Friday, June 23, 2017

Florence Real Estate Market Update 6/23/17

As of this posting, inventory is at 212 active residential listings. The Florence Oregon home market has a median asking price of $313,000 with 74 median cumulative days on market.

In the last 12 months we have sold 459  homes at a median sale price of $220,000 and 54 median CDOM (cumulative days on market).
In the last 6 months we have sold 191 homes at a median sale price of $230000 with 75 median CDOM.

In the last 3 months we have sold 102 homes at a median sale price of $247,000 with 57 median CDOM.

The last 30 days have netted 38 sales at a median sale price of $240,000 with 47 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