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.


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