Real Estate Information Archive

Good Monday Morning!

The Real Estate market in the Eugene/Springfield area remains strong as evidenced by the following report.  The interesting fact is that inventories of new homes hitting the market remain low and homes prices remain steady.  This could point to a flattening market for the remainder of the year. Here is the February 2016 report.

February Residential Highlights

February brought strong numbers to pending and closed sales in Lane County. Closings (284) rose 37.9% above the 206 closings posted last year in February 2015 and 9.2% above the 260 closings posted last month in January 2016. The last February that saw stronger closings in Lane County was in 2007, when 305 closings were posted for the month.

Pending sales (420) rose 14.1% over the 368 offers accepted in February 2015 and 27.3% over the 330 offers accepted in January 2015. This is the strongest February for pendings in Lane County since at least 2001! The February with the previous record was in 2006, with 408 offers accepted for the month.

New listings (416) decreased 10.9% from February 2015 (467) and fell short (-1.0%) of the 420 new listings offered in January 2016.

Average and Median Sale Prices

Comparing the average price of homes in the twelve months ending February 29th of this year ($244,200) with the average price of homes sold in the twelve months ending February 2015 ($235,700) shows an increase of 3.6%. The same comparison of the median shows an increase of 4.2% over that same period.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2685 Valley Forge Dr

Price: $509,900    Beds: 3    Baths: 2    Half Baths: 1    Sq Ft: 2302

Anslow & DeGeneault 2015 Tour of Homes model home. Gas forced air 92% efficiency, exquisite single level, located in beautiful Hawthorne Estates. Easily entertain in Great Rm overlooking backyard. Escape to luxurious owner's ste w/ tray ceilin...View home for sale >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

A strong Real Estate market continues on here in the Eugene and Springfield area.  Home sales in January were strong and it appears that the market is going to continue strong going into the first quarter of 2016.  Here is the January 2016 home sales report for Eugene, Springfield and Lane County.

Lane County saw strong pending sales this January. These 330 accepted offers ended 19.6% ahead of the 276 offers accepted in December and 8.6% ahead of the 304 offers accepted last year in January 2015. The last January there were more accepted offers in Lane County was in 2007, when 354 were recorded.

New listings, at 420 in January, were nearly double the 211 offered last month in December 2015 (99.1%). Even so, these new listings fell 6.5% short of the 449 offered in January 2015. Closed sales, at 260 for the month, fared 20.4% better than in January 2015 (216) but were 34.0% under the 394 tallied last month in December 2015.

Total market time remained at 84 days in January, and inventory increased slightly to 3.3 months.

Average and Median Sale Prices

Comparing the average price of homes in the twelve months ending January 31st of this year ($244,200) with the average price of homes sold in the twelve months ending January 2015 ($235,900) shows an increase of 3.5%. The same comparison of the median shows an increase of 4.0% over that same period.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1014 Yew St

Price: $238,400    Beds: 3    Baths: 2    Sq Ft: 1466

Super Good Sense & quality built! Energy efficient forced air heating & cooling. Hardi plank siding, plaster finished walls, finished garage with sink, and RV parking. Great Room layout, vaulted ceilings, recessed lights, maple cabinets, tile floors...
View home for sale >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

One thing that has always been true, Eugene and Springfield Oregon have a Real Estate market that does not always follow the flow of the rest of the country.  Sometimes this can be good and sometimes it might not be so good.  Our local market never seems to have the abrupt ups and downs that even close market areas like Portland experience.  This can be discouraging when we see other markets values jumping well above our local values, but when the market turns and those markets that had the steep gains begin the cycle down, Eugene typically does not decline as rapidly.  This is good!

Right now, Eugene and Springfield are enjoying one of the best housing markets that I have experienced in 27 years of selling Real Estate.  Unlike many other markets around the country, our home prices remain affordable.  First time buyers can still find entry level housing and be able to not put every last cent into making a house payment.  At the same time, our home values here have increased enough that most homeowners who have lived in their homes for a few years have good equity.  Eugene and Springfield is currently experiencing one of those housing markets that is great for buyers, sellers and investors.  But, a word of warning! Housing markets never stay the same for long.  The market that we are currently experiencing could be gone tomorrow.  For that exact reason, if you are considering the sale of your home, moving up or moving down in home size or wish to purchase your first home, you may never find a better opportunity than what we have today.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

 2231 Sandy Drive

Price: $310,000    Beds: 3    Baths: 3    Sq Ft: 2720

In highly desirable Ferry St Bridge area! Delightful 0.21 acre property on quiet street. Features recessed lights, skylights, vaulted ceiling and Pergo wood floor. Huge master suite with 3 closets and 5-piece bath. 3 bedrooms plus additional room th...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

As I have mentioned previously, one thing that you can bet on is that things are not going to stay the same in the world of Real Estate for any long period.  Our extended run of historically low mortgage interest rates could be close to ending.  It now appears that the Fed will soon begin raising interest rates.  This could indicate that the Fed is putting the steps into place which will eventually normalize interest rates in this country.  How fast this all takes place is anybody's guess, but it has to happen and it now looks like this is the scenario that is rapidly approaching.

