Saturday, June 23, 2012

Now is The Time to Buy a Florence OR Home!

As of this posting, we currently have 425 residential listings in the FLorence Oregon real estate market with a median asking price of $169,000 and an average of
330  CDOM (cumaltive days on market).

In the last 12 months we have sold 280 homes at a median sale price of $159,000 and 262 average/161 medain CDOM.

I the last 6 months we have sold 141 homes at a median sale price of $156,000 and 300 average/190 median CDOM

In the last 30 days we have sold 28 homes at a median sale price of $135,000. A 30 day snapshot in a small market can vary widely and should not be relied on to predict the future!

Barring some other cataclysmic or global event, it feels to me like we are at the bottom.  Now is an excellent time to purchase with record low prices and interest rates well under 4% for 30 year fixed rate mortgages!

All in all, inventory is up and asking prices are down roughly 5%.The secret to success is to work with a local experienced buyer's broker.

I have watched Florence OR home sales for over 30 years and the same leading indicators are in play. What I mean is that historically, when Southern California and other major markets like Seattle and Portland turn around, it is just a materr of 6-12 months before the Florencereal estate market turns.

Please feel free to call 541-997-5926 or email me at if yu have nay questions!