Good Monday Morning!

Change in the Eugene and Springfield housing market is picking up steam. Novemeber Real Estate numbers show that our local market continues to slow. What stands out is that home sales and new pending home sales continue to decline as the number of new homes hitting the market also continue in decline. The odd thing is that even with fewer sales and fewer homes hitting the market, home prices remain on the rise. The other unusual statistic is that the inventory of available homes for sale has also increased. The next few months could prove to be interesting! Here are the home sales statistics for November 2022.

Residential Highlights

New listings (254) decreased 20.9% from the 321 listed in November 2021, and decreased 28.9% from the 357 listed in October 2022.

Pending sales (207) decreased 47.2% from the 392 offers accepted in November 2021, and decreased 28.1% from the 288 offers accepted in October 2022.

Closed sales (258) decreased 37.2% from the 411 closings in November 2021, and decreased 29.1% from the 364 closings in October 2022.

Inventory and Market Time

Inventory increased to 2.1 months in November. Total market time increased to 36 days.

Year-To-Date Summary

Comparing the first eleven months of 2022 to the same period in 2021, new listings (5,200) decreased 7.0%, pending sales (4,181) decreased 14.7%, and closed sales (4,293) decreased 8.4%.

Average and Median Sale Prices

Comparing 2022 to 2021 through November, the average sale price has increased 9.9% from $433,600 to $476,600. In the same comparison, the median sale price has increased 10.2% from $396,000 to $436,500.

Have An Awesome Week!

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

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AND HERE'S YOUR MONDAY MORNING COFFEE!!