Thursday, May 21, 2009

Tale of Two Cities

Right now the Florence inventory of residential homes has increased to 464 homes with an avergae list price of $279,ooo and averge DOM of 301. Last month, 13 actual sales averaged $200,000 with an average DOM of 120 days.

The Eugene Sringfield area has 1415 residential properties for sale with average list of 307,000 wth average DOM being 135. The last 30 days produced 171 solds with an average sale price is $242,000 with an average of 93 DOM.

My point is simple. Many Florence real estate practioners seem to lack the courage or professionalsim to properly advise their clients as to what the market is actually doing. Compare the paltry 2.8% of market tunrover/month in Florence to Eugene's 9.5% or just look at the average Days on Market. The market will respond to value.


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