Friday, February 8, 2013

Florence Inventory Down.

As of this posting, we currently have 319 residential listings in the Florence Oregon real estate market with a median asking price of $209,000 and an average of 369 CDOM (cumulative days on market).

In the last 12 months we have sold 307 homes at a median sale price of $158000 and 297 average CDOM.

I the last 6 months we have sold 171 homes at a median sale price of $155,000 and 285 average CDOM and 194 median CDOM

In the last 30 days we have sold 23 homes at a median sale price of $153,000 and 199 CDOM.A 30 day snapshot is not a reliable prediction of the future.

All in all, I am seeing a smaller inventory with a higher asking price and longer market time looking at the last year.  It feels to me like some of the old tired listings that were overpriced are still hanging around while the property that was priced matched to our current reality, sold.

In spite of higher asking prices, do not be afraid to write an offer based on actual sales data.  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.