Good Monday Morning!

There are no major changes within the Eugene and Springfield area Real Estate market. Our local market remains fairly flat with some ups and downs but remains a strong sellers market with a very low inventory of homes on the market. Mortgage interest rates have improved some but continue to hover in that area of 6.5% to 7% for 30 year conventional financing. The price of homes for sale continues to increase, as it has for a long time now.  This trend is somewhat alarming because it continues to make homes in our area less affordable. For this current market to improve significantly, we need affordable homes. The cost of home ownership continues to be far too high for many. This is especially true for first-time home buyers. We are hoping for the home affordability issue to begin improving next year. Here are the home sales numbers for Lane County in November of 2024.

New Listings

New listings (245) decreased 21.7% from the 313 listed in November 2023, and decreased 38.8% from the 400 listed in October 2024.

Pending Sales

Pending sales (279) increased 18.2% from the 236 offers accepted in November 2023, and decreased 16.7% from the 335 offers accepted in October 2024.

Closed Sales

Closed sales (283) increased 14.6% from the 247 closings in November 2023, and decreased 6.9% from the 304 closings in October 2024.

Inventory and Time on Market

Inventory decreased to 2.9 months in November. Total market time increased to 61 days.

Year-to-Date Summary

Comparing the first eleven months of 2024 to the same period in 2023, new listings (4,669) increased 2.7%, pending sales (3,574) increased 4.5%, and closed sales (3,420) increased 2.7%.

Average and Median Sale Prices

Comparing 2024 to 2023 through November, the average sale price has increased 0.4% from $473,600 to $475,500. In the same comparison, the median sale price has increased 1.1% from $435,000 to $440,000.

Have An Awesome Week!

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

THIS WEEKS HOT HOME LISTING!

5369 Olympic Cir, Eugene, OR 

Price: $365,000    Beds: 3    Baths: 2.0    Sq Ft: 1646

Excellent location with completely fenced backyard and corner lot. Open floor plan with high vaulted ceilings. Large Primary Bedroom with spacious master bath and soaking tub. Spacious and open kitchen with island. Beautifully landscaped with gated... View this property >> 

 

AND HERE'S YOUR MONDAY MORNING COFFEE!!