Wednesday, November 28, 2018

Nov-Dec 2018 Florence Real Estate Market Update

As of this posting, inventory is down to 110 active residential listings. The Florence Oregon home market has a median asking price of $347,000 with 62 median cumulative days on market.

In the last 12 months we have sold 530 homes at a median sale price of $249,000 and 45 median CDOM (cumulative days on market).

In the last 6 months we have sold 302 homes at a median sale price of $263,000 with 42 median CDOM.

In the last 3 months we have sold 163 homes at a median sale price of $270,000 with 45 median CDOM.

The last 30 days have netted 47 sales at a median sale price of $260,000 with 39 median CDOM although a 30-day snapshot is not a reliable indicator.

Compared with inventory a few years ago of between 400-500 residential listings, 110 listings today,  a very low inventory indicating high demand and very tight supply. Median sale prices seem to have edged up in the 15-20k price range.

It is my experience that sales slow as the winter rains set in, which historically creates better buying opportunities.

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!