Lane County is still in a seller’s market, but the right time for buyers to buy is now.
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The median home price has risen a little over 10% from $230,000 to $254,000 in the past 12 months.
Buyers shouldn’t look at these numbers and consider this a bad situation, though, because the market continues to rise and interest rates are still low. If you were to put off buying for a year, the same homes available now would cost 10% more to buy. In other words, the sooner you buy, the better off you’ll probably be.
In summation, we’re in a strong market, and it will continue to be a strong market for the next couple years. If you have any questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d be happy to help you!
As you know, we’ve been in a seller’s market for quite some time in Lane County, and according to the latest reports, we basically still are.
680 new listings came on the market last month, which is a good sign. Still, we can’t say inventory is rising, because we also had 519 new properties close and 524 go under contract.
We’re still at about two months of inventory. To put that into perspective, the normal level of inventory for Lane County is six months. This means that if no new homes came on the market starting now, we’d be completely out of homes to sell in two months.
680 new listings came on the market last month, which is a good sign. Still, we can’t say inventory is rising, because we also had 519 new properties close and 524 go under contract.
We’re still at about two months of inventory. To put that into perspective, the normal level of inventory for Lane County is six months. This means that if no new homes came on the market starting now, we’d be completely out of homes to sell in two months.
Our market is still strong and will be for the next couple years.
The median home price has risen a little over 10% from $230,000 to $254,000 in the past 12 months.
Buyers shouldn’t look at these numbers and consider this a bad situation, though, because the market continues to rise and interest rates are still low. If you were to put off buying for a year, the same homes available now would cost 10% more to buy. In other words, the sooner you buy, the better off you’ll probably be.
In summation, we’re in a strong market, and it will continue to be a strong market for the next couple years. If you have any questions about our market or you’re thinking of buying or selling a home, don’t hesitate to reach out to me. I’d be happy to help you!
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