What does this mean for home buyers and home sellers?  Our long run of low mortgage rates has heated up a Real Estate market that otherwise would have been flat.  Low rates have kept buyers very active and this has created high demand, which in turn has created low inventories of homes from sale.  This situation has lead to home price increases across the country.  Higher mortgage interest rates will decrease buyer demand, allowing invetories to rise and this will in turn put pressure on home pricing.  This will not happen over night, but it will happen.  Also, remember that this country has struggled to fully recover from the recession and household incomes have not really increased in a long time.  All of this points towards a much slower housing market in the months ahead. A market that may not be nearly as attractive to buyers and sellers as the one we are currently enjoying.

If you are considering a home purchase or a home sale, don't hold off.  Don't wait for Spring.  This could be a very costly mistake.  Mortgage interest rates remain low at this time and buyer demand is high.  For sellers, this may be the be time to sell your home that you will see for years.  For buyers, home affordabilty may suffer when rates climb as well as your ability to qualify for financing.  Don't wait, as I mentioned above, the current mortgage rate situation is about to change and we may never see mortgage rates back at the levels they are today.

If you would like some information on buying or selling a home in this market, get in touch.  I would love to assist you.  As always there is no obligation, just good, honest information that will help you make the right decision.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2231 Sandy Drive

Price: $330,000    Beds: 3    Baths: 3    Sq Ft: 2720

In highly desirable Ferry St Bridge area! Delightful 0.21 acre property on quiet street. Features recessed lights, skylights, vaulted ceiling and Pergo wood floor. Huge master suite with 3 closets and 5-piece bath. 3 bedrooms plus additional room th...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area continues to soar.  June was a record breaking month for home sales.  At the same time the inventory of homes continues to decline, making the Eugene and Springfield area a strong sellers market.  Most of this hot sales action continues to be in the lower and mid range areas.  Sales of upper end priced homes continue to be sluggish.  This is something that is more unique to Lane county as many parts of the country are seeing a hot market even in the upper price ranges.

June was another great month for closed sales in Lane County. The 536 closings outpaced last month (411) by 30.4% and last June (389) by 37.8%. It was the strongest June for closings in Lane County on the RMLSTM record—the previous June record of 508 was tallied in 2004.

Pending sales (557) outpaced last June’s 428 by 30.1% and edged out last month’s 552 accepted offers by 0.9%. New listings (680) similarly outpaced last June’s 641 by 6.1% and May 2015 (672) by 1.2%.

Inventory in Lane County decreased to 2.6 months in June. Total market time decreased to 73 days in the same period.

Year to Date Summary

Activity is up during the first six months of this year compared to the same period last year. Pending
 sales (2,695) are up 29.9%, closed sales (2,164) are up 28.0%, and new listings (3,594) are up 12.0% this year compared to the first six months of 2014.

Average and Median Sale Prices

Comparing 2015 to 2014 through June of each year, the average sale price rose 3.0% from $234,300 to $241,300. In the same comparison, the median sale price rose 4.3% from $210,000 to $219,000.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2511 Garfield St
 

Price: $435,000     Beds: 3     Baths: 2    Half Baths: 1     Sq Ft: 3908

Spacious custom home w/ tree views! Beautiful 3 levels offer amazing treetop views from lg private master ste which occupies entire upper level. Grand KIT w/ very lg cook island, eat-bar, cherry cabs, corian counters & Wilsonart lam flrs that lead t...
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AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

If you think that it is too late in the season to put your home on the market, think again!  The Eugene and Springfield market area continues to have a very low inventory of homes for sale in many price ranges and areas.  This means less competition and a chance for you to sell quickly at top dollar value.  The other thing that is important to think about is the fact that your home value has most likely increased significantly over the past year.  This along with a robust housing market in our area makes this a great time to think about selling.  This market won't last forever.  We will see and end to this long run of low mortgage interest rates  and when that takes place, housing affordability will suffer and most likely demand will decline.

If you have been considering selling your home and just want to check things out, please contact me.  With a short 20 minute visit to your home, I can give you some ideas on what your home is worth and also give you some information on what it would take to sell your home.  

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-July-2015

THIS WEEKS HOT HOME LISTING!

28135 Spencer Creek Rd

Price: $1,250,000    Beds: 4    Baths: 4    ½ Baths: 2    Sq Ft: 6143

Just minutes from town! This gated country estate is spectacular with an exquisite manor featuring grand staircase, 4 bedroom suites, office, theater room, gourmet kitchen and more. Great shop for RV and storage, creek, waterfall pool, ponds for fishing...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

May home sales in the Eugene and Springfield area were strong.  This indicates a continuation of a strong Real Estate market in our area.  The one thing to note is that the majority of the activity is in the lower price ranges of $400,000 and below, with the market under $300,000 certainly remaining the strongest.  Unlike other parts of the country, the Eugene and Springfield area contnues to be a tough market in upper price ranges.

