Friday, November 27, 2009

High List Price Equals High DOM

The average listing price is creeping up to $261,000 for the current residential inventory with average days on market now at 354 for all 409 residential listings.

In the preceding 30 days to this post we have had 23 sales at an average sale price of $187,000. Of the properties that sold, the last list price was at $197,000.

If Florence were the only market in Oregon that was experiencing this kinds of statistical data, the local practitioners might be able to defend the gross overpricing and days on market.

In contrast Eugene is experiencing reasonable sale activity and only 77+/- days on market because those Eugen Brokers are listing homes in their area within 10% of the actual sale price.

If you are the unfortunate buyer stumbling in or calling in to the average floor duty real estate practitioner, you may very well find yourself upside down in a transaction.

Before comitting to a broker, make sure that you have checked out their references and they have the necessary skills and backgorund to properly represent you!


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