Good Monday Morning!
Home sales in Lane County were on the rise again last month, but the number of homes actively on the market for sale took a dive. It still remains a great market for home sellers and a challenging market for homebuyers in Lane County. Home price in our area also continues to climb. With the recent decrease in mortgage loan interest rates, don’t look for any change soon. Here are the numbers for Lane County Real Estate in March of 2017.
Activity is warming up for the season in Lane County, although numbers seem to be a bit cooler this year compared to 2016. Closed sales (355) ended 3.3% below the 367 closings recorded last year in March 2016, but were a 43.7% improvement over the 247 closings recorded last month in February 2017.
New listings (537) fared similarly, ending 3.8% under the 558 new listings offered in March 2016 but increasing 36.6% compared to last month in February 2017.
There were 478 pending sales, a 29.5% increase from last month (369) but 7.7% under the offers accepted in March 2016 (518).
Inventory in Lane County edged down to 1.7 months in March. Total market time averaged downward as well, ending at 69 days.
Average and Median Sale Prices
Comparing the average price of homes in the twelve months ending March 31st of this year ($268,100) with the average price of homes sold in the twelve months ending March 2016 ($244,600) shows an increase of 9.6%. The same comparison of the median shows an increase of 7.9% over that same period.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
398 69th Place
Wonderful home with a lot to offer! In Thurston neighborhood and distant view of mountain tops. Heat pump, granite tile counters, ash hardwood floors, tile floor, 2 bay windows, lots of storage space & natural light. Living room with wood-burning fi…