Eugene, Oregon Real Estate Market Reports

Inventory is up and prices are down. That’s exactly the scenario that Eugene’s buyers have been waiting for, right? Well, not so fast. No discussion of the real estate market in March is complete without mention of the significant mortgage rate increases we’ve seen over the past few weeks. In Oregon, 30-year-fixed rates are hovering right around the 5% mark. That means home shoppers have less buying power than before, and it’s natural that prices would start to ease off. That trend will be short-lived though. We’re just entering into the beginning of Eugene’s usual spring buying frenzy, and there…

It keeps happening month after month, but Eugene’s inventory of residential properties dropped to record lows again in February. Unsurprisingly, sale prices climbed to record highs, though Eugene’s 2% month-over-month appreciation is still well behind what we’re seeing right now in Bend.  At the same time, new listings are up more than pending sales year-over-year, so we should be right at the edge of a (minor) reversal. More inventory will mean more choices for buyers in the spring, but there’s going to be competition. It’s been an exceptionally barren winter for home shoppers at all price points in Eugene, and…

Through the first month of 2022, inventory increased slightly, with new listings up 45% month-over-month. That’s a promising signal if you’ve been looking for a home in Eugene and have started to feel discouraged. But prices are up too, rising 4% month-over-month to a median sale price of $440,000 in January. That isn’t surprising. Inventory reached a record low of just 0.4 months in December, creating the conditions for exceptional competition among buyers. Sellers took advantage, with list prices hitting a record of $445,000. Even though January’s sales numbers are low, that’s more a reflection of limited choices than a…