Real Estate Information Archive

Good Monday Morning!

Just when we thought the super low mortgage interest rates had left us behind, the rates decided to take another drop. It is a pleasant suprise, but don't get too excited about these super low rates hanging in there for the long haul.  If you are sitting on the fence about a home purchase or a refinance, it might be wise to act quickly.  The following is and update on the current mortgage rate market from "Realtor.com".

Mortgage rates retreated below 3% this week, but the factors that pushed them higher in previous weeks remains—all while Americans grow increasingly frustrated with the competitive housing market.

The 30-year fixed-rate mortgage averaged 2.99% for the week ending Oct. 7, down two basis points from the previous week, Freddie Mac reported Thursday. Last year, this mortgage product carried an average interest rate of 2.87%.

The 15-year fixed-rate mortgage fell five basis points to an average of 2.23%, while the 5-year Treasury-indexed hybrid adjustable-rate mortgage rose by four basis point to an average of 2.52%.

“Mortgage rates continue to hover at around 3% again this week due to rising economic and financial market uncertainties,” Sam Khater, Freddie Mac’s chief economist, said in the report. “Unfortunately, with the expectation that both mortgage rates and home prices will continue to rise, competition remains high and housing affordability is declining.”

All that competition continues to weigh on consumers, causing them to sour on the housing market. The results of a new survey from Fannie Mae released Thursday showed that roughly two-thirds of consumers believe now is a bad time to buy a home, and most people think it’s a good time to sell. Over half of the survey takers said that home prices will either go up or stay the same over the next 12 months.

“In our view, other housing market fundamentals remain supportive of further home price appreciation—including low levels of inventory and low interest rate,” Doug Duncan, chief economist at Fannie Mae, said in the report.

The Fannie Mae survey also showed, though, that a growing number of people are likely in for a bad surprise when it comes to mortgage rates. The share of people who expect interest rates to drop over the next year went up slightly from 6% to 8%, but most economists expect rates to increase over that time frame.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

4927 Fox Hollow Rd, Eugene, OR 

Price: $439,000    Beds: 3    Baths: 2.0    Sq Ft: 1366

Updated one level home in desirable East Eugene neighborhood. Beautiful views out of back of home into private wooded backyard. Large and open living room connected to family/dining room area. Large laundry room with plenty of storage. Home security...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

For the first time in a long time, mortgage interest rates edged slightly higher last week.  This could signal the begining of the end for the super cheap rates we have been taking advatage of.  Mortgage rates at around 3% are still an unbelievable value, but all indications are that these rates may go higher.  If you are on the fence about either purchasing or selling a home, now is the time to act.  If rates continue to rise, the market we have today may be changing and your ability to sell at top value and your ability to purchase with super low mortgage rates may erode.  Here is a recent article from "Realtor.com" that talks about the recent changes in mortgage rates.

The rise in mortgage rates followed the upward climb of the 10-year U.S. Treasury yield over the past week—the long-term bond rose to the highest level since June. In both cases, the surge in interest rates came as a reaction to last week’s statement from the Federal Reserve. The central bank signaled it would begin tapering the asset-buying activities that it began last year in an effort to stimulate the economy. The central bankers also indicated that an interest-rate hike could come in 2022.

Among the assets that the Fed has been buying on a monthly basis are mortgage-backed securities. Those purchases by the central bank helped to pump a ton of liquidity into the mortgage market, which allowed lenders to cut interest rates. With the size of the Fed’s purchases likely to decrease later this fall, lenders will be forced to increase rates, according to economists.

That could have ripple effects into the broader housing market. “Mortgage rates remain low and are supporting demand” for homes, Rubeela Farooqi, chief U.S. economist for High Frequency Economics, wrote in a research note Thursday. “However, the incentive to buyers could diminish if rates rise once the Fed starts tapering.”

For buyers still in the market, it will become important to factor in the potential for rising interest rates when determining their budgets, Hale said.

Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move,” Hale said. “Additionally, home shoppers want to carefully consider their must-haves versus nice-to-haves since both rising home prices and higher rates mean higher monthly payments.”

