Good Monday Morning!
Home sales continue to increase in numbers and value in Lane County. This August saw a large increase from August of last year and the strong market continues to roll here in Lane County. A word of caution though as I am starting to see homes begin to sit longer and more price reductions as we move through September. This could be the beginning of an anticipated slow down. Only time will tell. Here are the numbers for August home sales in Lane County.
August Residential Highlights
August brought plenty of closed and pending sales to Lane County. Closed sales (536) soared 18.8% over the 451 closings posted last year in August 2015 and 28.2% over the 418 closings posted last month in July 2016. It was the best August for closings since 2005, when 571 closings were posted for the month.
Pending sales (562) fared similarly, rising 10.0% above the 511 offers accepted in August 2015 but edging 2.4% ahead of the 549 offers accepted last month in July 2016.
New listings (650) outpaced August 2015 (615) by 5.7% but cooled 3.0% compared to last month, July 2016.
Inventory shrank slightly to 2.0 months in August, with total market time decreasing to 45 days.
Year to Date Summary
Comparing the first eight months of 2016 to the same period of 2015, closed sales (3,407) have increased 6.8% and pending sales (3,901) have increased 6.4%. New listings (4,768) have decreased 2.5%.
Average and Median Sale Prices
Comparing 2016 to 2015 through August of each year, the average sale price rose 7.2% from $244,100 to $261,700. In the same comparison, the median sale price rose 6.8% from $220,000 to $235,000.
Have An Awesome Week!
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3169 Wolf Meadows Ln
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