Florence Oregon Real Estate Update Blog

Latest Florence Market Update!

2012-01-25T15:49:00.000-08:00

As of this posting we have 395 residential listings in the Florence Oregon real estate market with a median asking price of $179,000 and an average of 357 DOM (days on market).

In the last 12 months we have sold 242 homes at a median sale price of $160,000 and 221DOM.

In the last 6 months we have sold 137 homes at a median sale price of $160,000 and 231 DOM.

The last 30 days we have sold 17 homes at a median sale price of $115,000. As usual a 30 day snapshot in a small market can vary widely.

The above data tells me that there is still a lack of consumer confidence reflected in lower median sales prices and longer DOM. Agressive pricing by sellers and their agents is still the key to a timely sale.

Interest rates continue to fall to an all time historic low. Florence Oregon real estate offers a once in a lifetime opportunity to purchase a home far below cost, if you are working with a knowledgeable Buyer's Broker!

Florence OR Real Estate Sales Falling

2011-11-29T15:03:00.000-08:00

As of this posting we have 442 residential listings in the Florence Oregon real estate market with a median asking price of $180,000 and an average of 334 DOM (days on market).

In the last 12 months we have sold 240 homes at a median sale price of $163,000 and 216 DOM.

In the last 6 months we have sold 142 homes at a median sale price of $168,000 and 207 DOM.

The last 30 days we have sold 17 homes at a median sale price of $125,000. As usual a 30 day snapshot in a small market can vary widely. Last month the median sale price was $155000.

The above data tells me that sellers and there agents enjoyed a small run in activity that has now fallen flat with lower recent median sales prices and far fewer units being sold. Agressive pricing by sellers and their agents is a must if a seller wants to sell in this economy.

With interest rates at an all time historic low, this is a great time to purchase a home if you are working with a knowledgeable Buyer's Broker!

Home Price Declines Are Slowing

2011-10-06T14:48:00.000-07:00

As of this posting we have 479 residential listings in the Florence Oregon real estate market with a median asking price of $177,000 and an average of 300 DOM (days on market).

In the last 12 months we have sold 241 homes at a median sale price of $163,000 and 221 DOM.

In the last 6 months we have sold 134 homes at a median sale price of $159,000 and 190 DOM.

The last 30 days we have sold 27 homes at a median sale price of $155,000. As usual a 30 day snapshot in a small market can vary widely. Last month that number was $170,000.

With interest rates at an all time historic low, this is a great time to purchase a home if you are working with a knowledgeable Buyer's Broker!

Florence OR Real Estate Activity Up!

2011-09-02T11:51:00.000-07:00

As of this posting, the Florence Oregon MLS Shows that we have 513 homes on the market at a median asking price of $170000 and 291 DOM average.

During the last 12 months, our Board has closed 239 sales at a median sale price of $163000 and 241 DOM.

During the last 6 months our Board closed 123 properties at a median sale price of $164700.

During the last 30 days, sales have sloed to 19 sales/mo but the median sale price has crept up to $170,000. A 30 day snapshot in this tiny market, should not be taken to seriously.

The last 30 days showing activity in the Florence OR area is up but Statewide lock box activity is down 3.4%.

If you are looking for a Buyer's Broker with over 30 yrs local experience in the Florence Oregon market, give me a call today at 541-999-0511!

Florence OR Home Prices Creep Lower

2011-07-20T11:42:00.001-07:00

As of this post the Florence Oregon RMLS shows that we have a 532 home inventory at an avereage and median asking price of $203000 and $163000 respectively, with 281 cumulative days on market.

During the last 12 months, we have closed 231 sales at a median sale price of $163000 and 255 CDOM average.

During the last 6 months, 104 properties sold at a median sale price of $161,000 and 212 CDOM.

During the last 30 days we have sold 20 homes with a median sale price of $156,000 w 214 CDOM. A 30 day snapshot is of little value in a small market.

Florence Oregon offers great buying opportunities if you area working with an experienced Buyer's broker.

Florence OR Real Estate Market Update!

2011-06-25T10:23:00.000-07:00

As of this posting, The Florence Area residential real estate market has the largest inventory of homes we have ever had. We have 526 Active residential properties for sale w an average asking/median price is $203000 and 179000 respectively. The average days on market is 277.

During the last 12 months, we have enjoyed 241 sales (20/mo) at a median sale price of $163000 with 265 DOM average.

During the last 6 months, 104 properties (17/mo) were sold at a median sale price of 158000 and 204 DOM

During the last month we have seen a slight bump in activity with 28 sold at a median sale price of $163000. In a small market it is impossible to take a 30 day snap shot, seriuosly.

