For the 30 days preceding this post, there are 471 residential properties for sale in the Florence area with an average asking price of $252,000 and a average market time of 279 days. Of those listings, 12 sold at average sales price of $185,000. The tunover in Florence last month was 2.5%.

In contrast the Eugene-Springfield metro area has 1736 residential properties for sale with an average asking price of $257,000 and 149 days on market. Of those listings, 267 sold at an average sales price of $243,000 and average market time of 78 DOM. The turnover in the Metro area was 15.4%.

Why are Eugene-Springfield agents selling over 6 times more property in less than half the time?

It is my personal belief that Metro list prices within $14,000 of the sold price, compared to Florence practioners asking $67,000 more than the sold price, is the answer.

The good news is that there are many excellent buys to be had in the Florence market, IF you are working with a knowledgable agent. In fact actual Florence data suggests homes on the coast are selling at historical lows!

As of this post there are 479 residential listings with an average asking price of $248,000 and average DOM of 287. In the preceding 30 days there have been 10 sales with an average sales price of $233,000.

The problem with interpreting statisitics with such a limited number of sales is that if you remove the one $550,000 sale the average sales price drops to $158,000.

In any event, this is a great time to have money to buy in the Florence market!

Currently we have 485 residential properties with an average list or asking price of $252,000 and 12 sales averaging $208,000, in the 30 days preceeding this post.

The current DOM (days on market) is 285 for all residential inventory. Of the 12 homes that sold, the DOM was 180 because their average asking price was substantially lower than the average list price for the entire residential inventory.

During the 30 days preceding this posting, 17 residential sales took place with an average sale price of $191,000. Currently we have 473 residential listings with and average asking price of $258,000 and an average time on market of 290 days.

It is clear that other Oregon communities are pricing their inventory much closer to the actual sales price with more than 3 xs the actual sales percentage results as compared to Florence area real estate practitioners. The “list at any price mentality” is a real problem in Florence and is causing true financial damage to Florence homeowners in a decling market.

The good news is that there are a handfull of real estate of practioners that understand this market and can quickly acertain what something is really worth, and therefore save you time and money.

There still appears to be a continued trend of large price desparities (list price vs actual sale price) with “list at any price” brokers in the Florence Area.

The 30 days preceeding this posting, has netted 13 sales, with average sale price of $202,000 and 220 DOM (days on market) for those sales.

The current active residential housing inventory is 487 homes with an average list price is $271,000 and average DOM of 304 Days.

The good news is that there are still a few practitioners that are actually presenting the comparable sales to sellers and are getting the job done.

No matter how you slice the cake, everyone is harmed by overpricing. Buyers and Sellers need to be given the black and white data so they can be afforded the opportunity to decide what is right for them.

The 30 days previous to this post has netted a total of 10 solds out 482 active residential lisitngs with an verage asking price of $273,000. The sold properties average sold price was $187,000.

Interest rates have moved up close to a full percentage point in the last 2 weeks to around 5.75% apr for a 30 year fixed rate mortgage.

I believe that many American homebuyers are at a crossroads. They either believe we are at the bottom of the “tub” and there will never be lower prices or interest rates than today or they beleive the bottom is about to drop out of the “tub” on a long term and global economic basis.

I am personally convinced that inflation caused by the government’s ravenous appetite for debt, forces interest rates to only go up from here!

As of this posting, Florence inventory has risen to 473 residential properties with an average asking price of $278000 and an average DOM of 300.

In the preceeeding 30 days we are down to 10 closed sale and an average sale price of $169,000.

Note: In a small market like Florence, average sales price can vary greatly. All it takes is for a lakefront or oceanfront home to sell at a million, and the 10 sales average is drastically changed.

For example, a 2 month snapshot of average sales prices indicated $194,000. A 3 month look would reveal $207,000 and a 6 month search would turn up $217,000 average sale price).

Of the residential properties that sold in the last 30 days, the average DOM was 152. They sold because a few real estate practitioners rose above the “list at any price” brainwashing and actually got the asking price close enough to matter!

Evidently the idea of the federal government monetizing the 1st time home buyer tax credit for a down payment on a FHA loan is in the works. See http://bit.ly/U276T for more infoormation.

This may very well be the time to buy, especially if you are obtaining a mortgage.

The bad news is that Interest rates are creeping up from an all time low in the 4.75% range to close to 5% due to unheard of Government borrowing levels.

The good news is this is Buyer’s market! Right now inventory is bumping up and prices appear to be still dropping slightly. According to the RMLS, lock box activity is up over 13% in the last 2 weeks.

Give me a call today for a market overview at 541-999-0511!

Right now the Florence inventory of residential homes has increased to 464 homes with an avergae list price of $279,ooo and averge DOM of 301. Last month, 13 actual sales averaged $200,000 with an average DOM of 120 days.

The Eugene Sringfield area has 1415 residential properties for sale with average list of 307,000 wth average DOM being 135. The last 30 days produced 171 solds with an average sale price is $242,000 with an average of 93 DOM.

My point is simple. Many Florence real estate practioners seem to lack the courage or professionalsim to properly advise their clients as to what the market is actually doing. Compare the paltry 2.8% of market tunrover/month in Florence to Eugene’s 9.5% or just look at the average Days on Market. The market will respond to value.