What sold in Ashland this summer?

Thirty-seven homes closed in the City of Ashland this summer, the most of any quarter so far this year. The headline numbers are steady. Underneath them, the sales split into two groups that behaved almost like opposites.

THE QUARTER AT A GLANCE

Closed sales | 37

Total sales volume | $8,411,035

Average sale price | $227,325

Median sale price | $215,000

Average days on market | 36.6

Median days on market | 16

Average sale price as a share of asking | 97.3%

Sold above / at / below asking | 12 / 4 / 21

How they sold | 22 conventional, 8 cash, 4 VA, 3 FHA

Q3 accounted for about 45 percent of the year's 82 sales and about 52 percent of its $16.3 million in volume. Compared with the second quarter, the median price rose from $209,500 to $215,000, and the average from $199,812 to $227,325.

Thirteen homes sold within a week. They averaged 102.5 percent of asking. Eight closed above asking. None of the thirteen had cut its price.

Another 13 took a month or more. They averaged 94.5 percent of asking. 10 of the 13 had reduced their price at some point.

The remaining 11 homes fell in between, selling in 8 to 30 days. The pattern is the same one visible across the whole year to date: the fastest sales paid the most, and the slowest had usually already come down in price.

August was the busiest month of the entire year to date, and 12 of its 16 sales closed below asking. Across those 12, the homes sold an average of about $16,000 under their asking prices. September's median price, $175,000, was well below August's, even though the month had 13 sales.

The quarter's highest sale price was $640,000 for 2812 Fellman Drive, which closed August 21. It had been on the market 295 days, listed at $695,000 and reduced to $625,000. It sold at 102.4% of the reduced price. Also above $400,000 were 123 22nd Avenue West ($499,000 on a 5.24-acre lot, September 18) and 822 Chapple Avenue ($451,000).

At the other end, only three of the quarter's 37 sales were under $100,000, compared with six of 19 in the first quarter.