Sales rise, as prices fall!

I am encouraged to see the last 30 days, produced 16 residential sales for the Florence area! That is up from a several month run of 5 and 6 sales per month and is largely due to huge price reductions.

The average sale price was $235,000. Of the 16 homes sold, the average last asking price prior to sale averaged $246,000. Once again this tells me that the sellers and real estate brokers that finally got their asking price right, sold there property!

It may be of interst to know that, of the 450 residential properties for sale in today, the average asking price is still $282,000.