After reaching an all-time high in May, prices are back down 6% month-over-month in Eugene to a median of $455,000. That movement doesn’t appear to have any statistical significance. Homes sold for 98.9% of their original list price in June, compared to 98.4% in May. That means that people simply bought slightly less expensive homes in June.
With that being said, inventory is up in Eugene to 1.6 months. New listings were up 27% month-over-month, while pending sales were down 4%. If you’re a buyer, you’re probably hoping that this trend will continue and that prices will flatten heading into the summer and fall. At the same time, if mortgage rates do start to drop, that could lead more buyers to enter the market, driving prices back up again.
