October 2023 Eugene Real Estate Market Report

Last Updated November 8, 2023

In October, inventory dropped slightly in Eugene from 2.2 to 2 months, and meanwhile, prices stayed pretty much flat at a median of $457,500. We expect a similar trend heading through the fall and into the winter: inventory isn’t going to shift significantly, and prices shouldn’t shift too much.

What has shifted, however, is the amount of time that properties are spending on the market. In October, homes spent a median of 20 days on the market, double what we saw a year ago. The important thing, if you’re a seller, is not to panic: Eugene’s market has not shifted fundamentally even as mortgage rates have. 2 months of inventory is still quite low, and inventory is even lower in some of Eugene’s more desirable neighborhoods.

We offered the same advice to Bend sellers, but we’ll repeat it here too: don’t be too eager to offer buyers concessions straight out of the gate. We’re very, very far from fire-sale territory in Eugene, and it’s important to maintain a perspective that’s supported by the market data.