Here are the numbers for the February 2017 Real Estate market in the Eugene and Springfield area. As you can see, there was little change. The inventory of homes for sale remains critically low and the result is fewer sales and higher home prices. The Eugene/Springfield area remains as one of the lowest areas in the country for active homes for sale at just 2.2 months of active inventory available. All that I can say is the same thing that I have been saying. If you are thinking about selling your home in the near future, this is the top of the market for home pricing and you should take advantage of it. Here are the numbers for February.
February Residential Highlights
Activity in Lane County continued a cooling trend this February, but some numbers showed gains over January. New listings (393) showed a 22.8% gain over January 2017 but ended 5.5% below the 416 new listings offered last year in February 2016.
Similarly, pending sales (369) rose 16.0% above the 318 orders accepted last month in January 2017 but were 12.1% under the 420 orders accepted last year in February 2016.
Closed sales, at 247, ended 13.0% under February 2016 (284) and 9.5% under January 2017 (273).
February saw inventory in Lane County rise just slightly to 2.2 months. Total market time during the same period rose three days to 75 days.
Average and Median Sale Prices
Comparing the average price of homes in the twelve months ending February 28th of this year ($266,000) with the average price of homes sold in the twelve months ending February 2016 ($244,400) shows an increase of 8.8%. The same comparison of the median shows an increase of 8.3% over that same period.
Have An Awesome Week!
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