February 2010 Home Sales Statistics for Eugene and Springfield
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Good Monday Morning! Have you had enough rain? April showers bring May flowers you know! The statistics are in for February 2010 homes sales in the Eugene and Springfield market area. The sales statistics show a continuing changing market here. Closed sales were up by 22.6% over February of 2009. Most sales were in the price range of below $250,000, but there were slight gains in the upper end market. Pending sales also rose by a whopping 40.9% over February of last year. It appears that most of the increase in sales continues to be in the first time buyer area and most likely influenced by the $8,000 tax credit that ends on April 30 of this year. New listings were also up by a whopping 45% over February of last year. This has provided more homes for the increased numbers of home buyers. Inventories do remain low in many areas in the sub $200,000 range. The inventory of homes active on the market was at 10.9 months not only has this dropped from February of last year when it was at 13.1%, it also declined from January of this year when it was at 14.1%. Remember that inventory at 6 months is an even market and half way between a buyers and sellers market. At 10.9 months, we are clearly remaining in a buyers market. Even with increased sales activity, the average sales price continued to decline and now sits at $212,000. This is down 7.9% from February of last year. The combination of having lower home prices and mortgage interest rates at historical low levels gives home buyers what might be the best home buying opportunity they will see in their life time. Have An Awesome Week!
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