According to stats given by RMLS in Oregon closed sales in Lane County ended up being reduced 20.5% this September when compared to September of 2009. New listings diminished 13.1% and worse yet, pending sales fell 31.7%. At the pace of September’s sales rate Lane County will have 10.4 months of inventory. That might seem like dreary news, unless you look at the 14.1 months of supply we had available on the market in January 2010. While sales are low, pendings are down, and yes new listings are down too there's certain similarities. The total days on market for homes listed (The list day until the time the house proceeded to go pending) continued to be the same; at 119 days on market. The time of the 3 month listings are gone. All of the sellers on the market please take note… The typical home on the market in Lane County will need 4 months to obtain an offer! This really is average. The higher listed you are in comparison with your competition the less “average” you are.
While many neighborhoods in the Eugene-Metro area still suffered decline throughout the last year, there are a few bright spots. Congratulations are in order Ferry Street Bridge! You are the only area in Eugene Oregon that actually appreciated in Eugene in the last 12 months. In accordance with Information taken from RMLS Oregon, Ferry Street Bridge observed a 4% increase of the average sales price. Data tells me this can be appreciation – Experience tells me that the upper end homes listed for sale in Ferry Street Bridge are ultimately starting to sell. Statistics are statistics folks. Either way, Ferry Street Bridge is experiencing something that the remainder of Eugene is not… for now anyway.
Who else is feeling light at the end of the real estate tunnel? It's Mohawk Valley! Mohawk Valley also noticed a boost in the average sales price, a notable 7.1%. Even though Pending sales are down a whopping 66.7% .Those 19 owners who sold their properties this year should be gleaming with delight.
Alright, my monthly report would not be comprehensive without some not so good news. Sorry North Gilham and Coburg Oregon, the real estate market isn't so compassionate for you as your neighbor Ferry Street Bridge. Coburg Oregon is down 12.1%, while North Gilham has declined 12.6% for average sales volume. That is probably not good news if you currently own a home in these locations, but if you are searching for a great Eugene real estate market to buy in, this might be the location.
Eugene Oregon Real Estate
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