Market Action Update for Lane County 2008

Here is a little info on the current market in our area...

March Residential Highlights
Looking at March 2008 compared with March 2007, the number of new listings decreased 9.5%. Additionally, the number of closed sales declined 29.1% and pending sales decreased 28.7%. See table above. At the month’s rate of sales, the 2,074 active residential listings would last 8.4 months.


First Quarter/Year-to-Date
When comparing market activity for January-March 2008 with the same period in 2007, new listings fell 1.5% (1,770 v. 1,796). Closed sales dipped 30.3% (643 v. 923) and pending sales decreased 27.4% (809 v. 1,309).


Appreciation
Comparing the average sale price for the 12 months ending in March 2008 with that of the 12 immediately prior, it appreciated 2.3% ($264,500 v. $258,500). Using the same formula, the median sale price increased 2.1% ($232,900 v. $228,000).

All information from Market Action March 2008 provided by RMLS



Tawnya Madsen, Broker

Tawnya@AlternativeRealtor.com

541.729.2350