Florence Oregon is a Buyer's market and many excellent buys are to be had with the aid of a capable local Buyer's broker!

At the end of the day, there is a good likelyhood that the current low interest rates will make up for any potential price drops.

Florence Market Activity Spike!

2011-05-27T11:02:00.000-07:00

As of this posting we have 478 active homes for sale at a and average price of $210000 with an average cumulative days on market of 270.

In the last yr, we've had 233 closed sales or 19 sales/mo @ a median sale price of $165000. In the last 6 mos, we've had 96 sales or 16 sales per month at a median sale price $160000.

We have a had a spike in activity during the last few weeks since the sun has come out and look forward to the showings and pendings, converting into closed sales!

Excellent Time to Buy in Florence Oregon!

2011-04-22T11:16:00.000-07:00

As of this posting the Florence Oregon residential inventory has increased to 437 properties at an average asking price of $222000.

The last 6 months have netted 97 residential sales at a median sale price of $170000. The last year has netted 241 sales with a median sales price of $165000 and 277 days on market.

According to RMLS of Oregon, pending 1st quarter sales (rolling 1 year average) were down 40%over last year, with the average sale price being down 8.9%.

The really good news is that if you are looking to retire to or live on the Oregon Coast, excellent buying opportunities abound if you are working with a local knowledgeable broker.

Florence Oregon Real Estate Market Slowdown?

2011-03-18T17:08:00.000-07:00

As of this posting, we have 419 residential units in the Florence, OR area for sale at a median asking price of $208,000 and a cumulative days on market of 382 DOM.

During the last month we have had 9 closed residential sales. During the last 6 months we have netted 109 sales with a median sale price of $165,000 and 284 average days on market. During the last 12 months we have had 241 residential sales at a median sale price of $170,000 and DOM of 272.

In short, the number s of sales/month appears to be slowing and the median sale price appears to be dropping over a 6 month time frame while the DOM appears to be getting longer.

The good news is that there are many excellent buys in the Florence Oregon market, if you are working with a knowleadgable buyer's agent.

For Sellers, The most important thing to do, is get hooked up with a good local agent who is able to perform a realisitc market analysis. Be careful of slick out of area marketing by those who know little of the local market. The choice of agent representing you and the pricing of your property is critical to a timely sale.

Florence Oregon Home Price Trend

2011-03-04T10:21:00.000-08:00

As of this posting, the Florence Oregon home inventory is up to 412 active residential listings at a median asking price of $205,000 with an average days on market DOM of 388.

The last 6 months have netted 115 residential sales at a median sold price of $160,000.
The last 12 months have netted 249 residential sales with a median sold price of $170,000.

In summary, the median residential sale price appears to be edging slightly lower, while asking prices and DOM appear to be edging higher.

It is my guess that many sellers who had pulled their over priced property off the market for the winter are now coming back on the market, which will tend to cause the kind of numbers you see above.

Unfortunately, some of my peers will take up the same old dance, incredibly expecting a different result, while others will have learned that over pricing properties are a waste of every one's time.

If you are looking for a conservative broker to represent you buying needs, give us a call or email today!

Web Parasites Still Lurking!

2011-02-23T12:54:00.001-08:00

If you are looking for Florence Oregon real estate or a Florence OR real estate broker on the web,be sure to check that you are getting a local experienced broker with local knowledge. I wrote a previous blog on the subject of Web Parasites back in 2009 that is still applicable today.

Florence OR Real Estate Wake Up Call

2011-02-06T17:21:00.000-08:00

As of this posting, Florence OR Home inventory is up to 408 while the cumulative days on market is increasing to 378 DOM. Additionally, the median asking price is up to $220,000 as compared with $205,000 a month ago.

The last 6 months have netted 124 residential sales with a median sales price 164,000.
The last 12 months netted 260 residential sales with a median sales price of $165,000.
In short the inventory and median asking price is increasing, while there is downward pressure on actual sales price and an increase in market time.

When I think of the foolish asking prices on listed properties by my some of my peers, I am reminded of the American Idol ditty by a wise old man. "Pants on the ground, pants on the ground, looking like a fool with your pants on the ground"!

The good news is that while some properties are vastly over priced, there are some properties priced at today's market value.

If you are actively seeking a great buy in the Florence Oregon real estate market, the secret is to find an experienced local Florence Oregon Real Estate Broker today.

I have over 30 years local experience and encourage you to pick up the phone to day!

New Year Starts On A Positive Note!

2011-01-06T15:50:00.000-08:00

As of this posting we are down to 400 active residential listings. The median asking price for a Florence area residential property is $220,000 with an average cumultive DOM of 367.

