October 2017 Lane County real estate. How high will it go?
Updated: Nov 23, 2017
Lane County real estate market continues to climb.
October 2017 update.
October Residential Highlights
Lane County saw some mixed activity in October, but numbers are up across the board compared to October 2016. Pending sales (477) showed a 14.4% increase over October 2016 (417) and a 3.7% increase compared to last month in September 2017 (460). It was the strongest October for pending sales in Lane County since at least 2001! New listings, at 446, increased 23.5% compared to October 2016 (361) but fell 14.9% short of the 524 new listings offered just last month in September 2017. Closed sales fared similarly—at 428 in October, closings increased 6.5% from October 2016 but decreased 7.6% from last month in September 2017
Year to Date Summary
Comparing the first ten months in 2017 to the same period in 2016, new listings (5,782) have increased 2.3%, closed sales (4,368) have remained steady, and pending sales (4,629) have decreased 1.9%.
Average and Median Sale Prices
Comparing 2017 to 2016 through October of each year, the average sale price rose 9.5% from $263,200 to $288,200. In the same comparison, the median sale price rose 10.6% from $235,000 to $260,000.
What does it all mean?
Given the high demand for homes and the low inventory we remain in a sellers market. The data in the post compiled by the Regional Multiple Listing Service and is based on an average for home sales in Lane County excluding Florence. For specific information regarding the potential value of your home, please call or email.