Wednesday, December 27, 2017

Florence Year End Market Update 12/27/17

As of this posting, inventory is at 162 active residential listings. The Florence Oregon home market has a median asking price of $300,000 with 65 median cumulative days on market.

In the last 12 months we have sold 494 homes at a median sale price of $225,000 and 61 median CDOM (cumulative days on market).

In the last 6 months we have sold 295 homes at a median sale price of $225,000 with 55 median CDOM.

In the last 3 months we have sold 155 homes at a median sale price of $234,500 with 55 median CDOM.

The last 30 days have netted 39 sales at a median sale price of $227,000 with 42 median CDOM although a 30 day snapshot cannot be counted on as a reliable indicator especially during the Holidays.

The Florence home inventory is very tight and is not keeping  up with current demand. We are at a point where younger families are being priced out of the market due to lower than average incomes on the Oregon Coast and retirees moving in from other areas like California.

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!



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