Florence Real Estate Market Holds

As of this post we have 436 active residential properties with an average asking price of $263,000 and an average days on market increasing to 325. The 30 days preceding this post have netted a total of 35 residential sales.

The huge DOM is in large part because the average sale price is hovering near the $200,000 mark and Florence real estate practitioners are reluctant to change the old list at any price philosophy.

I am very happy to see this level of activity holding but I am utterly disgusted with the lack of professionalism by my peers, when it comes to pricing. Overpricing property by over 20 % is pathetic at best!

Florence Real Estate Update

Currently we have 442 active residential listings with an average listing price of $265,000 and 314 Average Days On Market. During the 30 days preceeding this post, we have had 31 sales with an average sale price of $219,000. If you take out the one rare Woahink Lakefront sale at $900,000 the average sale price would drop to $196,000.

I am happy that the average sales per month is holding up in the 30 range for 2-3 months now. This is considerably better than the 10-15 sales per month we were experiencing for the last year!

Market Bump Waning

As of this post there are 447 residential properties on the market for an average asking price of $266,000 with an average DOM of 312. During the 30 days preceeding this post there have been 27 sales at an average sale price of $209,000.

This market is still suffering from apathetic real estate practitioners and sellers that are unwilling to price their property within 10% of actual sales price. For those that do get the pricing right, the reward is a completed sale in a fairly short period of time.

Best Real Estate Values In Florence

I have recently taken on a spectacular Ocean View home just North of Florence and is in the exclusive gated community of South View. For unparralled views, sunsets and sun exposure, take a look at this Oregon Coast Ocean View Home. For more information and incredible photos, visit Southview Scenes which also has a great page on Oregon Coast sunsets.

Another great value is this Florence Oregon luxury home, protected from the wind and fog in Munsel Creek Estates.

If you are looking for the best lake front value in Florence, check out this completely updated Woahink Lake front home. It is lake level and has over 170 feet wind protected, South facing, sandy shoreline.

For those looking for a Florence beach area home, check out this impeccable home that has an incredible back yard backing up to 40 acres of Lane County owned land. This home is next to the North Jetty and Heceta Beach area.

Not So Fast!

In the last 60 days we have seen our Florence market bump from 12-15 sales per month to around 30. Some Agents are failing to advise their clients as to what current market realities are, and that has landed Florence and the entire nation in a fix. All of a sudden there is a new confidence (that generally goes with ignorance) in the Florence real estate market.

As of this posting we have 449 residential properties on the market with an average asking price of $266,000 and an average sale price for the preceeding 30 days of $206,000. That is a $60,000 difference between asking price and the actual sold price.

The bad news is that the average Florence real estate practioner is taking listings roughly 29% over the actual sales price or 19% more than the industry accepted norm of no more than 10% higher than the market.

The good news is that there are a few agents that have the fortitude to do what is best for the client by letting them know what the realities of the current market are!