A recent national study by Zillow said that prices were falling for 80% of homes in America. Some might be skeptical about that percentage and rightly ask, "Where in the country is that 20% where the real estate sunshine is shining?"
It is not yet shining here.
But then again it might be.
As you can see from the chart below, the Median Residential Sales Price for Lane County (including Eugene, Springfield, Cottage Grove, Veneta, Junction City, Creswell, Lowell, Oakridge, Westfir, Coburg, and Florence) hit a three and a half year low in January of this year. It dipped below $200,000 for the first time since mid-2005.
Then that measure of central tendancy (the value of the "average" house sold) ticked up above $200,000 in February and March...only to drop back below that magic mark in April.
Will April showers bring May flowers? Is the local home price forecast for Partly Sunny? Or will it be Mostly Cloudy. Will the rains of buyer market winter come again? Or is homeseller summer really here?
Oregonians may be wondering how much Rain is going to fall before the Fourth.
But there's more than Barbequeing, Picnics, and Outdoor Wedding Receptions at stake here.
We need to see that Lane County Median Residential Sale Price go up in May and June and July before saying goodbye to REALTOR rain for a while.
My daddy always said,"Don't cut your hay before the Fourth!". Until then, here in "God's Country", anything is possible.
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Jim Hale
Principal Broker / Owner
Graduate, REALTOR Institute e-PRO
2012 Member, Million Dollar Club of Lane County
2012 Member, Real Estate Brokers Million Dollar Club
actionagents.net
1715 Linnea Avenue
Eugene, OR 97401-1962
Office: 541-484-0219
Direct: 541-543-9991
Fax: 541-485-8068
Eugene Oregon Homes / Real Estate jim@actionagents.net
All statistical market data is based on information from the RMLS of Oregon for the dates indicated.
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