Good Monday Morning!

The Real Estate market in the Eugene and Springfield area continues along the same path that it has for some time now.  The inventory of homes for sale continues to be at a low point and is setting records.  The inventory now sits at .8 months.  This is the lowest level in history for the Eugene and Springfield area and well below the level for what would be considered a healthy market.  Low inventory means difficuty for buyers finding homes, fast sales for home sellers and also tough pricing for buyers.  I am in hopes that after Christmas time and coming in to the new year, this situation will begin to change. The following are the numbers for home sales in Lane County for November of 2020.

November Residential Highlights

New listings (311) increased 19.2% from the 261 listed in November 2019, and decreased 39.1% from the 511 listed in October 2020.

Pending sales (398) increased 22.1% from the 326 offers accepted in November 2019, and decreased 18.8% from the 490 offers accepted in October 2020.

Closed sales (392) increased 12.6% from the 348 closings in November 2019, and decreased 19.0% from the 484 closings in October 2020.

Inventory and Market Time

Inventory decreased to 0.8 months in November, the lowest on RMLSTM record. Total market time decreased to 33 days.

Year-to-Date Summary

Comparing the first eleven months of 2020 to the same period in 2019, new listings (5,325) decreased 3.6%, pending sales (4,701) increased 1.6%, and closed sales (4,388) decreased 3.2%.

Average and Median Sale Prices

Comparing 2020 to 2019 through November, the average sale price has increased 11.8% from $325,200 to $363,500. In the same comparison, the median sale price has increased 13.6% from $295,000 to $335,000.

Have An Awesome Week!

Stay Safe, Stay Healthy!!

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AND HERE'S YOUR MONDAY MORNING COFFEE!!

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