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Inventory Of Homes For Sale Remain Low

Good Monday Morning!

Home sale numbers for February 2022 are in and they don't reflect much change with the exception of home sales prices.  The price of homes in the Eugene and Springfield area continues to escalate.  The sellers market of the last couple of years continues as the inventory of homes for sale remains extraordinarily low.  February had .9 months of inventory. This means that if no new homes were to hit the market, our current inventory of homes for sale would be gone in about 3 weeks.  A healthy market would have 3-6 months of inventory.  With mortgage interest rates rising and inflation continuing to plague us, the market you see today will not be the market of the near future. Here is the home sale report from RMLS for Lane County in the month of February 2022.

Residential Highlights

New listings (427) increased 21.3% from the 352 listed in February 2021, and increased 26.7% from the 337 listed in January 2022.

Pending sales (402) increased 12.9% from the 356 offers accepted in February 2021, and increased 20.0% from the 335 offers accepted in January 2022.

Closed sales (265) decreased 1.9% from the 270 closings in February 2021, and decreased 2.9% from the 273 closings in January 2022.

Inventory and Market Time

Inventory increased to 0.9 months in February. Total market time decreased to 33 days.

Year-To-Date Summary

Comparing the first two months of 2022 to the same period in 2021, new listings (763) increased 8.5%, pending sales (726) increased 4.9%, and closed sales (544) decreased 4.2%.

Average and Median Sale Prices

Comparing 2022 to 2021 through February, the average sale price has increased 18.3% from $386,200 to $456,900. In the same comparison, the median sale price has increased 15.8% from $360,000 to $416,900.

Have An Awesome Week!

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


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