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!