Thursday, September 24, 2009

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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