Good Monday Morning!

The Real Estate market in Lane County continues to be below 2019 levels in numbers of new homes coming on the market and in home sales.  The one area that our local market continues to see increase is in home values.  With 2 months inventory of homes for sale, there are a few more homes for sale than last year, but at the price range of $400,000 and below, the inventory is low and homes sales are extremely active. In the price range of $300,000 and lower the inventory is extremely low and this part of the market is as hot as I have ever seen.  There are far more buyers than there are homes for sale in this price range.  The following statistics will show you how May of 2020 compared to the market we saw in May of 2019.

May Residential Highlights

New listings (485) decreased 30.2% from the 695 listed in May 2019, and increased 18.0% from the 411 listed in April 2020.

Pending sales (465) decreased 15.3% from the 549 offers accepted in May 2019, and increased 31.4% from the 354 offers accepted in April 2020.

Closed sales (311) decreased 34.9% from the 478 closings in May 2019, and decreased 2.5% from the 319 closings in April 2020.

Inventory and Market Time

Inventory held steady at 2.0 months in May. Total market time increased to 38 days.

Year-to-Date Summary

Comparing the first five months of 2020 to the same period in 2019, new listings (2,289) decreased 6.2%, pending sales (1,842) decreased 10.1%, and closed sales (1,539) decreased 13.1%.

Average and Median Sale Prices

Comparing 2020 to 2019 through May, the average sale price has increased 8.9% from $312,800 to $340,700. In the same comparison, the median sale price has increased 12.3% from $285,000 to $320,000.

Have An Awesome Week!

Stay Safe, Stay Healthy!!

THIS WEEKS HOT HOME LISTING!

4312 Cole Way, Springfield, OR 

Price: $229,000    Beds: 1    Baths: 1    Sq Ft: 880

Located close to Clearwater Park, this adorable home is perfect for easy living. Beautifully remodeled bathroom with quartz counters, freshly painted interior, new carpet in the loft/master bedroom, new LED lighting & a new roof in 2019. Concrete fl...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!