The Housing Market in Eugene and Springfield
Good Monday Morning!
The housing market in the Eugene and Springfield area saw some bright spots for 2012, but ended the year with some slightly declining numbers. In December of 2012 there were 243 closed home sales in Lane County. The good news is that this was a 5.7% increase over December of 2011. The decline came from new pending sales which were down in December of 2012 over December of 2011 by 13.6%. New listings were also down for the two comparable months by 22.1%. There is currently only 5.2 months of housing inventory on the market, which pushes the Lane County area even further into a market favoring sellers. The average sales price for December of 2012 was $200,700. For the year 2012 the average sales price ws $200,900. This is just slightly down from 2011, which had an average home sales price of $202,500.
What does all of this really mean? These numbers indicate a fairly flat Real Estate market in Lane County where prices and number of home sales are not seeing any huge changes. Pricing is very steady and even though the overall numbers for December showed a dip, the number of closed trnsactions for 2012 were certainly improved over 2011. The largest change is with the inventory numbers. The overall inventory of homes for sale in the Eugene and Springfield area has continued to decline, which if this trends persists it will lead to home price increases. With mortgage interest rates holding at historic low levels, don't look for any trend changes in the immediate future. If mortgage interest rates were to begin climbing look for the local housing market to trend downwards again. 2012 will be an interesting year and the strength of the local housing market will certainly depend on two major factors, the strength of the local/national economy and mortgage interest rates.
Have An Awesome Week!
THIS WEEKS HOT INVESTMENT PROPERTY!
  |
1685 High St
Multifamily property in great location! 1685 is detached unit with 1 bed, 1 bath. 1695 is 2 bed, 1 bath basement unit with fireplace. 309 is a 4 bed, 2 bath, 2-level unit with fireplace, front porch and deck. All 3 units have had some updating. Loca...
|
AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
