Friday, October 24, 2014

Florence Home Prices and Sales Up as Rain Approaches

As of this posting,  inventory has decreased to 275 homes from 318 active residential listings in June. The Florence Oregon home market has a median asking price of $213000 and  with 272 av/137 median CDOM (cumaltive days on market).

In the last 12 months we have sold 419 homes at a median sale price of $173000 and 220 CDOM and 110 median CDOM.

In the last 6 months we have sold 236 homes at a median sale price of $176000  with 192 av /90 median CDOM.

In the last 3 months we have sold 126 homes at a median sale price of $183,000 with 167 av/92 median CDOM.
The last 30 days have netted 40 sales at a median sale price of $195000 with 133 av/ 62 median CDOM.  In a small market, a 30 day snapshot can not be counted on as a reliable indicator.
Even though sales will slow this time of year, it has been a more active summer than the past several years. I think this is due in part to home seller/agent pricing that is closer to reality which has resulted in shorter market times and more sales. It also has much to do with continued historic low mortgage rates currently under 4% for a 30 year fixed rate.
In my view the late fall and winter is the best time to buy.
When making an offer to purchase work with a knowledgeable Broker and do NOT make an offer without a thorough CMA being completed by your agent based on actual sales prices.  Call a local experienced buyer's broker today!