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Latest Market Activity for March 2018

by Galand Haas

Good Morning!


March home sale numbers are in for the Eugene and Springfield area and the sellers market trend continues.  The inventory of homes for sale actually decreased from February, which is not normal and home prices continue to increase.  This is not the best news for homebuyers, but continued good news for homesellers. My caution here is that with mortgage interest rates up and the continued increase in home prices, there will be a point where this market will shift and make a correction.  That time could be sooner than later.  Here is the March 2018 homes sales report.


March Residential Highlights


March brought gains nearly across the board in Lane County, with closings taking an impressive lead. Closed sales (404) ended 13.8% ahead of March 2017 (355) and 36.9% ahead of February 2018 (295). It was the strongest March for closings in the county since 2006, when 409 were recorded.


Pending sales (489) edged 2.3% ahead of March 2017 (478) and outpaced February 2018 (392) by 24.7%.


New listings, at 531, fell six short of last year in March 2017 (537, -1.1%) but warmed 42.7% from last month in February 2018 (372).


Total market time decreased by three days to end at 61 days this March, with inventory creeping downward to 1.4 months.



Average and Median Sale Prices


Comparing the average price of homes in the twelve months ending March 31st of this year ($292,800) with the average price of homes sold in the twelve months ending March 2017 ($268,000) shows an increase of 9.3%. The same comparison of the median shows an increase of 10.4% over that same period.



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THIS WEEK'S HOT HOME LISTING

 Wedgewood Dr

List Price: $330,000     Beds: 3    Baths: 2.5    Sq. Ft.:1,855

Fabulous one-level home in desirable Santa Clara neighborhood! Spacious 0.22 acre lot on lovely low-traffic street. Living room w/ fireplace. Large galley kitchen w/ pantry. Dining/Family room combination w/ fireplace. Large private master suite w/ 2 closets & access to back. Laundry room w/ half bath.  Well-manicured lawns w/ sprinklers, fence backyard, covered deck & patio, & tool shed. Only 5 minute drive to schools, stores & park... View property

 


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Latest Market Activity for February 2018

by Galand Haas

Good Monday Morning!


The Real Estate market in the Eugene and Springfield area shows no sign of change.  Home sales remain strong and the inventory of homes for sale remains extremely low.  The inventory is critically low in the price ranges for first time buyers from $150,000 to $300,000.  The cost of homes in our area also continues to increase and the inventory of affordable brand new housing is close to non-existant.  Mortgage intereste rates dropped slightly and are now at around 4.4% for 30 year fixed financing. Here is the report for February 2018.

Lane County saw mixed activity this February, but most measures were ahead of February 2017. Closed sales (295) outpaced February 2017 (247) by 19.4% but fell 9.5% short of the 326 closings recorded last month in January 2018. It was the strongest February for closings in Lane County since 2007, when 305 were recorded. 

 

Similarly, pending sales (392) rose 6.2% ahead of the 369 offers accepted in February 2017 but fell 7.8% short of the 425 offers accepted last month in January 2018. 

 

New listings, at 372, were 5.3% short of the 393 new listings recorded last year in February 2017 and 12.7% short of the 426 new listings recorded last month in January 2018. 

 

February saw total market time decrease by two days to end at 64 days. Inventory crawled slightly upward in the same month, ending at 1.8 months. 

 

Average and Median Sale Prices 

Comparing the average price of homes in the twelve months ending February 28th of this year ($290,400) with the average price of homes sold in the twelve months ending February 2017 ($265,900) shows an increase of 9.2%. The same comparison of the median shows an increase of 10.5% over that same period.

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THIS WEEK'S HOT HOME LISTING!

798 70th St 

$245,000  Beds: 3   Baths: 2   Sq. Ft.: 1,395

Spacious corner lot in Thurston area. This 3 bedroom, 2 bathroom home has new furnace & water heater, mountain view & vinyl windows. Sunken living rm w/ pellet stove insert. Kitchen w/ eating bar & pantry opens to large dining area. Laundry rm. Cove... 

View this property >> 



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Latest Market Activity for January 2018

by Galand Haas

Good Morning!

The Real Estate market in the Eugene and Springfield area was stronger in January of 2018 than in January of 2017.  Both sales and new listings were up.  The inventory of homes on the market remains low at 1.7 months and critically low in the first time buyer price ranges of $250,000 and below.  Here are the home sale statistics for January 2018.


January Residential Highlights 

January brought waves of warm real estate activity to Lane County, almost across the board. Pending sales (425) outpaced January 2017 (318) by 33.6% and December 2017 (309) by 37.5%. This is the strongest January for pending sales in Lane County on the RMLSTM record, dating to 2001. 

