March 2010 Real Estate Market Statistics For Eugene and Springfield
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Good Monday Morning! It was certainly a great weekend in Eugene for sports enthusiasts. The Spring Oregon Duck football game, several Duck baseball games, the relays and and the Eugene marathon. Wow! Sports town USA! The statistics are in for Real Estate sales during the month of March and they clearly show an improving market. The average months of active home inventory was at 7.8 months and this was down from 9.7 months in March of 2009. Remember, 6 months of inventory is an even market, below that level is a sellers market and above a buyers market. Closed sales were up again and were at an increase of 39.6% from March of 2009. Pending sales also were up significantly at 51% from March of last year. New listings were also up significantly at 45.7% over last march. The average sales price was up slightly over February, but down considerably from March of 2009 with a decrease of 6.9%. It looks like we are experiencing a small bubble in sales activity. Most activity remains in the lower price ranges and pricing pressure remains high with large numbers of foreclosed homes and short sales still hitting the market. Don't expect this trend to end any time soon. Have An Awesome Week! THIS WEEKS HOT HOME LISTING!
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