As of the end of October, inventory in the Florence area has decreased to 275 homes from the 318 active residential listings there were in June. There is a median asking price of $213,000 in the Florence Oregon home market with 272 av/137 median cumulative days on market or CDOM.
Over the last year, 419 homes have been sold t a median sale price of $173,000 and 220 CDOM and 110 median CDOM.
236 homes at a median sale price of $176,000 have been sold over the last six months with 192 av/90 median CDOM.
The last three months have seen sales of 126 homes at a median sale price of $183,000 with 167 av/92 median CDOM.
The last month has accumulated 40 sales at a median price of about $195,000 with 133 av/62 median CDOM. It should be noted that 30 day snapshots of the market can NOT be counted as reliable indicators of the market when the market is small.
It’s typical for sales to be slow this time of year, however, we’ve had a more active summer than the summers of the past handful of years. This may be partly due to home seller and home agent pricing that is more realistic which results in shorter market times and increased sales. It probably also has a lot to do with historically low mortgage rates. Rates are currently just under 4% for a 30 year fixed rate.
Fall and winter are certainly not a bad time to buy. If you’re thinking of making an offer or simply just want to shop around, contact us today.
Image by Josh Ward Flickr
For more on the area of Florence, Oregon please see the following: