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Latest Market Activity for February 2017

by Galand Haas

Good Morning!

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!

THIS WEEKS HOT HOME LISTING!

1471 BARRINGTON AVE

Price: $514,900    Beds: 5    Baths: 3    Sq Ft: 3756

Luxurious & grand! Great Rm w/ surround sound, Brazilian cherry hardwd & gas fp. HUGE theater/bonus rm. Open KIT w/ cherry stained cabinets, island, LED under+above cabinet & toe-kick lights. Private mstr ste w/ access to back, bath w/ heated marble...View Home for Sale >>


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This Month in Real Estate March 2017

by Galand Haas

Good Morning!

Nationally, the housing market is experiencing little change.  So far, this is what I predicted for the first half of 2017 with a fairly flat market.  The second half of 2017 could see some change, especially if we see mortgage interest rates begin to creep up.  Here in the Eugene and Springfield area, the inventory of homes for sale remains at a crippling low level for first time home buyers.  Homes in the $175,000 to $300,000 range are scarce.  

If you are thinking about selling your home this year, don't hesitate.  Right now is the time to get it on the market.  The worst thing you could do this year is to wait for Spring and Summer.  The present market may be the best market we see in years for home sellers!

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-March-2017

THIS WEEKS HOT HOME LISTING!


114 Hayden Bridge Way

Price: $249,900    Beds: 3    Baths: 2    Sq Ft: 1451

Pride of ownership shows. Over 1/4 of an acre offers oversize attached garage, detached garage/shop with workbench, long wide drive with room for RV parking, large fenced backyard with covered patio, plus timed sprinkler system. Great room with fire...View Home for Sale >>



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This Month in Real Estate December 2016

by Galand Haas

Good Morning!

In many ways, it is a typical December for the Eugene and Springfield area in regards to home sales.  Most people thinking about selling a home avoid putting their home on the market this time of year and the inventory of available homes for sale is at a yearly low.  What is different this year is that coming into the Holiday Season, our inventory of homes for sale was already very low.  The result of this is that there are many well qualified home buyers who cannot find a home to purchase.  For a home seller, you cannot have a better climate for selling your home.  Low inventory, high demand typically means a fast sale at top market value.

If you are going to be selling your home in the near future, my advice is to get your home on the market soon.  Whatever you do, don't wait for Spring.  If you don't want the hassle of having your home on the market over the Holidays, then think about getting it on the market by early 2017.  The inventory of homes for sale will most likely remain at a low level through February-March and then start a gradual increase.  

If you want to capitalize on our current sellers market, contact me.  I can easily give you an indication of what your home would sell for during the current market and also give you some tips on how to get top dollar value for your home. We have a long list of well qualified home buyers in a variety of price ranges and areas waiting for additional homes to hit the market.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-In-Real-Estate-December-2016

THIS WEEKS HOT HOME LISTING!

 

2445 Elysium Ave

Price: $350,000    Beds: 4    Baths: 2    Partial Baths: 1    Sq Ft: 2172

Remarkable remodel! Luxurious updates, lots of natural light, abundant storage, large corner lot. Large atrium entry with flagstone tile. Spacious family room with vaulted ceiling, beams, Coretec Plus vinyl wood floor, 2 sliders & gas fireplace. Ope...View Home for Sale >>


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This Month in Real Estate November 2016

by Galand Haas

Good Monday Morning!

This is an exciting week as our nation goes to the polls on Tuesday to select our next President and to vote for members of Congress, the Senate, local goverment officials and many measures.  We are so fortunate to live in a country, where we get to choose and we get to vote.  Our voices are heard through and vote, which is our right.  Please remember how privileged we are and make sure that you exercise your right.

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-November-2016

Have An Awesome Week!!

THIS WEEK'S HOT HOME LISTING!


28135 Spencer Creek Rd

Price: $1,250,000    Beds: 4    Baths: 4    Partial 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 fis...View Home for Sale >>


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This Month in Real Estate October 2016

by Galand Haas

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area has maintained a good balance over the past several months.  Sales have slowed slightly, but this is most likely seasonal.  Home prices are holding steady and buyer demand is good.  Mortgage interest rates are also holding steady, making the climate for home sales very favorable.  Nationaly this trend is also holding true.  Once the elections are over, we will get a better idea of what the future holds.  One thing for sure is that if we begin seeing across the board tax increases along with rising interest rates, the housing market will suffer!

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-October-2016

THIS WEEKS HOT HOME LISTING!


