The city is showing signs of defying national and countywide trends of an end-of-the-year slowdown

By Carrie Dahle

As the colder months approach, the real estate market in Ashland is showing signs of defying the usual winter slowdown.

Traditionally, winter is a quieter season for home buying and selling, with many homeowners waiting until spring to list their properties. Buyers typically prefer waiting out the holiday season before making big purchases. However, this year may be different. The statistics tell a story of local and national shifting trends, suggesting that this winter could be more active for the housing market than in past years.

On a national level, real estate professionals claim that Sept. 29 to Oct. 5 is the best time to buy a home in 2024. Buyers are encouraged to take advantage of lower competition and favorable conditions, particularly as we see a significant increase in homes for sale nationwide. While this isn’t always the case in smaller local markets, Ashland follows some of these trends.

Ashland is seeing a 36.6% increase in homes for sale compared to last year. This increase is remarkable, reflecting a stronger winter inventory than usual. More homes on the market means buyers have more options, which is good news for those waiting for the right time to buy. Additionally, with the lowest interest rates in two years, buyers may find themselves in a better position to finance a home purchase, making the winter season an appealing time to shop.

Not only is inventory increasing, but buyer activity in Ashland is also trending upward. One of the key indicators of buyer interest is how many homes are going under contract, and in Ashland, this figure is up by 12.4% from last year. This increase suggests that more buyers are actively making offers and committing to purchasing homes, signaling a more robust winter season for home sales in the area. However, this increase also suggests more competition, which can lead to higher home prices. 

It’s important to note that Ashland is somewhat of an outlier in Jackson County. While buyer activity is increasing here, the broader county is seeing a different trend. In Jackson County as a whole, the number of homes going under contract has dropped by 11.1% from last year. This decrease reflects more of the national pattern, where the cooling market leads to fewer closings and suggests that buyers have more options and a better deal. But Ashland’s unique market, appealing to buyers seeking a blend of small-town charm, culture and proximity to natural beauty, seems to be bucking that trend — at least for now.

Ashland is again diverging from county and national trends regarding home prices. Ashland’s average price per square foot has risen by 15.2% over the last year. This increase is in stark contrast to the slight decline in price per square foot seen in Jackson County, which is down 0.4%, aligning more closely with the national market trends. The increased price per square foot in Ashland reflects continued demand for homes in the area, even as the market shifts seasonally.

With increased inventory, higher buyer activity, and rising home prices, Ashland is experiencing a more dynamic real estate market heading into winter than expected. That being said, the market remains unpredictable. On the one hand, buyers have been waiting for more favorable interest rates and increased inventory, and that moment may have arrived. On the other hand, larger economic factors could still affect the market, and it remains to be seen if this trend of increased winter home buying will continue.

For buyers considering purchasing a home in Ashland, now could be the perfect time to move. With more homes to choose from and a steady stream of buyers putting homes into contract, waiting until spring may mean missing out on an opportunity. The combination of favorable interest rates, increased inventory and a local market heating up rather than cooling down presents an encouraging scenario for winter buyers.

In conclusion, while Ashland’s winter market is shaping up to be more active than usual, it remains a mixed bag with no guarantees. However, if you’re a buyer who has been on the fence, now might be the perfect season to take advantage of the opportunities available. The Ashland market may surprise us again as we move through the colder months.

Ashland resident Carrie Dahle is president-elect of the Rogue Valley Association of Realtors and principal broker at John L. Scott, Ashland. Email her at [email protected].