Eugene, Oregon Real Estate Market Reports

In October, inventory remained flat month-over-month in Eugene. Buyer activity, as measured by pending sales, is down 19% year-over-year, but new listing activity is down almost as much. Meanwhile, the median time spent on the market actually decreased, falling to 10 days. There’s one big surprise in October’s numbers, however: Eugene’s median sale price plummeted to just $418,000 in October. That’s a decline of 4% year-over-year and a whopping 13% month-over-month. Prices have remained remarkably stable in Eugene over the past few months, even as mortgage rates have climbed higher and higher. So, what changed in October? The answer: a…

Prices are holding steady at all-time highs in Eugene. Meanwhile, buyer activity is down year-over-year, but not by a lot, and Eugene is still very, very much a low inventory market. Homes are staying on the market longer than in previous years, but 12 days is still plenty brisk, especially compared to a lot of other markets right now. In other words, Eugene’s real estate market remains largely insulated from the broader trends we’re seeing across the country. Rates are up to an average of around 6.5% in Oregon for a 30 year fixed-rate mortgage. That’s certainly kept some buyers…

Another month has gone by, and prices are still holding steady in Eugene. August’s median sale price of $480,000 matches Eugene’s record high (the preliminary data inflated July’s numbers a bit). Meanwhile, buyer activity is down significantly year-over-year, but new listings have dropped a similar amount. As a result, inventory stayed flat at 1.1 months. Eugene’s housing supply is extremely low, and that’s why the market has been able to hold its value even as mortgage rates have surged during the past few months. Time spent on the market is up significantly, hitting a median of 11 days, but homes…

Yes, buyer activity is down a fair amount year-over-year in Eugene. But that didn’t stop sale prices from reaching a record-high of $479,000, 3% higher than a month earlier. There’s a lot of talk going on about how high interest rates are keeping buyers out of the market. It’s often overlooked, though, that high rates are also discouraging sellers from listing their homes, assuming they need to finance the purchase of a replacement property. New listings are down 14% year-over-year in Eugene.  Inventory is now up to one month, and Eugene’s market feels a lot less tight now than it…

If you’re a buyer waiting for things to cool off a bit before you dip your toes in Eugene’s market, it might be time to reassess the situation. Eugene’s market is hardly cooling at all, in spite of all the reports we’re seeing nationwide about hot housing markets falling back to earth.  Through May, homes sold for an average of 3.6% over list price. May’s median sale price of $463,000 is 3% lower than April’s record high of $478,000, but the trendline is still intact: prices in Eugene have yet to flatten. So why is Eugene’s market bucking the trend…

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…