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Lane County home sales continue upward trend

Published on March 5, 2018 10:11AM

Lane County homes sales got off to hot start in 2018.

In January, the number of closed and pending sales and new listings all were considerably higher than in the first month of 2017, according to the Regional Multiple Listing Service in Portland.

The average and median sales prices also were up from a year earlier.

“January brought waves of warm real estate activity to Lane County almost across the board,” RMLS said in its monthly real estate report.

The active sellers’ market pushed the number of closed sales in Lane County, excluding the Florence area, to 326, up 19 percent from January 2017, RMLS said.

At 425, pending sales rose 34 percent compared to the year-earlier month and were the strongest January for pending sales in RMLS records dating back to 2001.

The 426 new listings in January were 91 percent higher than the 223 in December and up 33 percent from January 2017, RMLS said.

Home prices rose robustly, too.

The average sales price in January rose 8.7 percent from January 2017, reaching $289,700, according to RMLS.

The median sales price in January of $266,800 was 14.6 percent more than the $232,900 in the first month of 2017, RMLS said.

The time it took to sell a Lane County home in January dropped from 72 days last year to 66 days this year, according to RMLS.

Meanwhile, the inventory of Lane County homes for sale in January was 1.7 months, compared with 2.1 months in January 2017, RMLS said.

The inventory number is based on how long it would take to sell the entire stock of for-sale homes at the current sales pace.

An inventory of less than six months generally fuels a sellers’ market.

Lane County hasn’t had an inventory of six or more months since 2012.

RMLS tracks real estate activity in Lane County by 19 geographic areas.

For January, south Lane and Springfield, excluding Thurston and Hayden Bridge, had the most home sales.

The median sales price of 33 home sales in south Lane last month was $273,900, RMLS said.

The median sales price of 31 Springfield homes in January was $184,000, according to RMLS.

In the Florence area, RMLS reported, that closed sales increased from 23 in January 2017 to 32 in January.

Pending sales in the Florence area grew from 37 in January 2017 to 52 in January 2018, an increase of 40.5 percent, RMLS said.

The average and median sales prices of Florence-area residential real estate dropped in January from the year-earlier month, according to RMLS.

January’s average sales price of $189,800 was 21 percent less than the $240,500 average price in January 2017, RMLS said.

January’s median sales price of $169,000 was 17 percent lower than the $203,000 median price in January 2017, according to RMLS figures.

The time it took to sell a home in the Florence area dropped from 152 days in January 2017 to 107 days in January 2018, RMLS said.

Follow Ed Russo on Twitter @edwardrusso . Email .


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