Friday, January 16, 2015

Winter Is The Best Time to Buy A Home in Florence!

As of this posting,  inventory has decreased to 209 homes from 275 active residential listings in October. The Florence Oregon home market has a median asking price of $210000 and  with 305 av/199 median CDOM (cumaltive days on market).

In the last 12 months we have sold 405 homes at a median sale price of $169000 and 189 CDOM and 95 median CDOM.

In the last 6 months we have sold 214 homes at a median sale price of $175000  with 168 av /94 median CDOM.
In the last 3 months we have sold 81 homes at a median sale price of $175,000 with 158av/94 median CDOM. 

The last 30 days have netted 18 sales at a median sale price of $121000 with 258 av/ 58 median CDOM.  In a small market, a 30 day snapshot can not be counted on as a reliable indicator. 

Even though sales are slower this time of year, it was more active last summer than the past several years, due in part to home seller/agent pricing that is closer to reality which has resulted in shorter market times and more sales. I am hoping that selers ad agents do not develop a bad case of amnesia and start overpricing again. 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 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 localexperienced buyer's broker today!