Buying Opportunities Abound

As of this post there are 479 residential listings with an average asking price of $248,000 and average DOM of 287. In the preceding 30 days there have been 10 sales with an average sales price of $233,000.

The problem with interpreting statisitics with such a limited number of sales is that if you remove the one $550,000 sale the average sales price drops to $158,000.

In any event, this is a great time to have money to buy in the Florence market!

Florence Real Estate List Prices Dropping!

Currently we have 485 residential properties with an average list or asking price of $252,000 and 12 sales averaging $208,000, in the 30 days preceeding this post.

The current DOM (days on market) is 285 for all residential inventory. Of the 12 homes that sold, the DOM was 180 because their average asking price was substantially lower than the average list price for the entire residential inventory.

Florence Asking Prices In Downward Trend

During the 30 days preceding this posting, 17 residential sales took place with an average sale price of $191,000. Currently we have 473 residential listings with and average asking price of $258,000 and an average time on market of 290 days.

It is clear that other Oregon communities are pricing their inventory much closer to the actual sales price with more than 3 xs the actual sales percentage results as compared to Florence area real estate practitioners. The "list at any price mentality" is a real problem in Florence and is causing true financial damage to Florence homeowners in a decling market.

The good news is that there are a handfull of real estate of practioners that understand this market and can quickly acertain what something is really worth, and therefore save you time and money.