Friday, September 27, 2013


As of this posting,  residential listings are up to 365 in the Florence Oregon real estate market with a median asking price is up to $225,000 (from $199k or 13% from 12 months ago) and  291 CDOM (cumulative days on market).

In the last 12 months we have sold 353 (up from 304 last year) homes at a median sale price of $160,000 (up $5k from 1 year ago) and 256 CDOM (cumulative days on market).

I the last 6 months we have sold 237 homes at a median sale price of $161,500 (up from $159,000) and 237  average CDOM.

In the last 30 days we have sold 36 homes  at a median sale price of $ $168,000 and 185 average CDOM.  A 30 day snapshot in small market is not a reliable indicator of the future.
In Summary, inventory is up, asking prices are up 13% but actual sale prices are up only 3%.  I fear there are those that have developed a bad case of amnesia when it comes to remembering the affects of overpricing. Interest rates have went up almost a full point in the last 45 days.

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!