Your thinking of buying your next home in Eugene, but you are wondering where we currently are in the Eugene real estate market? That’s what we’re digging into today. Let’s go.
Today we’re taking a look at the market data in Eugene for the month of
April 2024. There are a ton of agents and lenders out there who provide market updates. It’s important that you know what data they are tracking and for what timeframe they are showing. For example, weekly data tells a very different story than if you look at annual information. Make sure that the reports that you are viewing outline the parameters that you care about.
I track what matters most to the clients who I generally work with. I primarily work in Eugene and so I track single-family homes in Eugene. These numbers do not include the outlying areas including Springfield nor does it include condos or multi-unit properties. If you have questions about the surrounding areas or even specific parts of town, please reach out and I can pull a report specifically for you.
When I track the real estate market, I like to look at four data points. I take note of:
- Median sold price, the price for which the home ended up selling for
- Median days market, which is the time it takes for the seller to accept an offer on their home
- Sales price to list price percentage, which is the price that the home ultimately sold for compared to what it was listed for on the market
- Number of homes sold in that particular length of time to gauge sales volume
Here’s where we’re at for April of 2024. The median sold price in Eugene was $489,000. The median days on the market for those homes that sold was 8 days. The ending sold price to list price percentage was just under 99%, which means homes were selling slightly under the list price. That means buyers were getting some good deals out there. And there were 129 homes sold in Eugene in April.
Let’s take a look at how that compares to this timeframe a year ago. In April of 2023, the median sold price was $495,000, so prices have dropped by just over 1% from this time last year. It’s not a significant drop, it’s just leveling out a bit. Last year median sales price to list price percentage was just over 101%, so buyers had to pay over the home’s list price to have their offer accepted. The days on the market and the number of homes sold have stayed relatively consistent from this time last year.
Now let’s look at how April compares to the last month in March of 2024. In March of 2024, the median sold price was $500,000. That means prices have dropped by just over 2% from month to month. It’s not a significant drop more like a slight dip. Last month’s median sales price to list price percentage was just over 97%. Buyers had the advantage when it came to getting their offers accepted. We bumped up slightly in April, but buyers were still typically paying under the list price. The days on the market have reduced by a full week from where it was last month. Last month it took a median of 16 days for sellers to accept an offer and the number of homes sold has stayed relatively consistent from this time last year at 8 days.
What does this information mean to you? If you are in the market for a home? The median home price in Eugene real estate has flattened out both from this time last year and from last month. If you can afford to purchase, it’s a great time to move forward and you could be in a position to get a good deal on your next home.
I’d love to hear from you. You can call, text, or leave a comment below. I work hard to stay connected.
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