Latest Market Activity for November 2017
Good Monday Morning!
The month of November saw another strong showing for home sales in the Eugene and Springfield area. The inventory of homes for sale remained very low with just two months of inventory. Remember, 6 months of inventory is considered a very healthy market situation. Here are the November 2017 home sales statistics for Lane County from RMLS.
November Residential Highlights
Lane County saw gains this November compared to November 2016, despite some cooling from last month. New listings, at 345, ended 25.0% ahead of November 2016 (276) and were the best November for new listings in the county since 2009, when 355 were recorded.
Pending sales, at 366, outpaced November 2016 (327) by 11.9% despite a 23.3% decrease from October 2017 (477). Similarly, closed sales (394) saw a 4.8% increase over November 2016 (376) but a 7.9% decrease compared to last month in October 2017 (428).
Inventory in Lane County held steady in November at 2.0 months, with total market time increasing slightly to 45 days.
Year to Date Summary
Comparing the first eleven months in 2017 to the same period in 2016, new listings (6,142) have increased 3.4% and closed sales (4,808) have increased 0.8%, while pending sales (4,968) have decreased 0.9%.
Average and Median Sale Prices
Comparing 2017 to 2016 through November of each year, the average sale price rose 9.4% from $263,500 to $288,300. In the same comparison, the median sale price rose 9.9% from $236,500 to $260,000.
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