Florence, Oregon Housing Market

How much can you negotiate in Florence?

Only 27 out of every 100 homes for sale have found a buyer. The other 73 are still waiting. Your offer may be the only one on the table. About 1 in 3 sellers has already dropped their price. Each one has learned their first price was too high. Start below their new price, not their old one.

A typical Florence home takes 92 days to find a buyer. Half of them take even longer. That is 14% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 180+ days ago. There are 144 homes for sale in Florence. That is the most in ten years. It is 7 times the low of Feb 2022. Every one of them competes with the house you want.

What to do about it

• Search Florence homes listed 180+ days ago that have already cut their price.
• Offer below the reduced price.
• Keep your inspection and financing contingencies.
• Ask the seller to pay closing costs.
• You can lose a few offers here and still win.

Is now a good time to buy in Florence?

Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house. Florence prices have risen in 92 of the last 111 months. Drops here have been short and shallow. Buying in a slow month has rarely hurt a long hold.

This market is turning. Which way is not settled yet. Check the monthly numbers above before you commit.

Who will rent from you in Florence?

In Florence, 27 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 30 in 100. Renter households average 2.1 people. Singles and couples rent here. Two bedrooms beat four.

Households grew 12% in five years. The housing stock grew 4%. Demand is outrunning supply. 13.3% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

The median Florence household earns $61,982 a year. Incomes here have grown 6.8% a year since 2019. Incomes are rising faster than home prices. Affordability is improving. A typical home costs 10.4 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. A tenant on the median income can pay about $1,550 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast.

That is the market, not your address. Run an address through the app to see its rent estimate and cash flow.

What numbers should you underwrite a Florence deal with?

• Price growth to assume — +3.2%/yr. Florence grew 5.9% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Florence grows about 3.2% a year. That is the number to type in. Prices fell 2.1% over the last year. That is a timing signal, not a trend.
• Months of carrying cost — 4. A typical home takes 92 days to sell. Budget that long when you exit or refinance. It is 14% slower than a year ago.
• Odds you cut your price to sell — 1 in 3. About 30% of homes on the Florence market right now have already cut their asking price. Assume you are one of them when you sell. Do not underwrite an exit at your asking price.
• Comp on this, not median price — $332/sqft. The average listing runs +13% above the median. Luxury homes skew it. Comp your own size class per sqft.
• Competition when you exit — +1%. The number of homes for sale barely moved in a year. Today's comps are a fair guide to your exit.
• Price-to-income ratio — 10.4×. A typical home costs 10.4 times the median income. Most locals cannot buy. That keeps rental demand deep. It also caps the rent they can pay. Incomes are rising faster than home prices. Affordability is improving.
• Tenant rent ceiling — $1,550/mo. 30% of the median household income of $61,982. Rents above this line shrink your tenant pool fast.

Is Florence a buyer's or seller's market in 2026?

Yes, if you negotiate. Buyers have the upper hand in Florence right now. 27 out of every 100 homes for sale have a buyer, 30% of sellers have cut their price, and a typical home takes 92 days to sell.

Are Florence home prices going up or down?

Asking prices are at their highest point on record. You are buying at the top. Underwrite it that way. Prices are rising again. Every month you wait costs money. The question is no longer when. It is which house.

What price growth should I assume for Florence?

Assume +3.2% a year. Florence grew 5.9% a year over the decade. Ignore that rate. Most of it landed in the 2020 and 2021 boom. Without the boom, Florence grows about 3.2% a year. That is the number to type in. Prices fell 2.1% over the last year. That is a timing signal, not a trend.

How fast are homes selling in Florence?

A typical Florence home takes 92 days to find a buyer. Half of them take even longer. That is 14% slower than a year ago. Those sellers are paying to own a house they want to sell. Search for homes listed 180+ days ago.

Is Florence a renters' market or an owners' market?

In Florence, 27 out of every 100 households rent. Most own their home. The renter share is shrinking. Five years ago it was 30 in 100. 13.3% of homes sit empty. Tenants have options. Budget extra weeks of vacancy between leases.

What rent can Florence tenants afford?

A tenant on the median income can pay about $1,550 a month. That is the standard 30% affordability line. Rents above it thin your tenant pool fast. The median Florence household earns $61,982 a year.