Florence Market Bump?

Today the market is still very slow although there appears to be a small bump in activity. Out 445 residential units for sale, there are now 12 sold for the 30 day period prior to this post. The average sale price of those 12 sales was$193,000. After a several month stretch of 5-6 residential sales/month for the entire area, 12 sales looks good. The average list price for the 445 properties that are currently active is $287,000. That tells me there is a glut of inventory (over 197 units) in the above $300k range of which, only 17 sold in the last 6 months. Sellers and their real estate practitioners still need to examine their pricing strategy or prepare for a long wait.