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How Long Will This Hot Sellers Market Last?

Good Monday Morning!

The 2021 Real Estate Market in the Eugene and Springfield area ended with a bang!  Home prices were up 19.1% over the year.  It ended with an average sales price of well over $400,000. Will this trend continue through 2022?  My bet is a big, "NO"!  We may see this same kind of market with inflating home prices and low inventory for the first quarter and possibly into mid year.  After that, look for the effects of raging inflation to have an effect as the Fed has to raise interest rates in an effort to stem inflation.  This could create a cooling of the housing market.  How much it cools and for how long, greatly depends upon the national economy.  For now, if you are thinking about selling your home, don't wait.  You can still take advantage of a hot sellers market!! Here are the home sale numbers for December of 2021.

New listings (240) decreased 8.4% from the 262 listed in December 2020, and decreased 25.2% from the 321 listed in November 2021.

Pending sales (290) decreased 1.7% from the 295 offers accepted in December 2020, and decreased 26.0% from the 392 offers accepted in November 2021.

Closed sales (414) decreased 7.0% from the 445 closings in December 2020, and increased 0.7% from the 411 closings in November 2021.

Inventory and Market Time

Inventory decreased to 0.6 months in December. Total market time held steady at 30 days.

Year-To-Date Summary

Comparing the twelve months of 2021 to the same period in 2020, new listings (5,850) increased 4.5%, pending sales (5,180) increased 4.0%, and closed sales (5,124) increased 5.8%.

Average and Median Sale Prices

Comparing 2021 to 2020 through December, the average sale price has increased 19.1% from $365,500 to $435,300. In the same comparison, the median sale price has increased 18.6% from $336,500 to $399,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!


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