Good Monday Morning!

The January 2024 Real Estate market in the Eugene and Springfield area improved some over December 2023 but decreased from January 2023. All categories were off from one year ago. The only real positive news is that the inventory of homes for sale is creeping up. Interest rates took a dip for a short period of time in December and January, but have inched back up as of late. The outlook for an improved housing market right now hinges on mortgage interest rates declining again and an improvement in our nation's economy. A bright spot right now is that, with the improved housing inventory, we are having a much easier time finding homes for our clients. We are also finding many sellers who are more motivated and willing to pitch in with paying buyers closing costs, etc. This is something that we have not seen happen in years. There is always a bright spot if you look for it. The following are the home sales numbers for Lane County for the month of January 2024.

New Listings

New listings (283) decreased 6.6% from the 303 listed in January 2023, and increased 59.9% from the 177 listed in December 2023.

Pending Sales

Pending sales (258) decreased 14.9% from the 303 offers accepted in January 2023, and increased 24.0% from the 208 offers accepted in December 2023.

Closed Sales

Closed sales (173) decreased 2.3% from the 177 closings in January 2023, and decreased 19.5% from the 215 closings in December 2023.

Inventory and Time on Market

Inventory increased to 3.2 months in January. Total market time increased to 68 days.

Year-to-Date Summary

Comparing the first month of 2024 to the same period in 2023, new listings (283) decreased 6.6%, pending sales (258) decreased 14.9%, and closed sales (173) decreased 2.3%.

Average and Median Sale Prices

Comparing 2024 to 2023 through January, the average sale price has decreased 2.1% from $470,600 to $460,800. In the same comparison, the median sale price has decreased 1.0% from $419,000 to $415,000.

Have An Awesome Week!

Stay Healthy! Stay Safe! Remain Positive! Trust in God!

THIS WEEKS HOT HOME LISTING!

4927 Morely Loop, Eugene, OR 

Price: $330,000    Beds: 3    Baths: 2.0    SqFt: 1518

This updated home is on its own lot & doesn't have any HOA fees. It's located on a quiet street with a treed view in the backyard. Open floor plan with vaulted ceilings, skylight in the kitchen, laminate flooring and vinyl windows. Sliding French ba...View this property >> 

AND HERE'S YOUR MONDAY MORNING COFFEE!!