As of this posting, the market is basically unchanged since the last posting witth the exception of there being 457 residential properties now available.

The sunshine is out and there are plenty of people in town for the 102nd annual Rhododendron festival this weekend! Each year the town’s population swells from 8500 to over 50,000 for this miniture 3 Mardi- Gras in the streets.

As of this posting we have had 11 residential sales in the Florence area in the last 30 days. The average sale price was $205,000 with an av list price of those 11 sales being $218,000 and av DOM (days on market) of 174.

On the other side of the coin we have 450 residential properties listed at an average “asking” price of $280,000 and an average DOM of 300.

Even though we have seen a substantial bump in showing activity, one fact and reality remains. If your property is priced correctly, it will sell. The smoke and mirrors market created by “list at any price” real estate companies is over!

Currently we have 456 residential properties for sale in the Florence Area with 13 sales in the 30 day period preceeding this post. The average asking price today is $278,000 with the average sale price of $218,000.

As a side note, I have had more property inquiries and showings in the last month than the I have had in the last 4 months. There are several incredible values in the florence real estate market today and I am beginning to think it is time to make your best buys now before the market turns any further. Take a look at the Florence riverfront short sale I have listed at $299,000. This home was purchased for well over $400,000.

Or take a look at the Florence Ocean View home with acreage at $599,000 just reduced $100,000!

It may very well be the best time in history to jump in the market now with long term mortgage rates below 5%!

This last 2 weeks have shown a fair amount showing activity and a few written offers on properties that are priced fairly close to market. Currently there are about 450 residential properties on the market with an additional 250 lots and roughly 35 commercial properties. The last 30 days preceeding this post showed 15 residential sales for the entire area with an average sales price of $233,000. With interest rates still dipping down into the 4.75 range on 30 year fixed we should start seeing more sales. The last 3 properties that I have sold, were incredible values!

Florence home showing activity has been up in the last 2 weeks but sales are still flat as compared to last week.

As of today the florence area home inventory has dropped slightly to 439 homes with an average asking or list price of $286,000. In the last 30 days we have had 16 sales for all local real esate offices with an average sale price of $234,000.

Give me a call or email if you have any questions!
dale@florencere.com
541-997-5926

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.

Today the market is still very slow although there appears to be a small bump in activity. Out 445 residential units for sale, there are now 12 sold for the 30 day period prior to this post. The average sale price of those 12 sales was$193,000. After a several month stretch of 5-6 residential sales/month for the entire area, 12 sales looks good. The average list price for the 445 properties that are currently active is $287,000. That tells me there is a glut of inventory (over 197 units) in the above $300k range of which, only 17 sold in the last 6 months. Sellers and their real estate practitioners still need to examine their pricing strategy or prepare for a long wait.

As of this posting, we have had 9 residential sales for the past 30 day period, up from 5 since the last post perviously reported. The avereage list price for all 445 active residential housing units is $288,000. The current average sale price for the last 30 days has been $162,000. Those nine properties were priced within 10% of the actual sales price. The current average sale price over a 6 month period is $222,000 covering 89 sales. The moral of this story is that property sells when it is priced within 10% of the actual market value. The rest of the listings will just sit costing the owner time and money.

In the last 30 days it appears that more showings are taking place but the actual numbers of residential sales closed for the last 30 days, is down to 5. There are currently 15 residential sales pending in the last 30 days, but, is anyone’s guess as to how many of those pending will actually close escrow. The properties closing are selling for prices that appear to be excellent values. I currently have a Florence lake front home, that is one of the best values seen on Woahink lake in years. My office is currently offering several well priced unique properties.

Florence has many excellent real estate values that are often lost in a large, over priced inventory. Currently we have 438 housing units for sale in the Florence area of which 62 are condos. While the average list price for a single family home today is $328,ooo, the average sale price during the last 6 months is $218,000. Unfortunately the “list at any price” broker creates the illusion of high prices and confuses buyers into thinking there are no good values today. The good news is that a good buyer’s broker can help you find your best hidden values today. Often, I know of incredible bargains before they ever hit the open market. While only 5% of our market requires 3rd party approval today, there are at least an equal percentage of troubled properties not reported on the MLS.

I can help you find those properties. This link is to a gorgeous Florence riverfront home that the owner paid over $100,000 more than it is for sale today. Feel free to call me anytime direct @541-999-0511.