May 2012 - Real Estate Statistics
If you were at the Olympic trials in Eugene this past weekend you saw some of the greatest runners in the world compete and even a new world record. Even though the weather was a little tough at times it was an exciting place to be. There is a lot more to come!
The statistics are in for the month of May and they certainly indicate that the housing market here in the Eugene and Springfield area continues on a trend of improvement. New listings were up 5.9% from May of 2011 and up 12.4% from April of this year. Pending home sales were up 2.7% from May of 2011 and 5.5% from the previous month. May saw 295 closed home sales and this was up by 10.1% from May of 2011 and a whopping 24.5% from April of this year. The big news is that there is currently 5.8 month of active home inventory. This is compared to 6.9 months in April and 7.6 months for May of 2011. The important fact here is that 6 months of active inventory is the dividing point between a sellers and buyers market. We have clearly been in a buyers market now for several years. We have now just cossed over to a sellers market. This is big news and it will be interesting to watch this trend over the next several months. For anyone considering the purchase of a home this means that home prices could begin to increase.
The average sales price in May of 2012 was $199,400 and the average time it is currently taking for a home to sell is 121 days.
Have An Awesome Week!
THIS WEEK'S HOT HOME LISTING!
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1170 Echo Hollow Rd
Tons of ageless and modern charm! Featuring hardwood floors, high ceilings, large windows and nice updates on a well-sized lot. Living room with fireplace, built-ins, family room with double doors, dining room with storage and slider. Large updated ...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
