Number Of Homes Going On The Market Increase Although Inventory Remains Low
Good Monday Morning!
The Real Estate market in the Eugene and Springfield area remains robust. The number of homes going on the market for sale has continued to increase, but sales activity is so active that the inventory level remains extremely low. As with most of the country home values remain in an inflationary state and continue to increase with demand. Mortgage rates for the most part remain stable and low. Change is on the horizon as inflation expands with most consumer goods at high levels. An overall decline in our national economy is on the horizon unless inflation can be kept in control. Here are the statistics for home sales in Lane County for May of 2021.
New listings (608) increased 25.4% from the 485 listed in May 2020, and increased 16.3% from the 523 listed in April 2021.
Pending sales (554) increased 19.1% from the 465 offers accepted in May 2020, and increased 21.2% from the 457 offers accepted in April 2021.
Closed sales (394) increased 26.7% from the 311 closings in May 2020, and increased 6.5% from the 370 closings in April 2021.
Inventory and Market Time
Inventory held steady at 0.7 months in May. Total market time decreased to 15 days.
Year-To-Date Summary
Comparing the first five months of 2021 to the same period in 2020, new listings (2,345) increased 2.4%, pending sales (2,096) increased 13.8%, and closed sales (1,758) increased 14.2%.
Average and Median Sale Prices
Comparing 2021 to 2020 through May, the average sale price has increased 18.6% from $340,700 to $404,100. In the same comparison, the median sale price has increased 17.2% from $320,000 to $375,000.
Have An Awesome Week!
Stay Healthy! Stay Safe! Remain Positive! Trust in God!
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
