Eugene Real Estate Market Update: September 2024

Eugene Real Estate Market Update: September 2024

Whether you’re starting your home search in Eugene or just love tracking local home prices, I’ve got you covered. Today we’re taking a look back at the Eugene Real Estate Market for September 2024.

Hey everyone, I’m Bryn Cook with Hearthstone Real Estate, here in Eugene, Oregon. Today, we’re diving into September 2024’s data for detached single-family homes, and comparing it to both last month, August 2024, and this time last year, September 2023.

In September 2024, 125 homes were sold in Eugene, with a median sales price of $525,000. Homes spent a median of 14 days on the market, and sellers received 100% of their list price, on average. Now, let’s break that down and see how it compares to the past.

Compared to September 2023, we’re seeing fewer homes sold this year—down from 144 homes last year to 125 this year. However, the median sales price has jumped from $498,000 in 2023 to $525,000 this year, which reflects over a 5% increase from this time last year and the continued demand for housing in Eugene despite fewer transactions.

Days on the market have also increased slightly from 11 days to 14 days, which isn’t drastic but suggests that homes are taking just a bit longer to sell. And while last year sellers were getting around 99.8% of their list price, this year that number has hit 100%, meaning many sellers are still getting their full asking price.

Now, looking at the most recent comparison, let’s see how September 2024 stacks up against August 2024.

In August, 170 homes sold—quite a bit more than September’s 125. However, the median sales price in August was lower, at $481,500 which had taken a dip from the previous month, but that number jumped right back up in September to $525,000. That’s a significant increase of over 9% in just one month!

Homes also spent more time on the market in August, with a median of 18 days, compared to 14 days in September. And the percentage of list price received was lower in August, at 99.28%, compared to September’s 100%.”

So what does this all mean?

We’re seeing fewer homes sold as we transition from summer to fall, which is typical for this time of year. However, the demand for homes is still strong, as reflected in the rising median sale price and the fact that sellers are consistently getting 100% of their asking price.

If you’re thinking about buying, this could mean competition remains high, but there’s also potential opportunity as homes may stay on the market a little longer. For sellers, it’s still a great time to list, especially with prices continuing to rise.

I hope you found this information helpful. I’d love to hear from you. You can call, email, or leave a comment down below. I work hard to stay connected.