summer, as the market continues to try and find it's balance. I've had a pretty good year so far, considering the challenges we face.
As of the end of June, we have 1,013 homes on the market, giving us an inventory ratio of about 20 months. This is an unbalanced ratio, meaning too many homes on the market compared to what is selling. A more balanced ratio would be under 12 months. This tells me we still have some pressure to lower prices and encourage home purchases.
Easy enough, but with unemployment at high levels in Klamath County, and people who may generally relocate unable to sell their houses where they are currently living, it is keeping homes on the market much longer than normal.
The homes that ARE selling are the very competitively priced homes, competing with the foreclosures.
I have had pretty good success with my listings this year, as I've been able to get sellers to realize the challenges we are facing, and to price their homes to compete with what is available.
I am currently in the top 10% of agents in Klamath Falls, and my numbers speak for how hard I am working for my sellers. With an average list-to-sales price ratio of 96.79%, I am listing my homes right and getting offers near asking price. Also, my average days on the market is at 86, compared with our county-wide average of 173!
I hope this information is helpful. If you have any questions on the state of our market or would like me to send you more comprehensive statistics, I would be happy to help.
You can also view market information at my website: www.KimSwagert.com.