In April, Eugene saw the single largest month-over-month price hike on record. The median sale price for all residential properties rose 10% to $478,000.
Meanwhile, inventory largely remained flat, but there were 15% more new listings in April than pending sales.
During the spring season, it’s typical to see inventory start to increase. We aren’t seeing a big surge that would indicate too many buyers are shying away from Eugene’s market due to higher mortgage rates, which have hovered around 5.5% locally.
We predict that there will be an incremental shift toward less buyer activity, and it’s tempting to imagine that prices will flatten from here. There are no guarantees, though. For now, the spring buying season is just as frenzied as ever in Eugene.
