Lane County Housing Market Data: 2024

Lane County Oregon Housing Market Banner

Housing Market Trends: Lane County Oregon

Welcome to our Lane County Housing Market Data page, a comprehensive resource designed to keep you informed about the latest trends and statistics in Lane County's real estate market. Whether you're planning to buy your dream house in Lane County 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 Lane County'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 Lane County Oregon.

* Exluded from the real estate data are: condos, townhomes, mobile homes


May 2024 Real Estate Highlights: Price Upticks and Fast Sales Across Lane County

In May 2024, Lane County observed a rise in the median home price to $577,000, with available inventory increasing to 618 homes. The average price per square foot reached $313, reflecting a surge in high-end rural properties. Eugene remains the most expensive area in the county, boasting a median price of $619,000 and the highest quick sale rate, with 50.7% of homes entering contracts within the first seven days. Meanwhile, Springfield displayed a hot seller's market with a market action index of 49 and a median price of just under $560,000, offering relatively more affordable homes compared to Eugene and Lane County overall. 

Real Estate Market Trends

Lane County, Eugene, Springfield Market
Action Index
Median
List Price
Price per
Sq Foot
Median Days on Market Available Homes for Sale
Lane County 44 $577,000 $313 42 618
Eugene Market 47 $619,000 $310 35 256
Springfield Market 49 $559,990 $312 35 111

How Quickly Homes are Selling

Lane County, Eugene, Springfield 0-7 Days 8-30 Days 31-60 Days 61-90 Days 90+ Days
Lane County 44.4% 21.2% 11.9% 4.6% 17.9%
Eugene Market 50.7% 21.3% 12.5% 2.9% 12.5%
Springfield Market 39.5% 25.0% 13.2% 3.9% 18.4%

How Buyers are Paying for Homes

Lane County, Eugene, Springfield Cash Conventional FHA VA Other
Lane County 28.8% 51.0% 12.3% 4.6% 3.3%
Eugene Market 34.6% 44.9% 13.2% 4.4% 2.9%
Springfield Market 15.8% 67.1% 11.8% 3.9% 1.3%

Lane County Housing Insights: April 2024 Uptick in Sales and Market Activity

In April 2024, the Lane County real estate market showed positive signs of activity, marked by a slight increase in median list prices, indicating a continuous appreciation of home values. The median list price rose from the previous month, coupled with an increase in the number of homes available on the market, which grew to 533 listings. This rise in inventory is typical for the season, suggesting that more sellers are entering the market as spring progresses.

A significant decrease in the median days on the market, from 49 days to 28 days, highlights a faster pace of sales, demonstrating heightened market activity. This quicker turnover is supported by the fact that 42% of homes sold within the first seven days of listing, and nearly two-thirds of homes, 63.7%, were sold within the first 30 days. Such data reflects a robust demand and efficient market where listings are moving rapidly.

The Market Action Index for Lane County stood at 45, in contrast to Eugene and Springfield, both at 50. This lower index suggests a more relaxed market dynamic in the smaller towns and rural areas of Lane County, which may offer more opportunities for buyers seeking less competitive conditions.

Overall, Lane County's real estate market in April 2024 was characterized by brisk sales, growing inventory, and a slight uptick in property values, pointing to a healthy and active market as we move deeper into the spring season.

 

Real Estate Market Trends

Lane County, Eugene, Springfield Market
Action Index
Median
List Price
Price per
Sq Foot
Median Days on Market Available Homes for Sale
Lane County 45 $565,000 $308 42 533
Eugene Market 50 $595,000 $312 35 211
Springfield Market 50 $505,445 $296 35 102

How Quickly Homes are Selling

Lane County, Eugene, Springfield 0-7 Days 8-30 Days 31-60 Days 61-90 Days 90+ Days
Lane County 42.0% 21.7% 10.2% 2.7% 23.5%
Eugene Market 46.9% 23.1% 8.5% 2.3% 19.2%
Springfield Market 50.0% 25.0% 10.0% 2.5% 12.5%

How Buyers are Paying for Homes

Lane County, Eugene, Springfield Cash Conventional FHA VA Other
Lane County 25.2% 51.8% 14.6% 5.8% 2.7%
Eugene Market 28.5% 53.1% 11.5% 3.8% 3.1%
Springfield Market 17.5% 60.0% 17.5% 5.0% 0.0%

Lane County's Spring Market: March 2024 Real Estate Heats Up 

As winter melts away and spring blooms, the Lane County, Oregon housing market is coming alive with activity. March 2024 data reveals a market that's as hot as a sunny Oregon afternoon, with rising prices, quick sales, and eager buyers ready to make their move. Sellers are in the driver's seat, as the median list price soars to $549,000 and homes are snapped up in a median of just 49 days. Yet, with inventory slightly up and diverse financing options available, savvy buyers can still find their perfect home in this competitive landscape. Whether you're a seasoned investor or a first-time homebuyer, the Lane County real estate scene is the place to be this March. Get ready to spring into action and make your real estate dreams a reality in this sizzling market!