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1616 Fetters Loop, Eugene, OR 

Price: $245,000    Beds: 2    Baths: 1.5    Sq Ft: 1118

Well maintained with newer carpet, interior paint and vinyl flooring. Sliding door to nice rear patio. Master has 3 closets! Two exterior storage areas in the front and back. HOA includes trash, landscaping, common areas, pool and covered carport. N...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

For the first time in a long time, mortgage interest rates edged slightly higher last week.  This could signal the begining of the end for the super cheap rates we have been taking advatage of.  Mortgage rates at around 3% are still an unbelievable value, but all indications are that these rates may go higher.  If you are on the fence about either purchasing or selling a home, now is the time to act.  If rates continue to rise, the market we have today may be changing and your ability to sell at top value and your ability to purchase with super low mortgage rates may erode.  Here is a recent article from "Realtor.com" that talks about the recent changes in mortgage rates.

The rise in mortgage rates followed the upward climb of the 10-year U.S. Treasury yield over the past week—the long-term bond rose to the highest level since June. In both cases, the surge in interest rates came as a reaction to last week’s statement from the Federal Reserve. The central bank signaled it would begin tapering the asset-buying activities that it began last year in an effort to stimulate the economy. The central bankers also indicated that an interest-rate hike could come in 2022.

Among the assets that the Fed has been buying on a monthly basis are mortgage-backed securities. Those purchases by the central bank helped to pump a ton of liquidity into the mortgage market, which allowed lenders to cut interest rates. With the size of the Fed’s purchases likely to decrease later this fall, lenders will be forced to increase rates, according to economists.

That could have ripple effects into the broader housing market. “Mortgage rates remain low and are supporting demand” for homes, Rubeela Farooqi, chief U.S. economist for High Frequency Economics, wrote in a research note Thursday. “However, the incentive to buyers could diminish if rates rise once the Fed starts tapering.”

For buyers still in the market, it will become important to factor in the potential for rising interest rates when determining their budgets, Hale said.

Smart buyers should consider calculating a monthly payment not only at today’s rates, but also at rates that are a bit higher so that they won’t be derailed by a sudden upward move,” Hale said. “Additionally, home shoppers want to carefully consider their must-haves versus nice-to-haves since both rising home prices and higher rates mean higher monthly payments.”

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1616 Fetters Loop, Eugene, OR 

Price: $245,000    Beds: 2    Baths: 1.5    Sq Ft: 1118

Well maintained with newer carpet, interior paint and vinyl flooring. Sliding door to nice rear patio. Master has 3 closets! Two exterior storage areas in the front and back. HOA includes trash, landscaping, common areas, pool and covered carport. N...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The housing market both locally and nationally remains strong and with this home prices continue to climb.  Here in Lane County the average home sale price is $450,000.  Its hard to beleive that home prices have surged to this level here, but most of the nation has experienced a similar situation.  The following is a report on home sale values nationally.

The numbers: Sales of new homes in the U.S. rose in August, as the market for newly constructed buildings continues to show signs of stabilization after months of declines.

U.S. new-home sales increased 1.5% to an annual rate of 740,000, the government said Friday. The figure equates to how many homes would be sold over a yearlong period of time if the same number were bought in each month based on the rate of sales in July. Compared to a year ago, sales were down 24%.

The median forecast of economists polled by MarketWatch was that new home sales would come in at an annual rate of 720,000 for August.

Unlike the existing-home sales report from the National Association of Realtors, the new-home sales report from the U.S. Census Bureau captures sales when the contract is signed rather than when the sale is closed.

The report’s small sample size also means that it is quite volatile and prone to significant revisions. Indeed, the sales figure for July was upwardly revised to 729,000 from the originally reported number of 708,000.

What happened: The median sales price of new houses sold in August was $390,900, matching July’s figure, which was a record high. The supply of new homes for sale increased between July and August, equating to a 6.1-month supply of homes.

Regionally, the Northeast notched the largest gain in new-home sales, while the Midwest was the only part of the country to record a decrease.

