September 2022 Eugene Real Estate Market Report

Last Updated October 17, 2022

Prices are holding steady at all-time highs in Eugene. Meanwhile, buyer activity is down year-over-year, but not by a lot, and Eugene is still very, very much a low inventory market. Homes are staying on the market longer than in previous years, but 12 days is still plenty brisk, especially compared to a lot of other markets right now.

In other words, Eugene’s real estate market remains largely insulated from the broader trends we’re seeing across the country. Rates are up to an average of around 6.5% in Oregon for a 30 year fixed-rate mortgage. That’s certainly kept some buyers out of Eugene’s market, but there are plenty of others who haven’t been fazed.

Things may start to shift in the fall months. Buyer enthusiasm could dry up further, especially with mortgage rates creeping upward. If you’re selling, it might be tempting to make premature price reductions, even though Eugene’s market conditions don’t yet merit a drastic change of approach. It’s still very much a seller’s market here, but patience is now the name of the game.