HIDDEN HOME VALUES IN FLORENCE OREGON

As of this posting,  we are down to 288 active residential listings in the Florence Oregon real estate market with a median asking price of $217000 and  289 DOM (days on market).

In the last 12 months we have sold 357 (up from 304 last year) homes at a median sale price of $164,500 and 264 CDOM (cumulative days on market).

I the last 6 months we have sold 212 homes at a median sale price of $166,000  and 251  average CDOM. Do you notice the desparity in asking price versus sale?

Do you notice the desparity between asking price versus sales price?

Inventory is decling, and asking prices are up. Some real estate practitioners seemed to have developed a short term memory problem manifested by overpricing. It is as if the last 6 years never happened. Unfortunately, the seller and practitioner will pay the price for this reckless behavior, by forgoing a reasonable sale price in a reasonable time on market (less than 6 months).

The good news is that the winter is the best time of year to purchase when sellers and agents are hungrier for a sale.  Many sellers have been waiting for years to sell. Even though there are many properties grossly overpriced, there are still excellent opportunities for buying if you are properly represented with an experienceedbroker that understands the true worth of the property.

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!