Eugene Housing Market
Currently Eugene and Lane County's housing supply sits at 2.2 months (Sept 2017) Months of Inventory. This number states that if home sales were to continue at their current pace, and no new homes were added for sale- we would be out of homes to sell in 2.2 months. Realtors follow this number closely as it determines what kind of market we are in: Buyers market or Sellers market. 2.2 months worth of homes to sell is definitely a sellers market; and below we define the markets.
Sellers Market: 0-4 months of inventory. The closer to 0 the stronger the market is for a seller. We have been in a sellers market since March 2015. In this market, buyers are paying a premium for their home & often don't have much room to negotiate because of strong buyer demand (other buyers competing and willing to pay at or above market value for a home).
Neutral Market: 4-6 months of inventory. We have not been in a neutral market since February 2015. In this market, bidding wars are few, and a little more 'ping pong' negotiations take place where sellers & buyers counter back & forth to find a win/win in price and terms to enter into a contractual agreement.
Buyers Market: 6+ months of inventory. In this market, there are lots of homes for sale & fewer buyers in the market looking to purchase. Buyers have the best ability to negotiate in a strong manner against sellers who are willing to sell their home at or below market value. Sellers need to price their home right to be competitive in this market.
Often times we'll see different stages according to home prices. In Lane County, homes under $350,000 tend to be in a stronger sellers market, where homes north of $500,000 are in a more neutral market.
If you have real estate questions, please feel free to contact us. We are grateful to help and assist you here in Lane County.
Blog Archive2017-10-12 15:05:20
Eugene Housing Market
Eugene OR Real Estate Market- Sept 2017
Eugene Housing Market Trends- 02/2017
How to Sell Your Home Fast in Lane County Oregon
Eugene Housing Market Shift?
Eugene Real Estate Market
Hottest Sellers Market in Eugene Oregon- 97404
Springfield Housing Market
Eugene Housing Trends
Real Estate Market Trends- Eugene Oregon
What Every Home Buyer Needs to Know
Lane County Homes- Sales Report- Jan 2015
Lane County Homes- Sales Report- Dec 2014
FHA Lowers Mortgage Insurance Rate
Lane County home values continue to rise
Lane County Homes Sales Report- April 2014
Lane County Short Sales & Bank Owned Homes
Lane County Homes Sales Report- March 2014
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Lane County Homes Sales Report- February 2014
Lane County Homes Sales Report- January 2014
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Lane County Homes Sales Report- December 2013
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