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Latest Market Activity for August 2018

by Galand Haas

Good Monday Morning!

Don't let the sales statistics from August fool you, we are heading into a shifting market quickly in the Eugene and Springfield area. The months to come certainly may see slower home sales with more pressure on home prices and longer times on the market. Home prices over the past several years have increased too rapidly and have outpaced buyers ability to purchase. In the past, this scenario has always created a market adjustment. If you are needing to sell a home now, you should be pricing your home accordingly. Don't think that you can price above this current market and expect a sale. Here are the August sales numbers.

August Residential Highlights

Lane County saw some gains in closings and new listings this August. Closings, at 575, outpaced August 2017 (519) by 10.8% and July 2018 (491) by 17.1%. It was the strongest August for closings in Lane County on the RMLSTM record, dating to 2001!


New listings (711) saw a 4.6% gain over the 680 new listings  on the market last year in August 2017 and a 9.4% gain over the 650 new listings on the market last month in July 2018.


Pending sales, at 505, showed a 3.8% decrease from August 2017 (525) and a 7.5% decrease from July 2018 (546).


Inventory edged down to 1.7 months in August, with total market time increasing to 36 days.


Year to Date Summary


Comparing the first eight months of 2018 to 2017, closed sales (3,564) have increased 4.1% and pending sales (3,772) have increased 0.9%. New listings (4,762) have decreased 0.4%.


Average and Median Sale Prices


Comparing 2018 to 2017 through August of each year, the average sale price has increased 6.3% from $288,900 to $307,200. In the same comparison, the median sale price rose 7.9% from $259,900 to $280,500.

Have an awesome week!

 

THIS WEEK'S HOT HOME LISTING!

3187 Kentwood Drive

Price: $264,900   Beds: 3   Baths: 2   Sq Ft: 1,172

Fantastic updated home in Ferry Street Bridge! New laminate wood floors, doors and hardware, fresh interior and exterior paint, and kitchen countertop. Bright and open inside. Living room with dining area. Kitchen with eating bar opens to family roo... View this property >> 


 

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

This Month In Real Estate September 2018

by Galand Haas

Good Monday Morning!

Nationally, both home sales numbers and average sales prices have dipped slightly.  This has not caught up to the Eugene and Springfield area just yet, but I believe that it is on the horizon.  I am noticing that many homes in our area are not selling quickly at this time and also I am starting to see a good number of price reductions.  This is a strong indication that change is on the horizon.  I would guess that we will most likley be seeing a much softer sellers market over the next quarter.  

 

If you have been looking for a home in the Eugene and Springfield area and became frustrated during the frenzied strong sellers market of the last year, this might be your opportunity to jump back in and potentially have a much easier time finding a home to purchase.

Trouble viewing video? View it here.

 

Have an awesome week!


THIS WEEK'S HOT HOME LISTING!

 

84305 Derbyshire Lane

 

Price: $414,900   Beds: 3   Baths: 1.5   Sq Ft: 2,019

 

Beautiful country property! Serene tree views surround 5.27 acre estate w/ gate entry. Engineered wood floors, 2 fireplaces, ductless heat pump, recessed lights & sliding door. Open galley kitchen w/ eating nook. Living & family rm, plus bonus rm w/... View this property >>  

 

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

This Month In Real Estate August 2018

by Galand Haas

Good Morning!

Nationally, homes sales dipped slightly in July, but home prices continue their upward trend.  It is my guess that we may have reached the peak in home prices and home prices will either remain flat, or possibly even start a decline soon.  Both locally and nationally, homes are becoming less affordable with higher prices and higher mortgage interest rates.  There is a point where the market will flatten due to this and home prices will begin the decline.  We are either there or it is close.

View video here

Have an awesome week!

 

THIS WEEK'S HOME HOME LISTING!

 

253 WEDGEWOOD DR

Price: $320,000    Beds: 3    Baths: 2.5    Sq Ft: 1855

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/ ... View this property

 

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Latest Market Activity For June 2018

by Galand Haas

Good Morning!

The numbers are in and Lane County had another strong month of home sales for June of 2018.  The primary thing to note is that the average home sales price continues to increase and is now over $300,000 as you will see.  One has to wonder how long this trend can continue in a market with a wage scale that does not support this high of an average home price? Here are the numbers for June of 2018.

 

June Residential Highlights

 

Lane County had mostly positive activity this June, with accepted offers leading the way. At 561, pending sales outpaced June 2017 (544) by 3.1% and May 2018 (521) by 7.7%. The last June when pendings ended stronger was in 2004, when 588 offers were accepted.

 

New listings, at 733, fared well in June. At 733, new listings rose 2.8% ahead of June 2017 (713) and 7.8% ahead of May 2018 (680). This was the strongest June for new listings since 2007, when 902 were listed.

