Tuesday, August 4, 2009

Florence vs Eugene Oregon Real Estate Prices.

For the 30 days preceding this post, there are 471 residential properties for sale in the Florence area with an average asking price of $252,000 and a average market time of 279 days. Of those listings, 12 sold at average sales price of $185,000. The tunover in Florence last month was 2.5%.

In contrast the Eugene-Springfield metro area has 1736 residential properties for sale with an average asking price of $257,000 and 149 days on market. Of those listings, 267 sold at an average sales price of $243,000 and average market time of 78 DOM. The turnover in the Metro area was 15.4%.

Why are Eugene-Springfield agents selling over 6 times more property in less than half the time?

It is my personal belief that Metro list prices within $14,000 of the sold price, compared to Florence practioners asking $67,000 more than the sold price, is the answer.

The good news is that there are many excellent buys to be had in the Florence market, IF you are working with a knowledgable agent. In fact actual Florence data suggests homes on the coast are selling at historical lows!


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