Monday Morning Real Estate Update 12/18/06
It was sure nice to see the sun this past weekend. It helped make up for the storm that hit us earlier in the week.
The numbers are in for October and it looks like the Real Estate market in the Eugene and Springfield area is not as poor as many would like to think. There were 603 new listings that hit the market compared with 524 for October of 2005. There were 370 homes that hit pending sale status and this is compared to 427 for October of 2005. There was 386 closed home sales and this is compared to 455 for October of 2005. The average sales price was $259,400 compared with $243,400 for October of 2005. In October of 2005 there was 2.8 months of inventory of homes on the market and for October of this year that inventory number was 3.8 months. Remember, the market technically shifts from a sellers market to a buyers market at 6 months of inventory.
Year to date new listing have increased by 12.1% and closed sales have decreased by 8.5%. The interesting fact is that with the slight market downturn, home prices continue to escalate.
Have An Awesome Week!