The big picture: Whether new home sales can keep this steady pace will depend upon how willing buyers are to stomach rising prices—especially given expectations that mortgage rates are set to increase given the Federal Reserve’s shifting policies.

“Buyers show signs of having moved past a ‘land-a-home-at-all-costs’ mentality as rising home prices mean purchasing a home—whether new or existing—requires a larger share of the typical American’s paycheck,” said Danielle Hale, the chief economist at Realtor.com. “Consumers were recalibrating priorities this summer, balancing the resumption of travel, vacations and dining out with big ticket budget items like home-buying or renting—and doing so in the face of rising costs on just about everything.”

What they’re saying: “New home sales have fallen sharply this year, but they have not dropped as far as the mortgage applications data suggest. That’s probably because the proportion of cash buyers, who don’t appear in the mortgage data, has risen, as it clearly has in the existing homes market,” Ian Shepherdson, the chief economist at Pantheon Macroeconomics, said in a research note.

Market reaction: The Dow Jones Industrial Average and S&P 500 index both experienced slight increases in Friday morning trades.

However, major home-builder stocks such as D.R. Horton, Lennar Corp. and PulteGroup were mixed following the new home sales report’s release.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

2941 Edgewater Dr, Eugene, OR 

Price: $1,125,000    Beds: 3    Baths: 4.0    Sq Ft: 3397

Don't miss this elegant 1-level executive home in a quiet cul-de-sac. Large covered patio w/ infrared ceiling heat & a gas fire table overlook a pond & waterfall making it a relaxing & private retreat. Spacious indoor/outdoor entertaining w/ Sonos s...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Mortgage interest rates are a key ingredient for keeping the current Real Estate market active.  With the escalation in home prices in our area, low interest rates are keeping home payments at an affordable level.  Any mortgage interest rate increases at this time may have a strong negative effect on home affordability and the overall housing market. The following is an article from "Realtor.com" that talks about current mortgage interest rates.

Mortgage rates edged slightly higher but remained close to all-time lows, despite disappointing economic reports over the past week.

The 30-year fixed-rate mortgage averaged 2.88% for the week ending Sept. 2, up one basis point from the previous week, Freddie Mac reported Thursday. Mortgage rates are now above their level from last year — a year ago, the 30-year loan averaged 2.86%.

The 15-year fixed-rate mortgage increased one basis point over the past week to an average of 2.19%. The 5-year Treasury-indexed hybrid adjustable-rate mortgage fell by that same amount to an average of 2.42%.

For home buyers, the holding pattern mortgage rates have remained in for the past few weeks is welcome, given the likelihood of higher rates in the future.

“With inflation a simmering concern, when mortgage rates do begin to move, they will most likely move higher,” said Danielle Hale, chief economist at Realtor.com. “For homebuyers and refinancers alike, mortgage rates remain favorable, but may not remain so for long.”

While mortgage rates have remained stable in recent weeks, it has not led to an increased flow of applications from potential home buyers. The most recent mortgage application data from the Mortgage Bankers Association showed that the volume of applications for loans used to buy homes is down significantly in recent weeks.

Buyers remained constrained by the lack of homes for sale on the existing-homes side of the market, as evidenced by recent reports on the state of the housing market.

“Housing, while likely to remain reasonably solid, is not going to be as red-hot going forward as it had been, nor is it going to continue to slide for very long like it has recently,” Joshua Shapiro, chief U.S. economist at MFR Inc., wrote in a research report Wednesday.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1691 Mill St, Eugene, OR 

Price: $980,000    Beds: 9    Baths: 4.0    Sq Ft: 3600

Restored 1905 Historic home. Sale includes 1691 Mill St. and 417 E. 11th Ave. Both homes are on the same tax lot. Currently a campus rental. 1691 has a 3 bedroom rental unit and a 2 bedroom rental unit. 417 has 2 two bedroom rental units. for a tota...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The numbers are in for August 2021 home sales in the Eugene and Springfield area.  As you will see, there has been little change.  Home inventories remain very low, home prices continue to escalate and mortgage interest rates remain extremely low and favorable.  I will say that I feel we are on the edge of a market shift.  There are indicators starting to show that would suggest a change is on the horizon.  If you are thinking about selling your home in this strong market, don't wait.  There may not be much time remaining to take advantage of this sellers market.  Here are the August 2021 home sales numbers for Lane County.

