Good cold and icy Monday Morning!

Overall, home sales in Lane County were off in December of 2023. A sluggish housing market remained in place, even with slightly lower mortgage interest rates. We saw a short spurt of activity in early December fade as we approached the Holidays. What will 2024 bring? There is a potential for a much improved housing market in Lane County if mortgage interest rates decline further and the Fed remains steady or even drops rates. This is an unknown presently and only time will tell. The overall economy needs to improve as well and inflation numbers need to decline. Without all of these pieces falling in place, don’t look for any substantial changes in our local housing market. The following is a look at home sales in Lane County for December 2023.

New Listings

New listings (177) increased 1.1% from the 175 listed in December 2022, and decreased 43.5% from the 313 listed in November 2023.

Pending Sales

Pending sales (208) increased 5.6% from the 197 offers accepted in December 2022, and decreased 11.9% from the 236 offers accepted in November 2023.

Closed Sales

Closed sales (215) decreased 8.1% from the 234 closings in December 2022, and decreased 13.0% from the 247 closings in November 2023.

Inventory and Time on Market

Inventory decreased to 2.7 months in December. Total market time decreased to 50 days.

Year-to-Date Summary

Comparing the twelve months of 2023 to the same period in 2022, new listings (4,738) decreased 12.0%, pending sales (3,614) decreased 27.5%, and closed sales (3,561) decreased 21.5%.

Average and Median Sale Prices

Comparing 2023 to 2022 through December, the average sale price has decreased 1.0% from $475,400 to $470,600. In the same comparison, the median sale price has decreased 0.7% from $436,000 to $432,900.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

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Price: $445,000    Beds: 3    Baths: 2.5    SqFt: 1888

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AND HERE'S YOUR MONDAY MORNING COFFEE!!