Good Monday Morning!
The Real Estate market in the Eugene and Springfield area is changing, but intersting enough the change here is much slower than that of most of the nation. Higher mortgage interest rates and extremely high inflation are beginning to take a toll on the national housing market and economy, but when you look at the numbers, Eugene and Springfield are changing, but not rapidly. This is consistent with what we have seen in our area during past economic change. Eugene and Springfield just dont seem to be subject to rapid change with housing. With all of that, we have a brief reduction in mortgage interest rates. This seems to have kicked our market back into high gear. If you are a buyer, I suggest that you act now before mortgage rates once again start their trend upwards. For sellers, the same thing, act now. The continuation of a hot sellers market may be changing, so act now and don't wait to get your home on the market. The following report is the sales numbers for Lane County in the month of June 2022.
New listings (632) decreased 0.2% from the 633 listed in June 2021, and increased 4.5% from the 605 listed in May 2022.
Pending sales (440) decreased 15.5% from the 521 offers accepted in June 2021, and decreased 9.1% from the 484 offers accepted in May 2022.
Closed sales (465) decreased 9.9% from the 516 closings in June 2021, and increased 9.4% from the 425 closings in May 2022.
Inventory and Market Time
Inventory increased to 1.1 months in June. Total market time decreased to 18 days.
Comparing the first six months of 2022 to the same period in 2021, new listings (3,057) increased 2.2%, pending sales (2,503) decreased 3.7%, and closed sales (2,304) increased 0.8%.
Average and Median Sale Prices
Comparing 2022 to 2021 through June, the average sale price has increased 14.8% from $414,600 to $475,900. In the same comparison, the median sale price has increased 13.0% from $385,000 to $435,000.
Have An Awesome Week!
Stay Healthy! Stay Safe! Remain Positive! Trust in God!
THIS WEEKS HOT HOME LISTING!
Gorgeous meticulously cared for one level home with lots of windows and light. Beautiful views overlooking the wooded areas and neighborhood. Vaulted ceiling in the living room and very open area. Finished and heated two car garage. Private patio ar...