New listings (600) increased 2.6% from the 585 listed in August 2020, and decreased 2.0% from the 612 listed in July 2021.

Pending sales (549) decreased 2.7% from the 564 offers accepted in August 2020, and increased 6.0% from the 518 offers accepted in July 2021.

Closed sales (486) decreased 0.2% from the 487 closings in August 2020, and decreased 2.6% from the 499 closings in July 2021.

Inventory and Market Time

Inventory increased to 0.9 months in August. Total market time decreased to 17 days.

Year-To-Date Summary

Comparing the first eight months of 2021 to the same period in 2020, new listings (4,236) increased 5.7%, pending sales (3,624) increased 4.6%, and closed sales (3,304) increased 9.5%.

Average and Median Sale Prices

Comparing 2021 to 2020 through August, the average sale price has increased 19.9% from $355,100 to $425,900. In the same comparison, the median sale price has increased 19.5% from $328,000 to $392,000.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

2941 Edgewater Dr, Eugene, OR 

Price: $1,125,000    Beds: 3    Baths: 4.0    Sq Ft: 3397

Don't miss this elegant 1-level executive home in a quiet cul-de-sac. Large covered patio w/ infrared ceiling heat & a gas fire table overlook a pond & waterfall making it a relaxing & private retreat. Spacious indoor/outdoor entertaining w/ Sonos s...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

This recent survey is interesting. As the lots our new homes sit on continue to get smaller in most areas of the country, the demand for larger lots and privacy is growing.  This could indicate that the value of older homes on larger lots will increase and demand for all that they offer grows.  Here is a recent survey that indicates this trend.

Americans want more social distance from their neighbors. A new Pew Research Center study finds a shift in home preferences since the pandemic with more consumers saying they want a larger home, even if it means local amenities are further away.

That marks a shift from 2019 when more Americans were desiring smaller houses that were “closer to each other, but schools, stores, and restaurants are within walking distance,” according to the Pew Research study.

Six in 10 U.S. adults surveyed say they would prefer to live in a community with larger homes that had a greater distance to retail stores and schools. That is up 7 percentage points since 2019. On the other hand, 39% of consumers surveyed say they prefer a community with smaller houses that are closer together and near amenities, down 8 points since 2019.

Americans want more social distance from their neighbors. A new Pew Research Center study finds a shift in home preferences since the pandemic with more consumers saying they want a larger home, even if it means local amenities are further away.

That marks a shift from 2019 when more Americans were desiring smaller houses that were “closer to each other, but schools, stores, and restaurants are within walking distance,” according to the Pew Research study.

Six in 10 U.S. adults surveyed say they would prefer to live in a community with larger homes that had a greater distance to retail stores and schools. That is up 7 percentage points since 2019. On the other hand, 39% of consumers surveyed say they prefer a community with smaller houses that are closer together and near amenities, down 8 points since 2019.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

1691 Mill Street, Eugene, OR 

Price: $980,000    Beds: 9    Baths: 4.0    Sq Ft: 3611

Restored 1905 Historic home. Sale includes 1691 Mill St. and 417 E. 11th Ave. Both homes are on the same tax lot. Currently a campus rental. 1691 has a 3 bedroom rental unit and a 2 bedroom rental unit. 417 has 2 two bedroom rental units. for a tota...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

A bright spot in the Real Estate world is that mortgage interest rates continue to hold at extremely favorable levels.  For home buyers this is huge as our local housing market seems to be shifting with more inventory available and what seems to be the beginning of prices coming down.  Here is a report on current mortgage rates.

Mortgage rates continue to hover at all-time lows, marking the ninth consecutive week that rates have averaged below 3%.

