The housing market in Florence continues to see strong price appreciation, with values up 17.9% compared to last year. Home prices have decreased 6.4% in the past month. With 106 active listings, inventory is 56% higher than seasonal norms. Homes are now taking an average of 74 days to sell, significantly longer than the 46 days typical for this market. A significant 33.0% of listings experienced price reductions, indicating sellers may be adjusting to market realities. Approximately 18.4% of homes sold above list price, indicating some competitive segments within the market. Affordability remains a significant challenge in the Florence market with the affordability index at 26.9. Based on current market indicators, home prices in Florence are projected to decrease by approximately 6.9% over the next month.