The Numbers are in: February 2014
Good Monday Morning!
The statistics show that our stronger Real Estate market in the Eugene and Springfield area is carrying through to Spring. Even though our market is better, there are certainly some warning signs on the horizon. The average sales price has jumped significantly since February of 2013. This along with the rise in mortgage interest rates makes it harder to purchase a home. This is especially true for first time home buyers. This could certainly lead to a slow down in purchase activity.
February Residential Highlights
January’s increase in pending sales ushered in a rise in closed sales this February in Lane County. The 214 closed sales represented a 22.3% increase over the 175 closings from January, although the number is two less (-0.9%) than last February’s 216. Pending sales (254) fell 12.4% from January’s 290 and 24.4% when compared to last February’s 336. New listings, at 351, fell on both counts as well—a 10.7% decrease compared to January’s 393 and a 22.9% decrease compared to last February’s 455. Overall, the year- to-date numbers for new listings, pending sales, and closed sales are slightly cooler than in 2013.
Total market time rose to 129 days in February, and inventory fell to 5.7 months.
Average and Median Sale Prices
Prices are steadily rising in Lane County. Comparing the average price of homes in the twelve months ending February 28th of this year ($227,200) with homes sold in the twelve months ending February 2013 ($203,100) shows an increase of 11.9%. In the same comparison, the median has increased 13.8% from $180,000 to $204,900.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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46080 MCKENZIE HWY
Adorable home on 0.65 acre lot! Wonderful park-like setting with huge yard, patio area and views of the mountains. Great shop with workbench, cabinets, can be 2nd residence. 3 bay carport with storage space in roof. 200sqft shed with attached dry co...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!
Sincerely,
Galand