“The tug-of-war between the economic recovery and rising COVID-19 cases has left mortgage rates moving sideways over the last few weeks,” said Sam Khater, Freddie Mac’s chief economist. “Overall, rates continue to be low, with a window of opportunity for those who did not refinance under 3%. From a homebuyer perspective, purchase application demand is improving, but the major obstacle to higher home sales remains very low inventory for consumers to purchase.”

Additional housing inventories may be on the horizon, however. The National Association of REALTORS® reported this week that more listings arrived on the market in July, a trend that could continue into the fall months. Housing inventories increased 7.3% in July compared to June.

Low mortgage rates likely will remain a strong pull for potential home buyers. A rush to lock in a low rate may continue to propel the housing market. NAR predicts the 30-year fixed-rate mortgage to rise, expecting it to average 3.2% from October through December.

Freddie Mac reports the following national averages with mortgage rates for the week ending Aug. 26:

• · 30-year fixed-rate mortgages: averaged 2.87%, with an average 0.6 point, up slightly from last week’s 2.86% average. A year ago, 30-year rates averaged 2.91%.
• · 15-year fixed-rate mortgages: averaged 2.17%, with an average 0.6 point, rising slightly from last week’s 2.16% average. A year ago, 15-year rates averaged 2.46%.
• · 5-year hybrid adjustable-rate mortgages: averaged 2.42%, with an average 0.2 point, falling slightly from last week’s 2.43% average. A year ago, 5-year ARMs averaged 2.91%.

Freddie Mac reports average commitment rates along with average points to better reflect the total upfront cost of obtaining a mortgage.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

3403 Timberline Dr, Eugene, OR 

Price: $599,900    Beds: 4    Baths: 3.0    Sq Ft: 2542

Beautifully updated SW Eugene home on a gorgeous landscaped lot. An abundance of windows & vaulted ceilings allow for natural light throughout the day. Kitchen has granite counters & newer stainless steel appliances. Large master suite with w/in clo...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Just when we all settle in to the Real Estate market and think that it's not going to change, it decides to fool us all.  There is not any fan fare about this, but I really feel that we are in the midst of a Real Estate market shift.  Homes that were selling for well above full price in a matter of days with multiple offers are now sitting and nobody is wanting to look.  Price reductions have become the norm as the number of buyers entering the market seems to be dwindling.  I have been through multiple market shifts in the past and this feels like what we expereienced when the shift began.  As I stated recently, these shifts are not suttle and change happens as fast as hitting the light switch.  How long and how deep this market shift becomes is anyones guess, but you can bet we won't be going back to the market we had in May and June of this year any time soon.  Also, the new home market is changing and here is an article from "Realtor.com" that addresses those changes.

The numbers: Building activity for new homes slumped in July, likely reflecting the continued supply constraints that construction firms faced nationwide.

U.S. home builders started construction on homes at a seasonally-adjusted annual rate of 1.53 million in July, representing a 7% decrease from the June’s upwardly-revised figure, the U.S. Census Bureau reported Wednesday.

Compared with July 2020, housing starts were up 2.5%; however, such year-over-year comparisons are still skewed by the effects of the onset of the COVID-19 pandemic.

Permitting for new homes occurred at a seasonally-adjusted annual rate of 1.64 million, up 2.6% from June and 6% from a year ago.

The figures for housing starts and permits are expressed as annual rates, meaning that’s the full amount of homes that would be built or permitted if builders maintained this pace of construction for a full year. Economists polled by MarketWatch had expected housing starts to occur at a pace of 1.59 million and building permits to come in at a pace of 1.61 million.

What happened: Housing starts declined for both single-family and multifamily projects. The South was the only region where new construction activity increased overall, with a 2.1% uptick. Meanwhile, in the Northeast, there was a 49% decline in housing starts on a monthly basis.

The increase in permitting was driven by an 11% jump in the number of multifamily buildings authorized, as the number of single-family homes that were permitted actually declined on a monthly basis. There was a high degree of regional variation in building permits, with the West seeing a 13% gain and the South seeing a 1.9% drop on a monthly basis.

There was also a 2.6% increase in the number of approved projects where construction had yet to begin.

