Market Bump Holds for 30 Days but DOM Increases

As of this post, there are 451 active residential listings in the Florence Oregon area with an average asking price of $265,000 and average Days On Market up to 309 from 300.

The average sale price for the 30 days immediately preceding this post is $221,000.

The market time (DOM) increasing is disturbing in as much as this tiny market bump has given some real estate practitioners encouragement to continue with the totally irrational behavior of the past.

Prescribing the old "list at any price" solution to an unsuspecting public, through times of decline, will hopefully end in a justifiable malpractice suit against those without conscience.

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Florence Real Estate Market Activity Holds In Spite...

There are currently 462 residential properties on the market with an average asking price of $257,000 with a rediculous 300 Days On Market due to asking prices being 19.5% over the actual sale prices

In the preceding 30 days to this post, there were 32 sales averaging $207,000. That is a whopping $50,000 difference in asking vs sale price.

The Florence real estate market could be so much stronger for buyers and sellers if local practitioners would discard the "list at any price" mantra.

I have been hoping the majority of my peers develop the courage to start counseling their clients about proper pricing. Unfortuantely, that has not been the case.

Florence Oregon Real Estate Market Trend

With the warm fall weather approaching and the children returning to school, it is normal for Florence real estate activity to increase each year, till late fall.

As of this posting there are 467 residential properties available with an average asking price of $256,000 and average DOM at 293.

During the last 30 days, 31 units have sold at an average sale price of $215,000, which is about double the number of average monthly sales for the last year. There has been a remarkable increase in real estate inquiries and showing

Florence real estate practioners and sellers have been slow in getting the asking price of homes closer to the actual sales price. Pricing is critical to this becoming a trend rather than an temporary bump!