Unusual Housing Market in Lane County
Good Monday Morning!
The statistics are in for home sales in the Eugene and Springfield area for the month of June. The numbers are interesting and they indicate a very unusual home market here. There is currently 6.8 months of active inventory of homes for sale on the market. This is substantially down from 20.6 months of inventory in January of this year. Remember, 6 months of active inventory is the middle of the road between a buyers market and a sellers market. The average time that it currenty takes a home to sell is 124 days and this is up considerabley from the 81 days it took a home to sell last June. The number of closed sales was off by 7% in comparison to June of last year and new listings were off by 22% compared to June of last year. The average sales price also was down by 7.3 % from the same time period in 2008. Our average sales price is now $228,500, which is down from last year as well.
These numbers indicate a continuation of our slowing Real Estate Market. The only significant change in the market is that the inventory of homes for sale way down. This indicates that home owners are becoming very reluctant to enter this market. The majority of the homes for sale are those that are having to sale and not those electing to sell. The market remains very attractive for buyers with 30 year mortgage interest rates now sub 5%. There are just a few less homes for them to chose from. For sellers the market is tough, but there is certainy less competition and this has brought about quick sales for those who price with the market.
Have An Awesome Week!
THIS WEEKS HOT HOME LISTING!
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3656 PLUMTREE DR, EUGENE, Oregon
Description: Very cute home in quiet neighborhood, with a great floor plan that shows off a spacious living room with fireplace, cute dining area & kitchen, lots of hall storage, 3 great bedrooms and 2 full ba .... |