2087 Lemuria St

Price: $255,000    Beds: 4    Baths: 2    Partial Baths: 1    Sq Ft: 2080

Delightful and bright! Features lots of natural light, fresh interior paint throughout, new doors and frames. Living room opens to dining area with slider. Kitchen with eating bar. Plus family/bonus room. One bedroom with bath. One huge bedroom/mult...View Home for Sale >>


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Local Market Activity for July 2016

by Galand Haas

Good Morning,

July numbers are in and just as I predicted last month, the figures indicate a slight slowing of the housing market in the Eugene and Springfield area.  Not only were total home sales down from June of this year, but they were also below the level of July 2015.  I would expect to see this trend continue for the remainder of the year.  As indicated by the increase in home values, there seems to be some price resistence beginning.  When home prices increase faster than the economy, there will a market slow down as homes start to become harder to afford.

Lane County had another month of mixed activity in July. Pending sales (549) ended 4.8% ahead of July 2015 (524) but fell 1.1% short of the 555 offers accepted last month in June 2016.

New listings fared similarly—the 670 offered in July topped July 2015 (647) by 3.6%, but fell one short of the 671 offered last month in June 2016 (-0.1%).

Closed sales, at 418, ended 22.9% below July 2015 (542) and 20.2% below June 2016 (524). Even so, these 418 closings were stronger than the 390 closings posted two years ago in July 2014.

Year to Date Summary

Comparing the first seven months of 2016 to the same period of 2015, closed sales (2,833) have increased 3.8% and pending sales (3,359) have increased 5.6%. New listings (4,088) have decreased 4.1%.

Average and Median Sale Prices

Comparing 2016 to 2015 through July of each year, the average sale price rose 6.7% from $243,300 to $259,700. In the same comparison, the median sale price rose 6.5% from $220,000 to $234,400.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1615 Taney St

Price: $299,000    Beds: 4    Baths: 2    Half Baths: 1    Sq Ft: 1913

Brand new home! Great quality construction with plaster finished walls, maple hardwood & porcelain tile floor, hickory cabinets, granite counters, 9 ft ceiling, LED dimming lights, 3 skylights one of which opens. Great room layout with gas fireplace...View this property >>


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Nationally the Housing Market Remains Robust

by Galand Haas

Good Monday Morning!

It is not just the Eugene and Springfield area that is having a hot Real Estate market.  Nationally, the housing market has been robust and just as in Eugene and Springfield, home prices are on the rise as well. Here is a short and informative article about the national housing market from Realtor.com.

Frazzled home buyers may need to sit down and take a few deep breaths before reading any further. Those rapidly rising home prices have hit an all-time high—and show no signs of slowing down before Labor Day.

The median price of an existing (i.e. not newly constructed) home across the nation reached $239,700 in May, according to a recent report from the National Association of Realtors®. That’s up 3.8% from April and 4.7% from May of 2015.

The previous peak was last June at $236,300.

“The price increases are a natural result of the very strong demand for homes against very limited homes for sale,” says realtor.com’s chief economist, Jonathan Smoke. “It’s pent-up demand… coupled with the lowest mortgage rates we’ve had in three years.”

He predicts prices will continue to surge this summer as buyers fight over the not-nearly-enough residences on the market. But there is hope: the mad rush for available homes is expected to taper off come Labor Day, Smoke says.

“There’s a higher probability that interest rates will go up [in the fall]. School is back in session, which means fewer [parents] are looking to move,” he says, adding that the presidential election will cause some potential buyers in certain areas of the country, like Washington DC, to postpone home buying decisions.

The high prices have been a boon to sellers who are putting their properties on the market and cashing in.

“More homeowners are realizing the equity they’ve accumulated in recent years and finally deciding to trade-up or downsize,” NAR chief economist Lawrence Yun said in a statement. “Repeat buyers are using the proceeds from the sale of their previous home as their down payment.”

Residences also continued to fly off the proverbial shelves at the highest volume for the month of May since 2005—before the financial crisis walloped the world economy. This May, the number of sales hit 526,000, a 11.9% jump from April and a 6.3% rise from May of last year, according to the report. Those numbers were not seasonally adjusted, which is to say they weren’t smoothed out over a 12-month period to account for seasonal fluctuations.

The cost of becoming a homeowner is by far the highest in the West, home to astronomically expensive areas like San Francisco and nearby Silicon Valley, according to the report. The median home price in the region was $346,900 in May and the number of sales rose 0.9% year-over-year to 114,000.

The next most expensive region was the Northeast at $268,600, according to the report. The region also saw the fewest sales, at 69,000, in May. But the number of existing homes sold jumped 11.3% from the same time a year earlier.

The region was followed by the South, where the median home price hit $211,500. The warm weather region saw the most sales at 211,000, a 8.2% rise from a year earlier.

Last up was the Midwest, where prices reached $190,000. The number of sales reached 132,000 in May, a 5.6% bump from May of 2015.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

2484 Crowther Drive

Price: $299,000    Beds: 3    Baths: 2    Half Baths: 1    Sq Ft: 1911

This Heitman Custom Home has been beautifully maintained and offers wonderful amenities and details. Some of the features include crown molding, tray and vaulted ceilings, wainscoting, custom cabinets, hardwood and tile floors, granite and abundant ...View Home for Sale >>


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Local Market Activity for June 2016

by Galand Haas

Good Morning!

