Good Monday Morning!

Real Estate sales in the Eugene and Springfiled area sagged slightly in June. For the most part, mortgage interest rates heald steady, which is extremely helpful in this market. Home sales were off from the same period last year and home prices declined slightly, but not enough to compensate for the higher mortgage interest rates. Buyer demand seems to be remaining strong with the largest obstacle for more home purchases being the extreme lack of home inventory. We remain in a very strong seller's market with multiple offers continuing to be the situation with many sales. If you are considering the sale of a home, the market remains very favorable for you. The following is a report on home sales in the Eugene and Springfiled area for June 2023.

New Listings

New listings (553) decreased 12.5% from the 632 listed in June 2022, and increased 26.0% from the 439 listed in May 2023.

Pending Sales

Pending sales (377) decreased 14.3% from the 440 offers accepted in June 2022, and increased 1.3% from the 372 offers accepted in May 2023.

Closed Sales

Closed sales (365) decreased 21.5% from the 465 closings in June 2022, and increased 25.4% from the 291 closings in May 2023.

Inventory and Time on Market

Inventory decreased to 1.6 months in June. Total market time increased to 38 days.

Year-to-Date Summary

Comparing the first six months of 2023 to the same period in 2022, new listings (2,389) decreased 21.9%, pending sales (1,925) decreased 23.1%, and closed sales (1,698) decreased 26.3%.

Average and Median Sale Prices

Comparing 2023 to 2022 through June, the average sale price has decreased 2.5% from $475,900 to $464,100. In the same comparison, the median sale price has decreased 1.1% from $435,000 to $430,000.

Have An Awesome Week!

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

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AND HERE'S YOUR MONDAY MORNING COFFEE!!