Market Update for April
Good Monday Morning!
It was a wonderful Western Oregon Spring weekend and it was well deserved.
The statistics are in for the March 2012 Real Estate market in the Eugene and Springfield area. March showed a continuation of an improving Real Estate market here. New listings were dowm 16.1% from March of 2011, but were up 6% from February of 2012. Pending home sales were up 11.5% from March of last year and also up 7.1% from this February. Closed home sales were also up 9.3% from March of 2011 and were up a whopping 42.5% from February of 2012. The inventory of homes listed for sale continues it's decline and now stands at 6.3 months. This is much improved from the 8.6 months of inventory in March of 2011 and the 8.8 months of inventory in February of this year. Remember that 6 months of inventory is the dividing point between a buyers and sellers market.
The majority of the sales activity was in the the $200,000 and below price range. Price ranges above this are still experiencing a pretty sluggish market.
The average sales price has also gone up slightly and is now at $195,300 in comparison to $193,500 in March of 2011.
The next several months may be interesting as we expect to begin seeing a higher number of foreclosed homes hit the market as banks begin to dump their shadow inventory.
Have An Awesome Week!
THIS WEEKS HOT NEW HOME LISTING!
4125 Alder St
Nestled in the Hills! Wonderful views of the trees. Light and bright, spacious living areas, well-sized bedrooms with large closets, master bath with two sinks, living room with slider to large 2 level deck, kitchen with eating area, dining room, 2 ...
AND HERE'S YOUR MONDAY MORNING COFFEE!!