The last 6 months have netted 132 sales in the Florence OR area, with a median sale price of $175,000. The last 12 months have netted 258 residential sales at a median price of $162,000.

The above numbers indicate a slightly higher median sale price during the last 6 months of the year.

The bad news is that the difference between a median asking price of $220,000 and a median sales price of $175,000 in the last 6 months, still indicates and unwillingness by many local real estate practioners to realize we are living in a very different market.

I still witness 4 year old pricing tactics by some (list at any price) that will net longer days on market, a disapointed seller and ultimately a much lower sale price which harms the seller and the overall economy.

If you are looking for an excellent buy on the Oregon Coast, now is the time to buy, especially during the winter months. Prices have never been lower and interest rates are near the lowest they have been in my 30 years of local real estate experience!

Whether you are looking for a Florence home to retire to, a weekender, investment property or land, choose an experienced Buyer's Broker that gives you the excellent service you deserve.

Florence Real Estate Market Trends Steady

2010-12-08T22:08:00.000-08:00

As of this posting the Florence Residential market has 416 active residential listings at a median price of $215,000 and a cumaltive DOM (days on market) of 358.

The last 6 months of sales have netted 137 sales at a median sold price of $163,000.

I find these numbers encouraging for two reasons. Last year we peaked at 485 residential properties being available. This year we are at 416. Last year we averaged around 13 sales per month in contrast with 23 sales per month this year. This year the median sale price seems to be holding at $163,000 as apposed to a year ago at around $155,000.

Housing has become much more affordable and interest rates are at an all time low. If lenders start making loans available based on common sense math and credit, we will be looking toward a long awaited stable market.

Unfortunately the lending criteria and federal scrutiny continues to make it difficult for even strong credit risks to obtain a loan. We need to let our Government officials be aware that credit regulations are far to tuff for the even the well qualified buyer.

If you are wondering where you stand in regard to your ability to get a loan today, give me a call. Those that can obtain a loan today are going to get a fantastic buy with a savy buyer's broker!

Florence OR Real Estate Post Election Market Update

2010-11-10T11:47:00.000-08:00

Currently we have a total of 431 active residential homes for sale at $233,000 average and $209,000 median asking price.

YTD,we have sold an average of 23 homes per month at an average and median sale price of $187000 and $163,000 repsectively.

Currently, Florence OR real estate practioners and sellers, as a whole are still overpricing the market by roughly 22%.

While many practitioners and sellers do not wish to face the realities of the current market, there are still many excellent buying opportunities in Florence if you are working with an experienced Broker/agent!

Florence OR Real Estate Sales Increase!

2010-10-07T13:10:00.000-07:00

The Florence Oregon real estate market netted 28 sales last month (up from 22), while the YTD (year to date) median sale price decreased.

According to RMLS sales data, YTD we have had 195 sales 21 sales/mo average at a median sales price of $162,000 (down from last months YTD report of $172,000) with an average cumalitive days on market being 285.

When comparing the above actual sales data with the median asking price of $220,000, the realities are stark.

Florence Oregon is definitely a Buyer's market at least in the forseeable future.

Florence Oregon is Buyer's Market!

2010-09-01T22:17:00.000-07:00

As of this post we currently have 478 homes for sale at an average asking price of $231,000 and 342 days on market. The Median asking price is $212,000.

In contrast the Florence Oregon Market has yielded 167 sale year to date at an average sales price of $191,000 and a median sales price of $172,000 with 262 average days on market. That equates to a little less than 21 sales/month.

At the end of the day, many real estate practitioners are still missing the mark by as much as 19% when nationally the standard is to normally try to price a home within 10% of the actual sales price.

The really good news is that Florence OR is still one of the best places to retire to in the US and Florence is still a buyer's market if you are working with a knowledgeable buyer's broker.

While many homes are vastly overpriced, some are priced at or below market to make the sale before the winter season is upon us. Now is the time to buy!

Florence Oregon Real Estate Market Offers Great Buys!

2010-08-04T20:35:00.000-07:00

The Florence OR real estate market currently offers 483 residential homes for sale at an average asking price of $236,000 and a median asking price of $215,000.

The last 30 days have netted 19 sales which is down from the YTD average of about 21 sales/month.

The YTD average sale price is $187,000 with a $160,000 median sales price and average cumaltive days on market being 280.

Even though, in many cases there is a $50,000 desparity between asking and selling prices, there are still multiple opportunities to find properties that are priced at or below market value, with the help of an experienced Florence Oregon real estate broker!

Whether you are looking for a spectacular oceanview home or lakefront home on the Florence Oregon Coast, give me a call today. You will be glad you did.

