Monday, December 3, 2012

Florence OR Real Estate Market Update

As of this posting, we currently have 356 residential listings in the Florence Oregon real estate market with a median asking price of $199,000 and an average of 364 CDOM (cumulative days on market).

In the last 12 months we have sold 304 homes at a median sale price of $155,500 and 294 average CDOM and 179 median CDOM.

I the last 6 months we have sold 168 homes at a median sale price of $159,000 and 285 average CDOM and 194 median CDOM

In the last 30 days we have sold 19 homes at a median sale price of $145,000 and 185 CDOM. A 30 day snapshot is not a reliable prediction of the future.

At the end of the day, the 12 and 6 month numbers above show a small general improvement in prices and days on market.

The total drop of  inventory of 89 homes over the last 6 months is good but many sellers simply give up this time of year and will list again in the spring.  Also, let's hope that propping up housing and the economy by printing money does not represent "something for nothing", that we all regret.
I still believe that those that buy a home now will not regret it a few years from now. NOW is the time to buy as the winter season is here and many sellers do not wish to wait till spring. 
The secret to success is to work with a local experienced buyer's broker.