Thursday, January 6, 2011

New Year Starts On A Positive Note!

As of this posting we are down to 400 active residential listings. The median asking price for a Florence area residential property is $220,000 with an average cumultive DOM of 367.

The last 6 months have netted 132 sales in the Florence OR area, with a median sale price of $175,000. The last 12 months have netted 258 residential sales at a median price of $162,000.

The above numbers indicate a slightly higher median sale price during the last 6 months of the year.

The bad news is that the difference between a median asking price of $220,000 and a median sales price of $175,000 in the last 6 months, still indicates and unwillingness by many local real estate practioners to realize we are living in a very different market.

I still witness 4 year old pricing tactics by some (list at any price) that will net longer days on market, a disapointed seller and ultimately a much lower sale price which harms the seller and the overall economy.

If you are looking for an excellent buy on the Oregon Coast, now is the time to buy, especially during the winter months. Prices have never been lower and interest rates are near the lowest they have been in my 30 years of local real estate experience!

Whether you are looking for a Florence home to retire to, a weekender, investment property or land, choose an experienced Buyer's Broker that gives you the excellent service you deserve.