Saturday, June 25, 2011

Florence OR Real Estate Market Update!

As of this posting, The Florence Area residential real estate market has the largest inventory of homes we have ever had. We have 526 Active residential properties for sale w an average asking/median price is $203000 and 179000 respectively. The average days on market is 277.

During the last 12 months, we have enjoyed 241 sales (20/mo) at a median sale price of $163000 with 265 DOM average.

During the last 6 months, 104 properties (17/mo) were sold at a median sale price of 158000 and 204 DOM

During the last month we have seen a slight bump in activity with 28 sold at a median sale price of $163000. In a small market it is impossible to take a 30 day snap shot, seriuosly.

Florence Oregon is a Buyer's market and many excellent buys are to be had with the aid of a capable local Buyer's broker!

At the end of the day, there is a good likelyhood that the current low interest rates will make up for any potential price drops.