The Eugene-Springfield Oregon area has several different neighborhoods that are small communities within the cities. Most areas are divided by major landmarks such as Highways and Rivers. These areas typically have their own high schools, shopping centers, neighborhoods, and really seem to have their own unique sub-cultures.
Eugene has the South Eugene Hills property with small locally owned shops, South Eugene High School, a Rec Center, and access to many hiking trails and natural parks. West Eugene is home to Church Hill High School and is located near the Lorane-Crow-Veneta Area where you can enjoy our locally owned wineries and Fern Ridge Lake. The River Road-Santa Clara area is home to North Eugene High School and is separated from West Eugene by Hwy 99 and Ferry Street Bridge by the Willamette River. Many enjoy the larger lots in this area and the separation from “main stream” Eugene.” Ferry Street Bridge is home to Sheldon High School, as well as the popular private High School Marist High. Ferry Street Bridge is surrounded by the Pape’ Beltway, Delta Highway and I-5. Ferry Street Bridge is known for great shopping. It is here you can find the Valley River Mall, Oakway Center, several strip malls, and is just across the highway from the Gateway Mall. It is also home to the University of Oregon’s Autzen Stadium and miles and miles of gorgeous bike paths.
Springfield has four distinct areas in their town as well. Springfield Oregon is separated from Eugene by I-5. The Hayden Bridge Area of Springfield lies along the McKenzie River. Hayden Bridge has been a draw to many dense employment companies such as Symantec and the River Bend Hospital. Thurston is surrounded by the Thurston Hills is bordered by the McKenzie River. Located near Dexter Lake and incredible fishing up the McKenzie River Thurston is home to Thurston High School and the upscale Mountain Gate subdivision. Glenwood itself is an area of transition. Located near the University of Oregon, Glenwood is located to the south of Springfield and is one of the few areas approved for future development. Springfield itself is home to Springfield High School and the Gateway mall. When one thinks of “downtown” Springfield this is the area they are referring to.
Posted in Oregon Cities | Tagged Eugene, Eugene Oregon, Lane County, Springfield Oregon | Leave a Comment »
The March 2011 MLS Lane County report has been released. When looking at this data we can see that the number of closed sales increased in March when compared to February, as expected. However, when comparing March 2011 with March 2010 data shows a disappointing 17.5% decrease in sales. Even more staggering is that this March pending sales decreased 30.9% and new listings fell 33.8%.
Due to the increase is sales, the inventory has dropped from 12.4 months in January to a more appropriate amount of 8.6 months. With that said over the last year the average home sales price decreased by 9.9% with the median down 14.2%. Those numbers seem gloomy, but there is a bright spot. When comparing this March to the average home sales price of last month we saw the average price increase from $179,400 to $193,500 or 7.9%. The median home price rising from $159,100 to 169,900 (6.8%).
What do these statistical trends mean? Are we in a double dip recession of the real estate market? Maybe we will mark February 2011 of the bottom of this popped bubble. If that is true and the March increase is not a fluke, I have bad news for some of those buyers out there… If you were looking to buy at the bottom you missed it! Because that is what a bottom looks like. Is it really? I have no idea, but I sure hope it is.
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February Stats are in and it appears that the sales activity in the Greater Lane County area has decreased compared to February 2010. Closed sales were down 10.1% and pending sales were down a whopping 19.9%. With just a half month of inventory less than 2010, 2011 looks somewhat bleak. However this optimistic girl would like to point out that February was notably better than last month. Closed sales were up an unimpressive 4.6%, but pending sales increased 14.4%. That is what I am talking about! The good news for the sellers out there is that new listings actually decreased 12.1% with the number of new listings at 407 compared to 463 in January.
Hopefully that will give sellers the opportunity to sell those homes that have been just sitting on the market watching foreclosures and short sales exchanging hands. My gut tells me however that these numbers are most likely skewed. Those clever Realtors out there know that if you cancel a listing in December and relist it in January that listing will be assigned a new MLS number, making that listing appear fresh. At first glance, buyers may see this as “tricky”, however those agents are contracted to represent the seller and are looking out for their best interest. That may be good for sellers, but not my stats! As you can see in the graph below, historically new listings end the year as 300ish, but January it bumps to 500ish. I can assure you that it is not because January is a hot selling month.
The following graph displays the closed sales in Lane County over the last Three Years. You can see the 2011 number are a bit flat for this season of the selling cycle. I would expect to see a significant jump next month, but only time will tell.
Lastly, the most telling graph is the average Sales price over the past 10 years. When comparing this February with that of 2010 the average sales price decreased 15.4%, the median down 16.3%. When looking at the data from just last month we can see that the average sales price dropped from $197,800 to $179,400 (-9.3%), while the median price fell from $167,000 to $159,100 (-4.7%). Seasoned buyers know that the best opportunity to buy is in the slow Nov-Feb season. Personally I have seen experienced investors buying up investment properties left and right. When they are no longer able to sit on their hands because the deals are just too good I become confident. The indicators are presenting! Is this the bottom?
Posted in Market Statistics | Tagged Lane County, MLS, Oregon MLS, real estate, Realtor, Stat | Leave a Comment »
Florence Oregon is putting up a fight. That’s according to Oregon RMLS data. As per RMLS some regions of Florence have been seeing a pick up in the real estate market. Is there light at the end of this real estate tunnel? Not to be deceptive I must mention that the Florence region in general had dropped 13.6% on average in house sales value, however the Dunes City area saw a remarkable 9.7% gain during the last year. Florentine had a little boost at .8%. Which community received a full blown punch over the last 12 months? That has to be Mapleton, down a monstrous 50%! Buyer alert!!! Data is showing me that there has to be several good deals in the little enchanting community.
In accordance to data provided by RMLS in Oregon closed sales in Lane County ended up down 20.5% this September compared to September of 2009. New listings declined 13.1% and even worse, pending sales slipped 31.7%. At the rate of September’s sales rate Lane County could have 10.4 months of inventory. That might seem like dismal news, until you look at the 14.1 months of supply we had on the market in January 2010. While sales are down, pendings are down, and yes new listings are down too there is certainly parallels. The average days on market for real estate listed (The list date until the date the home went pending) continued to be the same; at 119 days on market. The days of the 3 month listings are now gone. All of those home sellers out there please take note… The Average house available on the market in Lane County will need 4 months to acquire an offer! That is average. The more expensive priced home when compared with your competitors the less “average” you will be.
To learn more about investment opportunities in the Florence Oregon Real Estate Market visit: www.RanstadGroup.com
Eugene Oregon Real Estate
Posted in Market Statistics | Tagged Florence Oregon real estate, Lane County, Mapleton Oregon, Oregon MLS, oregon real estate stats | Leave a Comment »