Thursday, October 1, 2015

Leaves Are Falling Prices Are Not!

As of this posting, inventory is  stable at 228 active residential listings since my last post. The Florence Oregon home market has a median asking price of 285000 with 212av/115 median CDOM (cumulative days on market).

In the last 12 months we have sold 445 homes at a median sale price of $175000 and 179 CDOM and 81 median CDOM.

In the last 6 months we have sold 265 homes at a median sale price of $176000 with 18 av /68 median CDOM.

In the last 3 months we have sold 149 homes at a median sale price of $151,000 with 185av/119 median CDOM.

The last 30 days have netted 29 sales at a median sale price of $189500 with 162 av/ 63 median CDOM although a 30 day snapshot cannot be counted on as a reliable indicator.

All in all we have had a dramatic increase in the numbers of sales and a modest increase in price. It has been my experience over the last 3 decades in this market that Florence is the Last to go into a recession but the last to come out. We started showing signs in recovery last year but this year we appear to be in a much stronger market. 

At this time the inventory seems to be be picked over with most of the foreclosures and distressed sales being mopped up last year and this spring.  It appears that some new listings are being taken now at 2007 prices and the sold market prices has only come up roughly 5% off bottom.

There is only one way to make sure you are getting the best value whether buying or selling. Be sure work with a local, knowledgeable Broker and make sure your offer or list price based on a thorough CMA completed by your agent. Call a local experienced real estate broker today!