December 2008 Real Estate Trends
Good Monday Morning!
The sunshine was a welcome site over the weekend. Cold mornings and warm afternoons are very enjoyable this time of year!
The month of December 2008 Real Estate market statistics are in for the Eugene and Springfield area. As expected the numbers show a continuation of the decline in our local housing market. Average time on the market for single family homes was 126 days and the median home price dipped to $200,000, which was down from $225,600 in December of 07. There was 10.7 months of active home inventory, which means at the current rate of sales it would take this many months for the inventory to sell if no new homes hit the market. Overall home sales were down by 28.9% from December of 07 and the overall gross home sales volume for 08 was $740 million in comparison with $1.1 billion in 07.
For home buyers this is the perfect market with mortgage interest rates remaining under 5% for 30 year fixed conventional loans.
THIS WEEKS HOT HOME LISTING!
4848 Camellia, Springfield, Oregon
Description: Charming 1-level home with spacious backyard in quiet location. The home features a living room with wall-to-wall carpet and bay window, a large famiy room with stone fireplace and a kitchen with a br ....
AND HERE'S YOUR MONDAY MORNING COFFEE!!