February 2023 Eugene Real Estate Market Report

Last Updated March 7, 2023

Eugene’s median sale price was down 4% month-over-month in February as home prices continue to zigzag. The numbers suggest, though, that this isn’t the beginning of any kind of trend. Overall, homes spent significantly less time on the market than they did in January, down from a median of 32 days to just 19 days. Things are moving slower than they did a year ago, but compared to elsewhere, Eugene’s market is plenty brisk. 

Additionally, homes sold in February for an average of 95.7% of their original list price, compared to 94.8% in January. Basically, there’s just more activity right now at the lower end of Eugene’s market, so even though prices appear to be dropping, home values aren’t necessarily decreasing. 

February’s new listings hit the market at a median ask price of only $405k, so this trend could continue until we hit the spring months. Sellers with higher end properties are choosing to wait for the weather to turn, and that may be true of buyers as well. 

Eugene’s luxury market is much less active than Bend’s, but with what little sale data we have over the past few months, there appears to be a big increase in time spent on the market – a 79 day median for $1 million-plus homes, to be precise. Apart from that, however, there isn’t a clear correlation between market segment and number of days on the market.