If you are considering selling your home in the Ashland, Medford area, you may want to start tracking the listings in your neighborhood. Are the prices going up or down? Listing prices are not the same as sold prices, but can give an indication of where the market is going.
Of course, calling your broker to enlist her help is the best way to find out what truly is happening, but in the meantime, following the price reductions or the number of quickly sold properties in your neighborhood will give you a clue.
In a down or up market, it is best to price your property to where you think the end price will be. So in a down market don't price you home at a higher price than the homes that sold many months ago. You want to price your property at no more than 3% over what your agent anticipates the sold price will be.
So if homes in your area sold 6 months ago for about $100,000 and the market is slipping downward at about 1% per month, then don't list your house for more than $100,000. If you do, you risk chasing the market, and always being behind the price reductions of your neighbors.
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