FLORENCE OR 05/2017 HOUSING MARKET UPDATE

As of this posting, inventory is at 175 active residential listings. The Florence Oregon home market has a median asking price of $298,000 with 313average/ 74 median cumulative days on market.

In the last 12 months we have sold 460 homes at a median sale price of $211000 and 61 median CDOM (cumulative days on market).

In the last 6 months we have sold 195 homes at a median sale price of $210000 with 75 median CDOM.

In the last 3 months we have sold 95 homes at a median sale price of $210000 with 77 median CDOM.

The last 30 days have netted 27 sales at a median sale price of $256000 with 84 median CDOM although a 30 day snapshot cannot be counted on as a reliable indicator. 

Our inventory cannot keep up with demand. As the asking price goes up the numbers of closed sales goes down and increases the days on market, in part due to the fact that the properties that are being sold are many older properties that were overpriced and are now getting closer to reality.

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 local agent. Call a local experienced real estate broker today!