May Residential Highlights

Closings were strong this May in Lane County! Closed sales, at 411, represented a 28.8% increase over the 319 closings posted in May 2014 and a 7.6% increase over the 382 closings posted last month, in April 2015. The last May when there were more closed sales was in 2007, when there were 429 closings posted for the month. At 41 closed sales for the month, Florence posted more closed sales than any other May since 2007, when RMLSTM started keeping a separate record.

Pending sales (552) cooled 0.9% from April’s 557, but showed a 19.7% increase over the 461 offers accepted in May 2014. Similarly, the 672 new listings were 2.2% below the 687 new listings offered in April but 2.8% better than the 654 new listings offered in May 2014.

Inventory in Lane County decreased slightly to 3.3 months in May. Total market time decreased to 82 days in the same period.

Average and Median Sale Prices

Comparing 2015 to 2014 through May of each year, the average sale price rose 2.8% from $230,100 to $236,500. In the same comparison, the median sale price rose 2.9% from $207,500 to $213,500.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

4181 N Clarey St

Price: $210,000    Beds: 3    Baths: 1    Sq Ft: 1350

Beautiful home inside and out! On almost 1/4 acre featuring privacy hedges, flower & vegetable garden, large fenced backyard, huge covered patio, RVP + hookup, 2-car garage, carport, shop with wood rick, & tool shed. Living room with fireplace opens...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Afternoon!

The Real Estate market in the Eugene and Springfield area continues to be strong.  With increasing numbers of homes sales, this market is well above where it was in May-June of 2014.  The largest problem with our local market is the lack of inventory in the price ranges below $250,000.  This is the price range where the strong demand exists. In our local market the upper price ranges, those home $350,000 and higher still can see a much more sluggish market with far fewer buyers.  Nationally, home sales have dipped, but just like in the Eugene and Springfield area, prices continue to escalate. With mortgage interest rates remaining in the sub 4% ranges, look for this exact trend to remain for the rest of the Summer months.

If you are considering selling your home, this is the time. Higher prices, lower inventory and high demand can make for a great opportunity.  For buyers, the home choices can be tough, but new homes are hitting the market daily and you just have to be on top of your search efforts.  A great way to do this is to go to the web site www.forhomeinfo.com.  You can do a live home search here and you can also set yourself up with the home alert system that notifies you every time a home meeting your search criteria hits the market.  This can give you the competitive edge you need in this market.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!


185 Crest Drive

Price: $315,000     Beds: 3     Baths: 2     Sq Ft: 2500

Lovely updated gem in SW Hills! Hillside location surrounds you w/ serene tree views. Sunlight floods in through numerous windows. 2-story vaulted LR w/ pellet stove insert & loft overlook mahogany flr+trim & slider. Enjoy beautifully landscaped fen...
View this property >>

AND HERE'S YOUR MONDAY MORNING COFFEE!!

In the interest of providing you with accurate, up-to-date and unbiased information on the real estate market in Eugene, Oregon, here are some vital statistics taken from the real estate aggregating website Trulia:

• Average Listing Price (week ending 10.26.2011): $288,777, down 0.3% ($821) compared to the prior week
• Median Sales Price: $204,950 down 4.7% ($10,050), based on 388 home sales from July to Sept., 2011
• Average Price Per Square Foot: $152, down 3.2% compared to the same period last year
• Number of Sales: 388, +3.5%

Definitions

These dollar amounts and percentages might seem self-evident, but just to be clear, here’s a paraphrasing Trulia’s definition of these terms:

Average Listing Price
This is based on daily average prices for the most recent week on new and resale houses listed on Trulia, which says it updates these prices weekly.

Median Sales Price
This is the median residential sales price for the latest 90-day period for which sales are available to the public. It is the price at which 50% of the homes sold for more than the median price and 50% of the homes sold for less than the median price. Median sale price is restructured each week as fresh sales data is released.

Average Price per Square Foot
This is determined using sales from the most recent 90-day period and kept up-to-date weekly from the latest transaction data available via public record sources.

Perspective Is Reality

In order to put the above numbers into the proper perspective, you need to compare them with the numbers for some of the other cities near Eugene. Once again, we turn to the real estate website Trulia for these figures (for more details, click on the city):

What Do All These Stats Mean To Me?

If you are or think you might soon be buying or selling a home in Eugene, use these facts and figures as a base on which to make well-informed decisions about property transactions. Information is power, after all, and empowerment gives you confidence.

And when it comes to the amount of time, money and, let’s face it, emotion involved in home sales transactions, regardless of whether you’re the buyer or the seller, you want all the power and confidence you can get.