Friday, June 27, 2014

Florence Oregon Real Estate Market Update for June

As of this posting,  inventory has increased to 318 active residential listings in the Florence Oregon real estate market with a median asking price of $224000 and  with 257 av/118 median DOM (days on market).

In the last 12 months we have sold 385 homes at a median sale price of $168000 and 233 CDOM/110 median DOM.
In the last 6 months we have sold 185 homes at a median sale price of $167000  with 224 av /110 median DOM.
In the last 3 months we have sold 100 homes at a median sale price of $162,000 with 213 av/110 median DOM.
The last 30 days have netted 40 sales at a median sale price of $172000 with 216 av/ 76 median DOM. The 30 day spike came from 7 sales over $300,000 which is unusual. In a small market, 30 day snapshots can not be counted on as a reliable indicator.
Many sellers and their Agents have become more optimistic  and indiscriminate in their pricing during our sunny season. Even though there are many properties grossly overpriced, there are still excellent opportunities for buying if you are properly represented with an experienced Buyer's Broker 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!