Tuesday, June 25, 2013

Florence Oregon Home Sales Activity UP!


As of this posting,  residential listings are up to 364 (from 318) in the Florence Oregon real estate market with a median asking price is up to $212,000 (was $199,000) and  295 DOM (days on market) down from 369.

In the last 12 months we have sold 328  homes at a median sale price of $159,000 and 292 average CDOM (cumulative days on market).

I the last 6 months we have sold 162 homes at a median sale price of $155,000 (down from $160,000) and 287  average CDOM and 175 median CDOM

In the last 30 days we have sold 39 homes (12 mo. average has been 27) at a median sale price of $ $155,000 (down from $170,000) and 291 average CDOM.  A 30 day snapshot in small market is not a reliable indicator of the future.

All in all, the inventory has increased by 44 listings in the last 3 months.  One year running median list prices are up $13,000. On the other hand, a six month running average of median sales price are down $5,000 while the number of sales is up.
In Summary, inventory is up, asking prices are up, the actual number of sales is up slightly and the 12 month average median SALES prices are up only $3,000. The last 6 months rolling average shows that the actual median SALES price has Dropped $5,000.  Interest rates will go up before the end of the year. NOW is the time to buy as many sellers are tired of postponing their dreams. 
Do NOT let this market opportunity slip by... and do NOT make an offer without a thorough CMA being completed by your agent based on actual sales prices. Too many times CMAs include asking prices which can cause you to pay more than you should pay. Call a local experienced buyer's broker today!