Tawfik Ahdab, our local Certified Residential Appraiser, prepares sales reports for us every quarter. Here's some pithy remarks from his summary:
"Extrapolating from the current rate of sales since the beginning of this year, the total Greater Florence sales volume for 2009 is projected at about 142 units, which would be 33.65% lower than the already-pathetic 214 sales of 2008. Even with the summer season having begun, there is little evidence of a reversal of the continuing contraction of the Greater Florence residential market...One reason for the current market lethargy is that tightness in the mortgage market persists...The median sale price reached $179,900 in the second quarter of 2009, very near the low registered in the third quarter of 2008.... Most market activity has been at the lower end, with very little action above the $350,000 price segment. This is partially explained by the eager response of buyers perceiving good deals among foreclosure and short sale related listings. It should be noted that the handful of foreclosures on the market tend to be purchased more quickly than nonduress related listings, such that are not just piling up. And although the number of listings at mid-year was within the recent historical range at 487, the months’ supply of listings was up to a record 31.4 months...Much uncertainty remains about the direction of Florence real estate, just as there is lingering concern about the recovery of most housing markets nationally. The silver lining is that purchasers who are able to buy at all are responding to good and even excellent deals in the Greater Florence market.
About Me
- Hope MacManus
- Florence, Oregon, United States
- Before moving to Florence in 2004, Hope worked in health care, in hospitals and rural clinics, then as a health administrator for the State of North Carolina. She handles multiple tasks, supervises complex deals and has managed multi-million dollar budgets. Hope and her husband have owned two homes in Florence, one close to Old Town and one surrounded by trees north of the Florence city limits. Hope has a "can do" attitude, is tough, tenacious and gets the job done. Real estate is her full time career and her clients benefit from her full time attention. She has successfully represented both commercial and residential properties. She is married to a husband and a dog and loves calling "Paradise on the Pacific," lovely Florence, her home.