Here are the statistics for the June Real Estate market in the Eugene and Springfield area.  As you can see the month of June shows that our local market continues to be extremely strong and that the inventory of homes for sale continues to decline.  In fact 1.8 months of inventory is the lowest that I can remember seeing in this market.  Of concern is the fact that home prices continue to rise at a rapid pace.  In fact, home values now show that they are at or slightly above pre-recession numbers. This is a concern, because at some point, we will begin to see price resistance from buyers.  The fact that the local economy is not keeping up with home price increases means that many buyers are now going to be taken out of the market because they can no longer afford to buy at the new higher prices.  When we hit this point, it will put pressure on pricing and the market will begin to trend downwards.  Any spikes in mortgage interest rates at this time could be very negative to a healthy Real Estate market here.  

If you are consideriing the sale of a home, this may be your last opportunity to take advantage of this strong sellers market.

June Residential Highlights

Real estate activity in Lane County was mixed this June. Closed sales (524) rose 18.8% compared to May 2016 (441), but fell 2.2% short of the 536 closings recorded last year in June 2015. New listings (671) rose 2.1% over May 2016 (657) but fell 1.3% short of the 680 new listings offered last year in June 2015.

Pending sales (555) ended 0.4% short of June 2015 (557) and were 2.1% short of the 567 offers accepted last month in May 2016.

Inventory decreased to 1.8 months in June, with total market time decreasing to 49 days. Lane County ended June with a total of 959 active residential listings.

Year to Date Summary

Comparing the first half of 2016 to the same period of 2015, closed sales (2,379) have increased 9.9% and pending sales (2,852) have increased 5.8%. New listings (3,402) have decreased 5.3%.

Average and Median Sale Prices

Comparing 2016 to 2015 through June of each year, the average sale price rose 7.4% from $241,300 to $259,100. In the same comparison, the median sale price rose 6.2% from $219,000 to $232,500.

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

1760 Sweetbriar Ln

Price: $385,000    Beds: 4    Baths: 2    Sq Ft: 1969

Beautiful contemporary craftsman! Features fully remodeled kitchen with long granite counters & island, steel appliances, 5 burner gas Wolf range, cherry wood cabinets. Vaulted ceiling with skylight, hardwood floor and open multi-level floor plan. K...View Home for Sale >>


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This Month in Eugene-Springfield Real Estate March 2016

by Galand Haas

Good Monday Morning!

Nationally, the Real Estate market has cooled off a bit.  Even though mortgage rates have continued to decline and and for the most part remain sub 4%, fewer homes were sold in February and home prices tapered off a bit.  Here in the Eugene and Springfield area, the housing market remains robust, but inventories in the price ranges below $300,000 are still in short supply.  As we approach Spring and Summer it will be interesting to see if both the national and local housing markets take off like they did last year. My prediction for the remainder of 2016 is a fairly flat market with little change.  Time will tell this story.

Have An Awesome Week!

Video Link Here

 

THIS MONTHS HOT HOME LISTING!


83821 N Enterprise Rd

Price: $399,000    Beds: 3    Baths: 2    Sq Ft: 2332

Beautiful country living! Gorgeous 18.62 acres primarily fenced pasture land. Mountain views, large metal barn, detached garage, roof certification in place. Home is somewhat of a cosmetic fixer. Located within 3 miles of stores and school....
View Home for Sale >>


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This Month in Eugene-Springfield Real Estate February 2016

by Galand Haas

Good Monday Morning!

The Real Estate market in the Eugene and Springfield area has started off 2016 by being a strong sellers market.  There is significant demand for homes, but home inventories remain at extremely low levels.  Less than 3 months of active home inventory in our market area means that if no new homes were to go on the market, the existing inventory of homes for sale would be exhausted in less than 3 months.  For anyone wanting to sell their home, this is as good as it gets.  The competition level is very low and the demand is high.  As long as we continue to have extremely low mortgage interest rates, this market will most likley continue.

As I have stated in previous reports, if you are considering the sale of your home soon or in the near future, now is the time to act.  Don't wait for Spring, act now! If you would like to explore what your home is currently worth in todays market, contact me and I can furnish you with a FREE market analysis.  Or if you are are wanting a quick and easy look at your homes value, you can also visit the website www.forhomesellers.com.  This site wil give you a fairly accurate look at your homes current value and is much more accurate and reliable than a Zillow report.

Have An Awesome Week!

Video Link: http://eugeneoregonhomesforsale.com/video/This-Month-in-Real-Estate-February-2016

 

THIS WEEKS HOT HOME LISTING!


2685 Valley Forge Dr

Price: $509,900    Beds: 3    Baths: 2    Partial 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 this property >>


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