FOR the first time since 2014, Bathurst's residential property sales figure could fall below the 700 mark.
Data from CoreLogic shows that the property market has slowed significantly in 2019, with the number of residential sales to the end of November sitting at 627.
During the same period in 2018 there were 694 sales, with the number increasing to 741 by the end of the year.
December is the last chance for Bathurst to improve it's annual figure, but figures from previous years suggest it won't exceed 700.
The last three Decembers have seen residential sales numbers of 47 properties (2018), 55 properties (2017) and 80 properties (2016).
On top of fewer sales, the number of days on market has increased and properties are selling for significantly less than the asking price.
Agent Chapman real estate's David Chapman said the average vendor discount for all suburbs is rising, with South Bathurst seeing the highest at 6.8 per cent, equating to about $23,000.
A close second is West Bathurst, where the average discount is 5.9 per cent.
"Vendor discounts are becoming greater and days on market are becoming greater as well, which is a clear sign that the market is switching to a buyers' market at the moment rather than a neutral market," he said.
Mr Chapman said one of the main factors affecting sales is the drought.
"It does have a knock-on effect across the board, in my opinion," he said.
"At a time when interest rates are at an all-time low, it's a great excuse for purchasers to be parting with their money and purchasing property, but I can only feel there is a level of uncertainty with buyers at the moment with the economic climate."
The other factor, which is a big contributor to days on market, is access to finance.
Mr Chapman said it was frustrating for vendors, agents and buyers that it is taking longer for finance to be approved by lenders, as it delays exchange of contracts.
"I'm finding, on average, it's a minimum of three or four weeks for buyers after an offer is accepted to exchange contracts," he said.
"During that month, the clock is still ticking for days on market."
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With difficult market conditions at the moment, Mr Chapman said it was important that properties are priced appropriately and marketed correctly, otherwise they may stay on the market for a long time.
"There's many things that an agent needs to take into consideration when setting that price for the first time, otherwise the agent and the vendor can set themselves up for failure," he said.
If vendors have had their homes on the market for longer than the average for their suburb, they are encouraged to have discussions with their agents about what could be done differently to sell the property, including adjusting the asking price.