Good Monday Morning!

Home sales in the Eugene and Springfield area decreased in November of 2023. This is a continuation of the trend we have seen over the past several months. The cause of the slump continues to be the same conditions, higher mortgage interest rates, a sagging economy, low inventory of homes for sale and lack of consumer confidence. As of late, mortgage interest rates have trickled down slightly. If we can see a continuation of declining mortgage interest rates, we may see our local housing market begin to rebound. Here are the Eugene and Springfield area home sales statistics for November 2023.

New Listings

New listings (313) increased 23.2% from the 254 listed in November 2022, and decreased 15.9% from the 372 listed in October 2023.

 

Pending Sales

Pending sales (236) increased 14.0% from the 207 offers accepted in November 2022, and decreased 21.1% from the 299 offers accepted in October 2023.

Closed Sales

Closed sales (247) decreased 4.3% from the 258 closings in November 2022, and decreased 15.1% from the 291 closings in October 2023.

Inventory and Time on Market

Inventory increased to 2.9 months in November. Total market time increased to 52 days.

Year-to-Date Summary

Comparing the first eleven months of 2023 to the same period in 2022, new listings (4,546) decreased 12.6%, pending sales (3,421) decreased 18.2%, and closed sales (3,331) decreased 22.4%.

Average and Median Sale Prices

Comparing 2023 to 2022 through November, the average sale price has decreased 0.6% from $476,600 to $473,600. In the same comparison, the median sale price has decreased 0.3% from $436,500 to $435,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

82499 Rattlesnake Rd, Dexter, OR 

Price: $565,000    Beds: 3    Baths: 2.0    SqFt: 2260

View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!