Lane County Real Estate Market Data (Week of March 27)

    We’re wrapping up the month with an update on Lane County’s Real Estate market! Here’s the latest on pricing, inventory, and more for Eugene, Springfield, and Cottage Grove:

    Eugene Market Data:

    eugene-quartiles-3-27-17-1

    • Price: Prices are continuing to climb nearing the market’s all-time high and showing a substantial increase from the start of 2017.
    • Inventory: With the exception of the third quartile of homes, the number of pending sales (“absorbed”) has been outpacing or equal to the number of newly listed homes, resulting in a decrease of inventory.
    • Supply and Demand: It’s a seller’s market and the market continues to get hotter. More sales and fewer homes listed continue to contribute to the increase in pricing.

     

    Springfield Market Data:

    springfield-quartiles-3-27-17

    • Price: Median pricing is holding steady, however it has seen a noticeable increase since the start of the year.
    • Inventory: With the exception of the fourth quartile, the number of pending sales (“absorbed”) is fewer than the number of new listings. However, inventory is tightening and the days-on-market is falling.
    • Supply and Demand: Home sales continue to surpass supply and it remains a seller’s market, so expect upward pricing pressure if the trend continues.

     

    Cottage Grove Market Data:

    cottage-grove-quartiles-3-27-17

    • Price: Pricing seems to have paused around this plateau and median pricing has only increased slightly since the start of the year.
    • Inventory: The number of pending sales (“absorbed”) is equal to or less the number of newly listed homes in all quartiles, allowing for slightly more inventory compared to the other markets.
    • Supply and Demand: Like Springfield, home sales continue to surpass supply and it remains a seller’s market, so expect upward pricing pressure if the trend continues.

     

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