Friday, April 1, 2016

Florence Oregon Housing Market Is Tight On Inventory

As of this posting, inventory is  down to 185 active residential listings since my last post. The Florence Oregon home market has a median asking price of 272000 with 174av/87 median CDOM (cumulative days on market).

In the last 12 months we have sold 480 homes at a median sale price of $190000 and 166 CDOM and 80 median CDOM.
In the last 6 months we have sold 213 homes at a median sale price of $220000 with 148 av /91 median CDOM.

In the last 3 months we have sold 82 homes at a median sale price of $207000 with 136av/87median CDOM.

The last 30 days have netted 33 sales at a median sale price of $217000 with 106 av/ 97 median CDOM although a 30 day snapshot cannot be counted on as a reliable indicator. 

All in all we have a very tight market and limited inventory right now and a modest 8.57% price increase year over year. The last quarter has seen a slow down in the number of sales but hopefully with the spring sun, the pace of sale should pick up.
Foreclosures and distressed sales  are virtually gone.  It appears that any new listings are being taken now at much higher prices than in the past. 

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!