Categories: Business NewsConstructionNewsReal Estate & Properties

Florence Home Prices Surge Amidst Rising Inventory

A vibrant Florence neighborhood reflecting the thriving real estate market.

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Florence Real Estate Group

Florence Real Estate Group has established itself as a leading authority in the Florence housing market, offering expert guidance in buying, selling, and developing residential properties. With a deep understanding of local market dynamics, the company has navigated significant fluctuations in home prices, inventory levels, and new construction developments over recent years. Their team has contributed to the growth of Florence’s real estate landscape, working closely with city planners and developers such as DH Horton to support expansive projects like The Bluffs at Mill Creek and other new subdivisions. Committed to providing clients with strategic insights and tailored solutions, Florence Real Estate Group continues to evolve alongside the city’s changing housing needs, maintaining a reputation for reliability and market expertise.

News Summary

Florence has seen a remarkable 12% increase in home prices, with the median sales price reaching $270,450. This rise is accompanied by a significant 99.6% surge in home inventory, driven by new construction projects. While many buyers are eager, concerns over rising prices and economic uncertainty linger. Experts suggest the current market dynamics present a unique opportunity for buyers, especially as the busy summer selling season approaches.

Florence has witnessed a significant increase in home prices, with the median sales price rising 12% to $270,450 in April 2025 compared to the same month last year. This rise marks the highest increase experienced by local real estate agents, highlighting shifting trends in the city’s housing market.

In conjunction with these rising prices, the inventory of homes for sale in Florence experienced a notable surge of 99.6% in April 2025 compared to April 2024. The increased supply appears to be a response to growing demand, with homebuyers primarily focused on affordable properties in the price range of $200,000 to $350,000. The real estate community identifies the price range of $150,000 to $280,000 as particularly appealing, often referred to as the “golden” range for buyers.

New construction plays a significant role in the rising inventory levels. Recently approved projects by the city’s planning commission are set to contribute to this growth. More than 600 new homes are planned for West and South Florence, primarily developed by companies such as DH Horton. The Bluffs at Mill Creek in South Florence is one of the new subdivisions, with a sister development already underway in West Florence. However, many of these newly constructed homes are priced outside the desired range of most buyers, which has contributed to the overall increase in property prices.

While the median sales price continues to rise, many real estate agents in Florence do not anticipate such rapid growth to persist. The price per square foot of homes in the area is also increasing, further complicating the affordability for potential buyers. Additionally, homebuyers are exhibiting some hesitation in the market. Influences such as federal tariffs and broader economic uncertainty are leading many to approach the current market with caution.

Despite these challenges, experts believe that current market conditions might offer better purchasing opportunities for buyers due to decreased competition compared to previous years. Even with higher interest rates, there is an argument that buying a home now might help buyers save money in the long run. It is suggested that interest rates could decrease slightly in the latter half of the year, depending on federal policy changes, which may further enhance the attractiveness of buying now and refinancing later once rates improve.

As the busy summer season approaches, it is generally seen as a prime time for sellers, particularly for homes priced between $200,000 and $350,000. With the recent changes in the real estate landscape, prospective buyers and sellers alike are urged to consider the evolving market dynamics as they make their decisions.

Overall, the Florence real estate market is navigating a transition, with rising prices and increasing inventory creating an intriguing situation for both buyers and sellers. As the summer season nears, stakeholders in the market will be paying close attention to these trends and their implications.