 

Real Estate Market Trends

Lane County, Eugene, Springfield Market
Action Index
Median
List Price
Price per
Sq Foot
Median Days on Market Available Homes for Sale
Lane County 44 $549,000 $308 49 499
Eugene Market 50 $564,900 $317 28 185
Springfield Market 49 $439,995 $305 35 88

How Quickly Homes are Selling

Lane County, Eugene, Springfield 0-7 Days 8-30 Days 31-60 Days 61-90 Days 90+ Days
Lane County 32.4% 16.0% 8.6% 9.0% 34.0%
Eugene Market 39.2% 19.2% 8.3% 9.2% 24.2%
Springfield Market 25.0% 14.6% 12.5% 14.6% 33.3%

How Buyers are Paying for Homes

Lane County, Eugene, Springfield Cash Conventional FHA VA Other
Lane County 22.5% 55.3% 13.9% 4.9% 3.3%
Eugene Market 19.2% 63.3% 7.5% 4.2% 5.8%
Springfield Market 20.8% 47.9% 27.1% 4.2% 0.0%

Lane County Oregon Housing Market: February 2024

The February 2024 data for Lane County, Oregon, shows that nearly one-third of homes are on the market for over 90 days before going under contract. This trend indicates that demand is lower in the smaller towns and rural areas of Lane County, compared to the cities. The diverse landscape of the county, which includes urban, small town, and rural regions, reflects varying levels of real estate activity and interest. Lane County's supply of inventory fell to 2.3 months, indicating sellers are on the fence about listing their home on the market. In Springfield, homes are selling faster and at lower prices than in Eugene, reflecting different market dynamics. Cash purchases are more prevalent in Eugene compared to Springfield. The data also shows that homes in Lane County are selling at varying speeds, with a significant number selling within the first week.

Real Estate Market Trends

Lane County, Eugene, Springfield Market
Action Index
Median
List Price
Price per
Sq Foot
Median Days on Market Available Homes for Sale
Lane County 41 $495,000 $301 84 460
Eugene Market 48 $534,500 $305 77 157
Springfield Market 44 $432,450 $291 42 85

How Quickly Homes are Selling

Lane County, Eugene, Springfield 0-7 Days 8-30 Days 31-60 Days 61-90 Days 90+ Days
Lane County 20.7% 14.9% 18.3% 14.9% 31.3%
Eugene Market 25.9% 15.7% 17.6% 13% 27.8%
Springfield Market 17.1% 22% 19.5% 14.6% 26.8%

How Buyers are Paying for Homes

Lane County, Eugene, Springfield Cash Conventional FHA VA Other
Lane County 25% 51.9% 10.6% 6.7% 5.8%
Eugene Market 26.9% 53.7% 10.2% 7.4% 1.9%
Springfield Market 12.2% 65.9% 7.3% 7.3% 7.3%

Lane County Oregon Housing Market: January 2024

  • Market Overview: Lane County's housing market is characterized by a median list price of $539,000, demonstrating remarkable stability. The market action index stands at 39, signifying a slight seller's advantage. This balanced equilibrium ensures a favorable environment for both buyers and sellers.
  • Median List Price and Pricing: The median listed price in Lane County is currently at $539,000. Additionally, the average price per square foot stands at $293, offering valuable insights into property values.
  • Inventory Insights: Inventory levels have maintained consistency, with approximately 570 properties available for those seeking home ownership. This stability in supply underscores the robust nature of Lane County's real estate market.
  • Days on Market: Properties in Lane County are on the market for an average of 124 days, with a median days-on-market of 91. This balanced timeframe allows prospective buyers and sellers ample opportunity to navigate the market with confidence.
  • Price Changes: Lane County's real estate market has experienced a 37% decrease in prices along with a modest 2% increase, indicating a degree of pricing volatility. This presents opportunities for both negotiation and investment.

housing inventory graph Lane County oregon Jan 2024

*Graph provided by altos.re

In summary, Lane County, Oregon's real estate market reflects a balanced and dynamic landscape, offering opportunities for both buyers and sellers. With a slight advantage for sellers, this market provides a favorable environment to explore homeownership and real estate investments. Whether you're entering the market as a buyer or seller, the team at Heart & Home Real Estate is here to guide you through your real estate journey. Stay informed and seize the opportunities Lane County has to offer in the realm of homeownership.

Post a Comment