Pending sales and new listings were up in the first month of the New Year, and so were home prices, rising 2% month-over-month to a median of $447,000. But time spent on the market also rose significantly, up 52% month-over-month to a median of 32 days.
We’re definitely not seeing a repeat of 2022, when buyers hit the ground running to start the New Year, competing fiercly for historically low inventory. In January, homes went for a median of just 94.8% of their original list price, a 3% month-over-month decline.
Homes are definitely still selling in Eugene – they’re just taking longer to do it. Prices have dropped much less than they have in other markets, and certain kinds of properties are just as much in demand as ever.
But sellers may be asking a bit more than the market can bear at the moment: list prices rose 5% month-over-month in January. How high you should aim depends entirely on your location, your level of finishes, and the level of competition.
