The Market
Good Monday Morning!
Eugene and Springfield area homes sales were off slightly in January. There were fewer closed sales in January of 2019 than in January of 2018. This could indicate the beginning of a flattening Real Estate market here. With mortgage interest rates down and a slightly higher inventory of homes on the market for sale, this also means an improved climate for homebuyers. The next several months will give us a better indication of what kind of Real Estate market 2019 will be. Here are the numbers for January 2019 home sales in the Eugene/Springfield area.
January Residential Highlights
Lane County started the year with some cooler activity relative to last January. New listings, at 371, ended 12.9% cooler than last year in January 2018, despite showing a 62.7% increase from last month in December 2018, when 228 newlistings were entered.
Pending sales fared similarly, cooling 18.4% from January 2018 (425) but warming 11.2% from December 2018, when 312 offers were accepted.
Closed sales, at 279, decreased 14.4% from January 2018 (326) and 17.7% from December 2018 (339).
Inventory rose in January to 2.2 months, with total market time decreasing by two days to end at 62 days during the same period.
Average and Median Sale Prices
Comparing the average price of homes ending January 31st of this year ($309,500) with the average price of homes sold in the twelve months ending January 2018 ($289,100) shows an increase of 7.1%. The same comparison of the median shows an increase of 8.8% over the same period.
Have An Awesome Week!
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