New listings, at 426, ended 33.1% stronger than in January 2017 (320) and 91.0% stronger than last month in December 2017 (223). 

 

There were 326 closed sales, faring 19.4% better than last year in January 2017 (273) but cooling 12.1% compared to December 2017 when 371 closings were recorded. 

 

Inventory held steady in January at 1.7 months, and total market time increased by four days to end at 66 days. 

Average and Median Sale Prices 

Comparing the average price of homes in the twelve months ending January 31st of this year ($289,100) with the average price of homes sold in the twelve months ending January 2017 ($264,800) shows an increase of 9.2%. The same comparison of the median shows an increase of 10.1% over that same period. 

 

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THIS WEEK'S HOT HOME LISTING!

 

 

6655 A ST

Price: $199,900

Beds: 2

Baths: 1

Sq Ft: 1078

Cute 1-level home in desirable Thurston neighborhood. Well-maintained home features updated drs & vinyl windows. Large living rm w/ wood-insert fireplace. Galley-style KIT w/ French door leads to utility rm. Open dining area w/ sliding dr. Large cro... 

View this property >> 



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2018 Housing Forecast

by Galand Haas

Good Monday Morning!

2018 has started out to be a challenging year for homebuyers in the Eugene and Springfield market area.  The issue with the current market is certainly not demand.  Our current home market problem stems from lack of inventory of homes for sale.  This is especially true in the price ranges of below $300,000, where the high demand for housing exists.  With a current inventory of less that 1.6 months, this shortage has left hundreds of would-be home buyers out in the dark.  The lack of inventory and high demand has created such a shortage that when a home comes on the market that is priced well in the price range of high demand, there is typically a bidding war taking place.  This of course is leading to the situation where many homes are now selling for above asking price.  If this trend continues in 2018, it could be a challenging market for buyers.

For anyone thinking about selling a home, this is a dream market.  In close to 30 years of selling homes in the Eugene/Springfield market area, I have never witnessed this strong of a sellers market.  This is a market that clearly has demand outpacing supply.  My suggestion to anyone in the Eugene/Springfield area who is considering the sale of their home is to get it on the market now.  January through April should be the kind of market that home sellers of the past could only dream about.

Have An Awesome Week!



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Latest Market Activity for December 2017

by Galand Haas

Good Monday Morning,

As you can see from the following statistics, the Real Estate market in the Eugene and Springfield area remains very strong.  The largest obstacle at this time is that there is only 1.7 months of active inventory of homes for sale. This is critically low number and it is creating a shortage of affordable homes for would-be buyers.  For anyone considering the sale of their home, there just could not be a better market.  If you are considering the sale of your home, don't wait, get your home on the market "NOW" and take advantage of this very strong sellers market. Here are December's Lane County home sales numbers.

December Residential Highlights

Lane County saw increases across the board this December compared to 2016 despite some cooling from last month. New listings (223) ended 3.7% ahead of December 2016 (215) but fell 35.4% sort of the 345 new listings o ered last month in November 2017.

Pending sales (309) fared similarly, increasing 24.1% from the accepted o ers recorded in December 2016 (249) but falling 15.6% short of the 366 offers accepted last month in November 2017.

Closed sales (371) ended one ahead of the 370 sales recorded last year in December 2016 (0.3%) but were 5.8% short of the 394 closings recorded last month in November 2017.

Year to Date Summary

Activity ended slightly ahead in 2017 compared to 2016. Comparing the entirety of each year, new listings (6,390) increased 3.5%, closed sales (5,204) increased 0.8%, and pending sales (5,254) increased 0.2%.

Average and Median Sale Prices

Comparing all of 2017 to 2016, the average sale price rose 9.2% from $263,700 to $287,900. In the same comparison, the median sale price rose 9.7% from $237,000 to $260,000.


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Latest Market Activity for November 2017

by Galand Haas

Good Monday Morning!

The month of November saw another strong showing for home sales in the Eugene and Springfield area.  The inventory of homes for sale remained very low with just two months of inventory.  Remember, 6 months of inventory is considered a very healthy market situation.  Here are the November 2017 home sales statistics for Lane County from RMLS.

November Residential Highlights

Lane County saw gains this November compared to November 2016, despite some cooling from last month. New listings, at 345, ended 25.0% ahead of November 2016 (276) and were the best November for new listings in the county since 2009, when 355 were recorded.


