Eugene-Springfield Market Activity for February 2016
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!
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