Good Monday Morning!
Good news for homebuyers in the Eugene and Springfield area!! The inventory of homes on the market for sale has increased slightly and believe it or not, the housing market has become slightly less competitive. This also means that pricing has become somewhat softer in some price ranges and areas. If you have been searching for a home and gave up due to the fact that you could not find a home, you should take advantage of this market change. Here are the home sales statistics for the month of November 2018 in Eugene and Springfield.
November Residential Highlights
Lane County saw an uptick in new listings this November. At 393, new listings outpaced November 2017 (345) by 13.9%, despite cooling 16.2% from the 469 new listings also entered last month in October 2018. The last November with more new listings in Lane County was in 2007,when 467 new listings were o ered.
Pending sales, at 351, ended 4.1% cooler than in November 2017 (366)and 22.9% cooler than October 2018(455).
Closed sales, at 370, similarly cooled 6.1% from November 2017(394) and 12.1% from October 2018(421).
Inventory in Lane County showed a slight increase in November, ending at 2.2 months. Total market time rose to 52 days in the same period.
Year to Date Summary
Comparing the first eleven months of 2018 to 2017, closed sales (4,848) have increased 0.8% and new listings(6,155) have increased 0.2%. Pending sales (4,952) have decreased 0.3%.
Average and Median Sale Prices
Comparing 2018 to 2017 through November of each year, the average sale price has increased 7.1% from $288,300 to $308,800. In the same comparison, the median sale price rose 8.3% from $260,000 to $281,500.
Have An Awesome Week!
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