Pending sales, at 366, outpaced November 2016 (327) by 11.9% despite a 23.3% decrease from October 2017 (477). Similarly, closed sales (394) saw a 4.8% increase over November 2016 (376) but a 7.9% decrease compared to last month in October 2017 (428).

Inventory in Lane County held steady in November at 2.0 months, with total market time increasing slightly to 45 days.

Year to Date Summary

Comparing the first eleven months in 2017 to the same period in 2016, new listings (6,142) have increased 3.4% and closed sales (4,808) have increased 0.8%, while pending sales (4,968) have decreased 0.9%.

Average and Median Sale Prices

Comparing 2017 to 2016 through November of each year, the average sale price rose 9.4% from $263,500 to $288,300. In the same comparison, the median sale price rose 9.9% from $236,500 to $260,000. 


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THIS WEEK'S HOT HOME LISTING!

Image Unavailable
Price: $379,000 Beds: 3 Baths: 1 ½ Baths: 1 Sq Ft: 1890
Rustic Tuscan country-style charm! Terra Cotta tile, wood flr, rustic dr & window wood trim, steel beams, large windows. Remodeled kitchen w/ ship lap feature wall, galvanized metal backsplash, butchers block countertop & eating bar. Kitchen opens t...View this property >>


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Latest Market Activity for October 2017

by Galand Haas

Good Monday Morning!

October home sales in the Eugene and Springfield are were down seasonally, but remain strong and above October 2016 home sales.  Here are the October 2017 statistics.

October Residential Highlights

Lane County saw some mixed activity in October, but numbers are up across the board compared to October 2016. Pending sales (477) showed a 14.4% increase over October 2016 (417) and a 3.7% increase compared to last month in September 2017 (460). It was the strongest October for pending sales in Lane County since at least 2001!

New listings, at 446, increased 23.5% compared to October 2016 (361) but fell 14.9% short of the 524 new listings entered just last month in September 2017.

Closed sales fared similarly—at 428 in October, closings increased 6.5% from October 2016 but decreased 7.6% from last month in September 2017.

Year to Date Summary

Comparing the first ten months in 2017 to the same period in 2016, new listings (5,782) have increased 2.3%, closed sales (4,368) have remained steady, and pending sales (4,629) have decreased 1.9%.

Average and Median Sale Prices

Comparing 2017 to 2016 through October of each year, the average sale price rose 9.5% from $263,200 to $288,200. In the same comparison, the median sale price rose 10.6% from $235,000 to $260,000. 


HAVE AN AWESOME WEEK!

Image Unavailable
Price: $595,000 Beds: 3 Baths: 2 Sq Ft: 2000
Horse property only 5 mins from town! Nearly 6 level acres, backs up to canal & great for trail riding along Amazon. Wonderfully updated home with 2-car garage. 1 bedroom guest house w/ carport has income producing potential. 2 barns w/ 11 stalls, i...View this property >>


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This Month in Real Estate October 2017

by Galand Haas

Good Morning!

Change could be on the horizon for the national Real Estate market. Nationally, home sales dipped last month and the cost of housing also followed suit. After a very long run of escalating home sales and prices, this could signal a slow down. There is no question that flat markets or dips occur after hot markets. Whether this will be a long term trend or just a temporary blip in the market is yet to be seen.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-In-Real-Estate-October-2017

THIS WEEKS HOT HOME LISTING!

Image Unavailable
36946 PARSONS CREEK RD
Price: $389,900 Beds: 3 Baths: 1 Partial Baths: 1 Sq Ft: 1890
Rustic Tuscan country-style charm! Terra Cotta tile, wood flr, rustic dr & window wood trim, steel beams, large windows. Remodeled kitchen w/ ship lap feature wall, galvanized metal backsplash, butchers block countertop & eating bar. Kitchen opens t... View this property >>

 


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Latest Market Activity for September 2017

by Galand Haas

Good Monday Morning!

September home sales in the Eugene and Springfield market area cooled slightly, but the overall home sale market remains good.  The inventory of homes for sales remains low at just 2.1 months of inventory.  Even with the onset of Fall, the Real Estate market remains favorable for sellers and maybe slightly improved for homebuyers.  Here are the statistics for September 2017.

Lane County saw some cooler numbers this September, but new listings did gain compared to last year. At 524, new listings rose 7.4% compared to September 2016 (488) despite cooling 22.9% compared to last month in August 2017 (680).

Pending sales, at 460, decreased 2.1% compared with the accepted o ers recorded last year in September 2016 (470) and 12.4% compared with accepted offers recorded last month in August 2017 (525).

Closed sales, at 463 in September, ended 5.1% below the 488 closings in September 2016 and 10.8% below the 519 closings last month in August 2017.

