Your Real Estate Market Update
Updated: Apr 30, 2020
While the times have changed, the real estate market in Florence continues to climb.
Increased inventory in Q1 2020 brought some balance into the market which was tight to start the year. Pending activity also increased year over year keeping the Florence/Mapleton market competitive. During Q1 2020, days on market (DOM) averaged 79, months of inventory (MOI) averaged 3.8 and sellers averaged receiving 94% of their original listing price. Values in Florence/Mapleton saw growth during Q1 2020 as well. The average price per square foot increased 5.9% and the average sales price increased 12%.
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In Lane County as a whole comparing 2020 to 2019 through March, the average sale price has increased 9.6% from $306,200 to $335,700. In the same comparison, the median sale price has increased 12.5% from $280,000 to $315,000.
If you are thinking of selling now is an opportune time. I would be happy to meet with you, either in person or virtually, for a walk through of your property to discover your current market value.
Laura Wilson, Real Estate Broker
Windermere Real Estate, Florence Oregon