 

Closed sales, at 479, dipped 6.1% under the 510 closings recorded in June 2017 but fared 6.2% better than last month in May 2018.

 

Inventory rose upward slightly in June to end at 1.7 months, with total market time holding steady at 38 days.

 

Year to Date Summary

 

Comparing the first six months of 2018 to 2017, closed sales (2,439) have increased 5.7% and pending sales (2,786) have increased 1.7%. New listings (3,370) have decreased 0.4%.

Average and Median Sale Prices

 

Comparing 2018 to 2017 through June of each year, the average sale price has increased 7.3% from $281,900 to $302,500. In the same comparison, the median sale price rose 9.1% from $254,000 to $277,000.

Have An Awesome Week!

 

THIS WEEK'S HOT HOME LISTING!

6997 Glacier Drive
Price: $375,000 Beds: 4 Baths: 2.1 Sq. Ft.: 2,406

Completely remodeled! Fresh interior & exterior paint. All new carpet, vinyl wood floors, LED lights w/ Decora switches, heat pump, furnace, hot water heater. Large lower level bonus space (not included in SF) w/ lots of potential; could make a grea...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!

Good Morning!

 

Rents have crept up in most communities just as home prices have.  In fact in many areas rents have increased at a higher rate than home prices.  I find today that many of the renters are paying more money to rent than they would be spending on a home payment.  By renting they are also losing out on some great opportunities such as depreciation and interest tax deductions.  Renters are also just making the landlords payments and not building equity.  Long term the buidling of equity in a home is one of the greatest wealth building opportunities for most people.  The followng is an article from "Realtor.com" on a recent study of the current trend towards renting.

 

A growing percentage of apartment renters aren’t interested in buying a home as affordability challenges take a bigger toll on American aspirations of homeownership.

 

In all, 20% of renters said they have no interest in owning a home, up from 17% in August and 13% in 2016, according to results of a semiannual survey of renters by mortgage company Freddie Mac in January.

 

Two-thirds of renters who plan to continue renting said they are doing so for financial reasons, up from 59% two years ago, according to the survey. 

 

“Housing is becoming less and less affordable. Renting is perceived to be the more affordable housing option,” said David Brickman, an executive vice president at Freddie Mac and head of its multifamily division.

 

The growing preference for renting comes even as the economy has strengthened and credit has loosened, in theory making homeownership possible for more people. Renters generally report being better off financially, with some 39% saying they have money to take them beyond the next payday, up from 34% in August, according to Freddie.

 

But home prices have risen strongly in recent years while rent increases have slowed, especially for luxury buildings in urban centers. The S&P CoreLogic Case-Shiller National Home Price Index rose 6.2% in January from the same month a year earlier, while the average apartment rent increased a more manageable 3.9% in the first quarter from a year earlier, according to real-estate research firm Reis Inc.

 

The preference for renting is being driven in part by baby boomers, who are more likely to have experienced some of the pitfalls of homeownership. Some 35% of baby boomers said they have no interest in owning a home, up from 31% in August and 23% two years ago, according to the Freddie Mac survey.

 

At the same time, concerns about affordability are most prevalent among younger renters. Nearly three-quarters of millennials said they are renting for financial reasons, up from 59% two years ago.

 

The survey was taken in late January, so it likely doesn’t reflect the full impact of the tax bill that passed in late December and shifted the equation in favor of renting for many households.

 

Have An Awesome Week!

THIS WEEKS HOT HOME LISTING!

88107 Keola Ln

Price: $595,000   Beds: 3   Baths: 3   Sq. Ft.: 3,488

Luxurious rural living! Serene tree views surround 1.79 acres. Every room has been updated! Tubular skylights, recessed LED lights, quartz and granite counters, solid oak floors, new tile floors and carpet, fresh interior paint and more. Master suite on main level. Large kitchen, formal dining, living plus family room, vaulted bonus room, laundry/mud room, 3 fireplaces. 4-car garage, RV parking, greenhouse, orchard...View property

 

AND HERE'S YOUR MONDAY MORNING COFFEE!! 

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.



Have An Awesome Week!

 

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

 


AND HERE'S YOUR MONDAY MORNING COFFEE!!

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.

Have an awesome week!

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 >> 



AND HERE'S YOUR MONDAY MORNING COFFEE!!

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. 

 

Have An Awesome Week!

 

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 >> 



AND HERE'S YOUR MONDAY MORNING COFFEE!!

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.


Have An Awesome Week!


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

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. 


Have An Awesome Week!

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 >>


AND HERE'S YOUR MONDAY MORNING COFFEE!! 

Displaying blog entries 1-10 of 28

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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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