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The recent downturn in the oil and gas industry is compelling buyers to act now and sellers to wait until next year.Want to sell your home? Get a FREE home value report. Want to buy a home? Search all homes for sale.As we’re all aware, Marcellus Shale came in and created quite a boom here in Washington County. There was new construction, new development, more buyers moving into the market, and new employees pouring in from oil and gas companies around the globe.Recently, though, there’s been a downturn in the oil and gas industry, and gas prices have dropped pretty dramatically. This has caused a lot of those same companies to pull their employees back out of this area. How has this affected the housing market?The Pittsburgh Business Times recently published an article that stated that the overall sales numbers through the first half of 2016 were equivalent to the numbers over the same period in 2015. The average sale price and median sale price have both dropped in the Washington County market. However, both the median sale price and the average sale price have dropped in Washington County. The average sale price has dropped roughly 5% from $202,000 to $192,000, while the median sale price has dropped 7% from $170,000 to $157,000.If you’re a buyer, now might be the time to make a purchase. With all these people looking to relocate, you might get a property at a bit of a discount. If you’re a seller, you might need to hold off until next year, or if you absolutely must sell now, prepare to take a haircut on the sale price. All signs point toward an uptick in those same employers and employees re-entering the market in 2017 due to natural gas prices being predicted to rise toward the first or second quarter of 2017.If you have any questions regarding what’s going on in the market and what the best game plan is for you, just give me a call or send me an email. I’d be happy to help you in any way I can.