Buyers market continues in the Eugene and Springfield area
Good Monday Morning!
The statistics are in for December of 2009 homes sales in the Eugene and Springfield area and also for the entire year of 2009. Looking at both December numbers and numbers for the years there was not any huge swings in the market. The one notable item though is that the overall trend remains as a declining housing market for this area. For December 2009 closed sales were up though and by a gain of 38.4% over December of 2008. Pending sales also saw an increase and were up by 24% over December 2008. New listings also saw an increase and were up by 26.9%. The average number of days it took for a home to sell in December was 118 days. The inventory of homes for sale hit 7.1 months, which remains clearly in the category of a buyers market. Remember 6 months of inventory is even betwen a buyers and sellers market, less is a sellers market and more is a buyers market.
For the year of 2009 closed sales were off by 1.3% from 2008 and pending sales were off by 3.3%%.
The market remains extremely divided as the majority of home sales continue to fall in the price ranges of below $250,000. The market above $400,000 is extremely tough and almost non-existent above $500,000. Don't look for any radical change with any of these trends in the next 12 to 18 months.
Have An Awesome Day!
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
