Good Monday Morning!

December of 2024 saw some slight improvements in the Lane County housing market. Overall, 2024 also saw a slight market improvement over 2023. However, the part of the housing market that has not improved is the inventory of homes on the market for sale. December 2024 saw 2.5 months of inventory, which is very low. Remember, a healthy market would see 4.5 to 6 months of inventory. The fact that home sales have improved in December may be a good sign that the housing market is going to improve in 2025. December saw a 20% increase in pending home sales nationally, which is also a very good sign. The first quarter of 2025 may tell the story of what the remainder of the year will look like. The following are the home sales numbers for Lane County in December of 2024.

New Listings

New listings (194) increased 9.6% from the 177 listed in December 2023, and decreased 20.8% from the 245 listed in November 2024.

Pending Sales

Pending sales (260) increased 25.0% from the 208 offers accepted in December 2023, and decreased 6.8% from the 279 offers accepted in November 2024.

Closed Sales

Closed sales (257) increased 19.5% from the 215 closings in December 2023, and decreased 9.2% from the 283 closings in November 2024.

Inventory and Time on Market

Inventory decreased to 2.5 months in December. Total market time increased to 72 days.

Year-to-Date Summary

Comparing the twelve months of 2024 to the same period in 2023, new listings (4,878) increased 3.0%, pending sales (3,811) increased 5.5%, and closed sales (3,699) increased 3.9%.

Average and Median Sale Prices

Comparing 2024 to 2023 through December, the average sale price has increased 1.3% from $470,600 to $476,700. In the same comparison, the median sale price has increased 1.6% from $432,900 to $440,000.

Have An Awesome Week!

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

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AND HERE'S YOUR MONDAY MORNING COFFEE!!