Good Monday Morning!

There were no significant changes in the Eugene and Springfield Real Estate market in May of this year. All categories were down from May of 2022, including sales, listings and home prices. These same categories with the exception of home prices were up from April of 2023 though, this includes a slight increase in the number of homes on the market. Any relief at all from higher mortgage interest rates would most likely put our local market back on a significant rebound. At this time this scenario looks unlikely though as the Fed is most likely going to announce another rate increase this week. Many economists feel that another rate increase by the Fed at this time is a huge mistake and could put the national housing market further into a tail spin. Let's hope for the best! Here are the home sales numbers for Lane County for the month of May 2023.

New Listings

New listings (439) decreased 27.4% from the 605 listed in May 2022, and increased 14.6% from the 383 listed in April 2023.

Pending Sales

Pending sales (372) decreased 23.1% from the 484 offers accepted in May 2022, and increased 9.7% from the 339 offers accepted in April 2023.

Closed Sales

Closed sales (291) decreased 31.5% from the 425 closings in May 2022, and increased 2.5% from the 284 closings in April 2023.

Inventory and Time on Market

Inventory increased to 1.7 months in May. Total market time decreased to 34 days.

Year-to-Date Summary

Comparing the first five months of 2023 to the same period in 2022, new listings (1,833) decreased 24.0%, pending sales (1,564) decreased 24.9%, and closed sales (1,320) decreased 27.7%.

Average and Median Sale Prices

Comparing 2023 to 2022 through May, the average sale price has decreased 2.7% from $473,000 to $460,300. In the same comparison, the median sale price has decreased 0.7% from $433,000 to $430,000.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

35243 Mckennzie View Dr, Springfield, OR 

Price: $824,900    Beds: 4    Baths: 2.5    SqFt: 1917

Absolutely gorgeous home and setting 10 minutes from town. Entire home has been updated with no spared expense and thought for the highest quality and extra attention to detail. Enjoy the park-like setting with trees, wildlife and amazing views of t...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!