March 2023 Eugene Real Estate Market Report

Last Updated April 10, 2023

Inventory is holding steady in Eugene as we approach the warmer months, with buyer activity roughly on par with seller activity. Basically, while Eugene’s market isn’t as hot as it was a year ago, there are still less homes to go around than there were at pretty much any point prior to the pandemic. High interest rates are keeping a lid on prices, but March’s median sale price of $441k is still 1% higher than it was last year. In March, homes sold for an average of 97.8% of list price, compared to 95.7% in February.

Homes still aren’t selling as quickly as they’ve tended to in Eugene over the past few years, but we’re seeing buyers start to get more eager than they were during the winter months. In March, new listing activity increased significantly in the $500k+ range, indicating that sellers in the middle to upper end of Eugene’s market are starting to warm up to the idea of selling their homes.

During the spring, we expect these trends to continue. Prices will increase somewhat, though they won’t reach the highs that we saw last summer and early fall. Still, especially if mortgage rates continue to drop, there may be a decent surge of activity both for buyers and sellers.