Cave Junction currently leans toward sellers, with the market gauge at 33 out of 100. Buyers still have leverage, though, because inventory is high at about 11.7 months of supply. Typical home values over this rolling three-month period are around $275,000, noticeably lower than a year ago.
Home values and asking prices have both eased compared with last year, with the typical home value down roughly 15 percent year over year and the median list price down about 5 percent. At the same time, the share of homes sold above list has slipped to 20 percent, and the average sale-to-list ratio is just over 95 percent, signaling that many sellers are negotiating on price. Homes are taking longer to move than they did a year ago, with the median days on market stretching to 80 days in this three-month window.
Listing activity has shifted as well, with active listings up more than 30 percent year over year while new listings have fallen by roughly 17 percent, suggesting more properties are staying on the market. Yet demand is not absent, as pending sales have risen about 13 percent year over year even though closed sales are down nearly 15 percent. With these mixed signals, both buyers and sellers in Cave Junction can benefit from an Agent Pronto–recommended real estate agent who understands the latest data and can guide them through local conditions.
