Eugene Housing Market Data: 2024
Housing Market Trends: Eugene Oregon
Welcome to our Eugene Housing Market Data page, a comprehensive resource designed to keep you informed about the latest trends and statistics in Eugene's real estate market. Whether you're planning to buy your dream house in Eugene or sell your home with our 1.95% Listing Advantage, understanding the current market dynamics is crucial for making informed decisions. Each month, we’ll analyze key real estate metrics and summarize their implications for our local housing market, providing you with a clear picture of what's happening in Eugene's housing landscape. Our data is collected from our local MLS and Altos.re, ensuring that both buyers and sellers have access to accurate and relevant information. Stay tuned for our monthly updates and insights, empowering you to make the best real estate choices in Eugene.
* Exluded from the real estate data are: condos, townhomes, mobile homes
Eugene Oregon Housing Market: January 2024
- Mortgage Rate Update: Today, 30-year fixed mortgages are averaging 6.75%, a key factor to consider when navigating Eugene's real estate scene. It's worth noting that if this rate surpasses 7%, we anticipate a potential slowdown in the market. Conversely, if it drops below 6.5%, we anticipate a busier real estate selling season.
- Market Insights: Eugene's real estate market currently offers a slight advantage to sellers, with a Market Action Index (MAI) holding steady at 42, mirroring the previous month's data. What this means is that there is a favorable demand for homes compared to available inventory, creating an advantageous situation for sellers.
- Pricing Details: The median list price in Eugene stands at $599,450, representing the midpoint of property prices in our vibrant community. Remember, this is the list price and not necessarily the final selling price, which may vary based on negotiations.
- Inventory & Sales: With inventory dwindling to 176 properties (based on a 7-day average), the market remains relatively stable in terms of sales to inventory ratios. This equilibrium indicates a balanced market where properties are being sold consistently relative to what's available.
- Monthly Day Supply: Our Monthly Day Supply stands at 1.5 months, calculated by dividing available homes by the last 30 days of homes in contract. This metric provides valuable insights into the pace of the market, highlighting the current supply and demand dynamics.
- Price Trends: While prices haven't experienced significant increases in recent weeks, the limited inventory continues to keep the market in the seller's favor. Stable or slightly rising prices may encourage sellers to list their properties.
- Average Price per Square Foot: The average price per square foot for properties in Eugene is $304, offering a more precise measure of property values, accounting for variations in size.
- Days on Market: Properties in Eugene are typically on the market for an average of 106 days, with a median of 84 days. Keep in mind that individual property listings may vary in terms of their time on the market.
- Price Adjustments: Approximately 48% of listings have experienced price adjustments, suggesting that some sellers are making price adaptations to attract potential buyers in the current market conditions.
*Graph provided by altos.re
At Heart & Home Real Estate, we're dedicated to keeping you informed about Eugene's real estate landscape. Our expert team is here to guide you through this exciting journey, whether you're buying or selling. Stay tuned for mortgage rate updates, as they significantly impact the dynamics of our market. Feel free to reach out to us with any questions or for personalized assistance.