June 2022 Eugene Real Estate Market Report

Last Updated October 17, 2022

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 did in the late winter, when inventory dropped to all-time lows. One month is still super low, though, and there’s still plenty of competition.

In June, Eugene homes sold for an average of 1.8% above list price. Bidding wars are still a thing here, in other words. If listing activity continues to be low, prices will continue to hover around $480k or even increase slightly.