A Sluggish Housing Market Remains

Overall, home sales in Lane County were off in December of 2023. A sluggish housing market remained in place, even with slightly lower mortgage interest rates. We saw a short spurt of activity in early December fade as we approached the Holidays. What will 2024 bring? There is a potential for a much improved housing market in Lane County if mortgage interest rates decline further and the Fed remains steady or even drops rates. This is an unknown presently and only time will tell. The overall economy needs to improve as well and inflation numbers need to decline. Without all of these pieces falling in place, don’t look for any substantial changes in our local housing market. The following is a look at home sales in Lane County for December 2023.   New Listings   New listings (177) increased 1.1% from the 175 listed in December 2022, and decreased 43.5% from the 313 listed in November 2023.   Pending Sales   Pending sales (208) increased 5.6% from the 197 offers accepted in December 2022, and decreased 11.9% from the 236 offers accepted in November 2023.   Closed Sales   Closed sales (215) decreased 8.1% from the 234 closings in December 2022, and decreased 13.0% from the 247 closings in November 2023.   Inventory and Time on Market   Inventory decreased to 2.7 months in December. Total market time decreased to 50 days.   Year-to-Date Summary   Comparing the twelve months of 2023 to the same period in 2022, new listings (4,738) decreased 12.0%, pending sales (3,614) decreased 27.5%, and closed sales (3,561) decreased 21.5%.   Average and Median Sale Prices   Comparing 2023 to 2022 through December, the average sale price has decreased 1.0% from $475,400 to $470,600. In the same comparison, the median sale price has decreased 0.7% from $436,000 to $432,900.   Have An Awesome Week!   Stay Healthy! Stay Safe! Remain Positive! Trust in God!     THIS WEEKS HOT HOME LISTING! 1879 ADELMAN LOOP, EUGENE, OR Price: $445,000 Beds: 3 Baths: 2.5 Sqft: 1888 This adorable home is turnkey ready and features an open two-story floor plan, that's nestled in a charming neighborhood, with close proximity to a park. This 3-bedroom, 2.5-bath home offers an open concept with a large living space that leads to th… View this property >> AND HERE'S YOUR MONDAY MORNING COFFEE!! Sincerely, Galand

Galand Haas, Keller Williams Realty Eugene and Springfield
2645 Suzanne Way Suite 2A, Eugene OR 97408
Direct: (541) 349-2620


Visit http://www.eugeneareahomesearch.com