October 2010 Real Estate statistics for Eugene and Springfield
Good Monday Morning!
Is there some snow on the horizon for the Eugene and Springfield area? The weatherman is saying yes. Bundle up this week!
The Real Estate statistics are now in for the Eugene and Springfield area during the month of October. The news remains the same with the overall market continuing it's long term slump. Closed sales of homes fell 33.4% from October of 2009, with pending sales declining by 22.4% and new home listings falling 18.7% for that same period.
October 2010 numbers were also off from those in September with a decline in closed sales of 11.4%, pending sales were actually up by 6.2% and new listings were down by 9.3% from the previous month.
There is currently 10.8 months of active home inventory on the market. Remember, 6 months of inventory is the dividing point for a sellers and buyers market. We clearly remain in a strong buyers market.
The average sales price of homes in the Eugene and Springfield area continues with it's long decline as the average sales price of a home declined by 6.6% from October of 2009 and dropped 6.9% from September of this year. The average home price now sits at $202.900.
The bright spot is that mortgage interest rates remain extremely low, even though we saw a slight increase over the past week. If you are going to purchase a home this may be your best opportunity with home prices at a new low and interest rates now threatening to jump. My advice is don't wait any longer.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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2362 Sony Loop
Immaculate home with fun floor plan in wonderful neighborhood. Featuring a light & bright kitchen with eat bar, open dining area, large vaulted living room with slider to deck & backyard. Each bedroom is nicely sized, fresh paint & great storage. Th...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