Spectacular Oregon Riverfront

2010-07-13T12:37:00.000-07:00

Every now and then we run into properties that are so unique, they are worthy of special mention. I just listed 3 bedroom, 2 bath Oregon Coast Range riverfront home with over 700 ft of whitewater frontage, in a private 3 acre valley. Check out the link above because this is truly a "one of a kind" property!

Florence OR Real Estate Sales Price Decline

2010-06-28T15:30:00.000-07:00

As of this posting, the Florence Oregon residential inventory has increased to 483 residential listings with an average asking price declining slightly, to $242,000 and the median asking price declining to $222,000.

During the last six months, the Florence OR residential home sales price declined to an average $190,000 and a median sales price of $160,000 for 122 sales.

What appears to be happing is that all the old expired properties that are out there, are returning to the market after much resistance to price change by sellers. Many sellers are finally starting to realize that the market is not going to turn around any time soon.

While many of the Florence OR homes are overpriced, there is substantial opportunity to make a great buy by working with a knowledgeable Buyer's Broker!

Florence OR Real Estate Opportunities Abound!

2010-06-07T16:19:00.001-07:00

The Florence Oregon residential inventory has increased to 478. The average asking price is $243,000 with a cumalitive Days on Market of 333. The current median asking price of $225,000.

The last 6 months of residential home sales activity have netted 123 sales at an average sale price of $193,000 and a median sales price of $165,000.

I am hoping that we are nearing the bottom of the market. The numbers of sales per month have bounced from 10-12 sales per month last year to around 20 residential sale per month over the last 6 months.

If you are considering buying or selling Florence Oregon property, now is the time to to act by contacting an experienced Florence OR real estate Broker!

Florence OR Real Estate Is still a Buyer's Market

2010-05-24T22:21:00.000-07:00

AS of this posting we have 468 residential listings at an average price of $249,000 with an average days on market of 336 and a median asking price of $229,000.

During the last 6 months we have sold 126 residential properties at an average price of $198,000 and a median sold price of $165,000. That means we are averaging a little over 20 sales per month which is much better than 10-12 sale per month during the spring of 2009.

Even though there is a clear disparity between asking and sold prices, there are excellent opportunities for buyers and sellers if you are working with a knowledgeable Florence OR real estate broker.

Stop by our new office at 3757 highway 101 in Florence and check us out. We will not waste your time or money by overpricing your property if you are a seller, or by showing you overpriced property if you are a buyer!

You Deserve The Best Real Estate Agent You Can Find!

2010-05-03T11:37:00.000-07:00

Recently, I recently received an anonymous letter from a buyer that had been looking for real estate in the Florence Oregon area, and has an agent that seems to be more concerned about the seller, than their best interests. The writer wanted to change agents, but was fearful of the uncomfortable feelings that might result because Florence was a "small town". At this stage they are ready to just look for another town on the coast to avoid an "uncomfortable" situation.

If you do not feel comfortable with your Buyer's representative, you stand to loose a substantial sum of money due to poor representation. You have every right to find a competent Buyer's Broker, without fear of feeling "uncomfortable". Florence is a small town, but no one in their right mind, will blame a buyer for seeking a buyer's broker who is in your corner. You deserve the best, and the other agent will get over it. Unfortunately, this situation, happens more frequently than most practitioners would like to admit.

While I always encourage people to work with their chosen broker, there are exceptions. This certainly sounds like one of them!

Keeping It Real In Florence OR!

2010-04-21T22:29:00.000-07:00

As I have predicted, the Florence, OR real estate market has seen the inventory increase to 448 residential properties, with an average asking price of $254,000 and a median asking price of $229,000.

During the last 30 days we have netted 18 sales with a median sale price of $184,000 although year to date, the median sales price is $154,000. It is apparent that many real estate practioners and sellers are not in touch with reality when it comes to pricing their homes.

Since the begining of 2009, the actual median sold price declined 26.67% from $210,000 to $154,000 today. In just 16 months, the value of seller's homes dropped 1.67% per month or about $3500/mo on a home worth $210,000 just 16 months ago.

So why should I care if the same old self serving, "list at any price" practioners carry on the same old policies? Because our clients are real people, with real financial problems and most of them can not afford a $56,000 loss because some practitioner did not have the ambition, skill or heart to tell them the truth. In many cases, the above home is still on the market for $250,000 or more.

The good news is that there are several great Florence Oregon real estate brokers that are willing to give a seller or buyer a current CMA before listing or buying and get the job done at a fair price.

Florence OR Real Estate Sales Up As Prices Decline

2010-04-06T20:09:00.000-07:00

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!