Friday, March 18, 2011

Florence Oregon Real Estate Market Slowdown?

As of this posting, we have 419 residential units in the Florence, OR area for sale at a median asking price of $208,000 and a cumulative days on market of 382 DOM.

During the last month we have had 9 closed residential sales. During the last 6 months we have netted 109 sales with a median sale price of $165,000 and 284 average days on market. During the last 12 months we have had 241 residential sales at a median sale price of $170,000 and DOM of 272.

In short, the number s of sales/month appears to be slowing and the median sale price appears to be dropping over a 6 month time frame while the DOM appears to be getting longer.

The good news is that there are many excellent buys in the Florence Oregon market, if you are working with a knowleadgable buyer's agent.

For Sellers, The most important thing to do, is get hooked up with a good local agent who is able to perform a realisitc market analysis. Be careful of slick out of area marketing by those who know little of the local market. The choice of agent representing you and the pricing of your property is critical to a timely sale.

Friday, March 4, 2011

Florence Oregon Home Price Trend

As of this posting, the Florence Oregon home inventory is up to 412 active residential listings at a median asking price of $205,000 with an average days on market DOM of 388.

The last 6 months have netted 115 residential sales at a median sold price of $160,000.
The last 12 months have netted 249 residential sales with a median sold price of $170,000.

In summary, the median residential sale price appears to be edging slightly lower, while asking prices and DOM appear to be edging higher.

It is my guess that many sellers who had pulled their over priced property off the market for the winter are now coming back on the market, which will tend to cause the kind of numbers you see above.

Unfortunately, some of my peers will take up the same old dance, incredibly expecting a different result, while others will have learned that over pricing properties are a waste of every one's time.

If you are looking for a conservative broker to represent you buying needs, give us a call or email today!