Tuesday, February 28, 2012

Florence Market Still Tenative

We currently have 388 residential listings in the Florence Oregon real estate market with a median asking price of $179,000 and an average of 357 DOM (days on market)and 274 median days on market.

In the last 12 months we have sold 254 homes at a median sale price of $159,000 and 232 average/140 median DOM.

In the last 6 months we have sold 136 homes at a median sale price of $155,000 and 231 average/151 median DOM

The last 30 days we have sold 19 homes at a median sale price of $156,000. As usual, a 30 day snapshot in a small market can vary widely.

The above data tells me that there is slight bump in activity (over the course of the last year) but median sales prices are trending lower. Because the Florence Oregon coast market historically lags behind other areas of the country, it is important to continue to use realistic pricing if you are serious about selling.

Interest rates continue to hover near an all time historic low. Florence Oregon real estate offers many opportunitie to purchase a home far below cost, if you are working with a knowledgeable Buyer's Broker!