The Numbers are in: April 2014
Good Monday Morning!
The Eugene and Springfield Real Estate market has cooled down some and the statistics for April 2014 indicate that the market could be headed on a downward trend. New listing were up at the same time that sales have slowed. The average sales price also continues to increase. More inventory of homes on the market, heavier competition and longer number of days on the market are danger signs for a slowing market. Time will tell, but don't look for 2014 to be the robust market that we saw in 2013. This means that if you are selling a home, you need to be very conservative with your home pricing.
April Residential Highlights
April continued to see a seasonal increase in real estate activity in Lane County. The 594 new listings this April represented a 9.2% increase from last April’s 544, and a 14.2% increase from March’s 520. It was the best April for new listings in Lane County since 2010, when there were 691. Closed sales (294) were up 12.2% compared to March but down 4.9% when compared to April 2013. Pending sales, at 356, fell 3.0% from March’s 367 and 12.1% compared to last April.
Total market time increased to 115 days in April, and inventory stayed steady at 4.9 months.
Year to Date Summary
Lane County’s real estate activity has cooled slightly in the first four months this year compared to 2013.
New listings (1,893) have increased by 3.0% over 2013, but pending sales (1,234) and closed sales (960) have decreased 5.3% and 5.6%, respectively, from the first four months of 2013.
Average and Median Sale Prices
The average price so far in 2014 was $225,200, up 6.3% from the same period of 2013, when the average was $211,900. In the same comparison, the median has risen 8.0% from $188,000 to $203,100.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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141 KOURT DR
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