The big picture: To some extent, the decline in housing starts might be a reflection of construction companies needing to pump the brakes a bit to match the pace of building activity to the availability of supplies and labor. The latest print of the home-builder confidence index from the National Association of Home Builders showed declines in the gauges that measure attitudes toward the state of present sales and foot traffic, but some analysts weren’t too negative on that news.

“We believe the slowdown in present sales is still more driven by supply constraints as builders have fewer homes to sell after robust demand and/or are intentionally slowing sales to match demand with production capacity,” analysts at investment bank BTIG wrote in a research note.

The pickup in permitting, meanwhile, is a positive sign in light of other indicators that suggest home buyers are souring on the housing market. For weeks ago, the number of mortgage applications submitted for loans to purchase homes has declined, according to data from the Mortgage Bankers Association.

“The big questions now are how much of the recent trends we are seeing in home sales and mortgage applications for home purchase are fundamental in nature, how much are just temporary corrections/consolidations, and how much are due to seasonal adjustment difficulties given that pandemic-related trends have been more important in the housing industry than normal seasonal patterns,” Joshua Shapiro, chief U.S. economist at financial consulting firm Maria Fiorini Ramirez, wrote in a research note Wednesday morning.

Shapiro argues that while the housing market is still going to be on relatively solid ground, it “is not going to be as red-hot going forward as it had been, nor is it going to continue to slide for very long like it has recently.”

What they’re saying: “Although residential construction has stepped back from March’s 15-year high, amid supply issues and elevated material costs, it continues to hold above pre-pandemic levels,” Michael Gregory, deputy chief economist at BMO Capital Markets, wrote in a research note.

“Builders pulled back on housing starts, wary of overcommitting on final new home prices in the face of volatile costs for land, materials and labor. However, permit applications and completed homes registered gains, a sign that expectations for the next months remain upbeat,” said Realtor.com senior economist George Ratiu.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

2941 Edgewater Dr, Eugene, OR 

Price: $1,150,000    Beds: 3    Baths: 4.0    Sq Ft: 3397

Don't miss this elegant 1-level executive home in a quiet cul-de-sac. Large covered patio w/ infrared ceiling heat & a gas fire table overlook a pond & waterfall making it a relaxing & private retreat. Spacious indoor/outdoor entertaining w/ Sonos s...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

Here is what took place in the Eugene and Springfield area housing market for the month of July 2021.  The strong sellers market continues and so does the increase in home prices.  Mortgage interest rates also continue to be at historic low levels.  It is certainly a great time to sell and home and with our current low mortgage interest rates, it remains an great time to buy a home.  I do beleive that change is on the horizon as I am beginning to see the signs of a softening housing market here.  The next couple of month will tell the story!  Here are the July numbers.

Residential Highlights

New listings (612) increased 8.1% from the 566 listed in July 2020, and decreased 3.3% from the 633 listed in June 2021.

Pending sales (518) decreased 10.5% from the 579 offers accepted in July 2020, and decreased 0.6% from the 521 offers accepted in June 2021.

Closed sales (499) decreased 7.6% from the 540 closings in July 2020, and decreased 3.3% from the 516 closings in June 2021.

Inventory and Market Time

Inventory increased to 0.8 months in July. Total market time increased to 20 days.

Year-To-Date Summary

Comparing the first seven months of 2021 to the same period in 2020, new listings (3,624) increased 6.2%, pending sales (3,099) increased 5.6%, and closed sales (2,803) increased 11.5%.

Average and Median Sale Prices

Comparing 2021 to 2020 through July, the average sale price has increased 20.7% from $349,700 to $422,000. In the same comparison, the median sale price has increased 20.0% from $325,000 to $390,000.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

3403 Timberline Dr, Eugene, OR 

Price: $625,000    Beds: 4    Baths: 3.0    Sq Ft: 2542

Beautifully updated SW Eugene home on a gorgeous landscaped lot. An abundance of windows & vaulted ceilings allow for natural light throughout the day. Kitchen has granite counters & newer stainless steel appliances. Large master suite with w/in clo...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!