Inventory rose slightly to 2.2 months in September, and total market time rose to 50 days in the same period.

Year to Date Summary

Comparing the first nine months in 2017 to the same period in 2016, new listings (5,321) have increased 1.0%, closed sales (3,917) have remained steady, and pending sales (4,179) have decreased 3.5%.

Average and Median Sale Prices

Comparing 2017 to 2016 through September of each year, the average sale price rose 10.3% from $261,300 to $288,300. In the same comparison, the median sale price rose 10.6% from $235,000 to $260,000. 

Have An Awesome Week!

THIS WEEK'S HOT HOME LISTING!

Image Unavailable
927 S. 58th Street
Price: $325,000 Beds: 3 Baths: 2 Sq Ft: 1522
Beautiful brand new home from builder Gary Konold. One level home features CORETec floors, granite counters, vaulted/high ceilings, gas fireplace & Great Room. Dining area w/ slider, kitchen w/ SS appliances, recessed lighting & peninsula with eatin...View this property >>

 


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Housing Shortage Effects Home Prices

by Galand Haas

Good Morning!

If you are interested in what is taking place with our national housing market, the following article will give you a good idea as to what is taking place.  This article from "Realtor.com", talks about the shortage of homes for sale and the effect it is having on home prices.

It's anyone's guess just how much higher home prices will go—and if they'll ever slow down. Besides, if you could see the future, wouldn't you rather focus your energies on predicting the winning lottery numbers?

Nationally, the median existing-home price for single-family abodes zoomed up to $255,600 in the second quarter of the year, according to the new quarterly report from the National Association of Realtors®. (Existing homes are previously lived-in residences as opposed to newly built abodes.) That was up 10.1% from the first quarter of the year and represented a 6.2% rise from the second quarter of last year.

Prices are continuing their steady climb because there simply aren't enough homes on the market to go around. As the economy has improved, more people who held off on becoming homeowners or trading up to bigger, better abodes are getting into the market. "Household incomes may be rising and giving consumers assurance that now is a good time to buy," NAR Chief Economist Lawrence Yun said in a statement. "But these severe inventory shortages will likely continue to be a drag on sales potential the second half of the year."

The cost of buying a single-family home increased in about 87% of the metros that NAR looked at. Prices dropped in just 23 markets.

That might explain why sales of all existing homes, which include both single-family residences and condos, fell 0.9% in the second quarter. They hit 5.57 million, according to the seasonally adjusted numbers in the report.

"With new supply not even coming close to keeping pace, price appreciation remained swift in most markets," Yun said. "An increasing share of would-be buyers are being priced out of the market and are unable to experience the wealth-building benefits of homeownership."

Even the median prices of lower-priced condos and co-ops shot up to $239,500. That's up nearly 9.5% from the first quarter of 2017 and represented a 5.4% rise from the second quarter of last year. Sorry, buyers.

The most expensive metros were, unsurprisingly, primarily in California. Silicon Valley's San Jose topped the list with a median price of$1,183,400 for a single-family, existing home, according to the report.

Silicon Valley buyers are "commonly very well-to-do people in their mid-20s to mid-40s. Most typically are working in high tech," says Realtor® Avi Urban of Keller Williams Palto Alto. "Many of them are making enormous amounts of money."

But prices fluctuate during the year depending on the season as well as the local job market, he says.

"As long as the Silicon Valley economy is doing well, I do not expect prices to go down," Urban says. "I expect prices to continue with more gradual, moderate appreciation."

San Jose was followed by its neighbor to the north, San Francisco, at $950,000; Anaheim, CA, at $788,000; Honolulu, at $760,600; and San Diego, at $605,000.

Meanwhile, the cheapest metros were Youngstown, OH, at $87,000; Cumberland, MD, at $98,200; Decatur, IL, at $107,400; Binghamton, NY, at $109,000; and Elmira, NY, at $111,600.

 Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

Image Unavailable
87716 ERDMAN WAY
Price: $309,900 Beds: 4 Baths: 2 Sq Ft: 1850
Seclusion & privacy! 360 degree tree views on level 5.04 acres. Land is subdividable; potential for multiple dwellings. City water plus well. 2 septic systems. RV parking, huge lawn, lg deck, + small wildlife & deer sightings. Spacious 1-owner manuf...View this property >>

 


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Displaying blog entries 1-10 of 38

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Photo of Galand Haas Team  Real Estate
Galand Haas Team
Keller Williams Realty Eugene and Springfield
2644 Suzanne Way
Eugene OR 97408
Direct: (541) 349-2620
Fax: 541-687-6411

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