Florence OR Real Estate Sales Up As Prices Decline

As of this post, the Florence Oregon the residential inventory has increased to 434 properties from just below 400 a few months ago. The current average asking price is $248,000 ($215,000 median) w average days on market of 350 (258 DOM median.

Historically I have posted the sales activity in the last 30 days, but am changing to a longer period of time to give an a more accurate picture of what is really happening.

For instance the last 30 days netted 20 sales at an average sales price of $219,000 ($196,000 median). The problem with doing a 30 day snapshot, is that there are wild fluctuations caused by even one rogue sale, of say $700k.

A more accurate picture is Year to Date. In this case we have sold 55 homes or about 18 homes/mo at an average sale price of $199,000 and a median sale price of $150,000.

One obscure, but encouraging statistic is that that the median sold cumulative days on market dropped to 113 days and sold within 10% of the median asking price. This tells me that some practitioners are taking time to do a CMA and are being credible enough to convince sellers that they need to price their properties correctly.

The Florence OR real estate market prices are still in delcine but there are great opportunities out their for anyone working with a knowledgeable Florence Oregon broker or Buyer’s broker!