Eugene and Springfield Market Trends
Good Monday Morning!
What a surprise! We all woke up this morning to a bit of the white stuff on the ground. It looks like it may be here for a day or so. Drive safely!!
The December numbers are here for the Eugene and Springfield Real Estate market. Our trend of lower home invetories and falling prices continues.
For December 2011 closed home sales were exactly the same as for December of 2010 at 230 closed sales. Pending sales however increased by a whopping 28.8% over December of last year. The number of new listings hitting the market in December of 2011 fell 5.3% from December of last year.
Closed sales in December were up over November at 230 to 214, which is a 7.5% increase. Pending sales increased by 1.8% over the same time period. New listings were off by 30% in December over November.
In December there was 6.4 months of active home inventory on the market. This is substantially less than the 12.4 months of inventory that we saw in January of 2010. Also, remember that 6 months of inventory is the dividing line between a buyers and sellers market. Over 6 months is a buyers market and under is a sellers market. With low home inventories right now, if you are considering a home sale this year, "DO NOT MISS THIS CURRENT SHORT WINDOW OF OPORTUNITY"!
The average sales price coninued to decline and was off by 3.2% from December of 2010. The average sales price now stands at $199,100. The average time it took a home to sell in December 2011 was 130 days.
THIS WEEKS HOT HOME LISTING!
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7321 B Street
Nice family home with an open spacious living room and kitchen. Park-like backyard with trees and paths. Sunroom for entertaining. RV parking and fenced yard....
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
