March 2009 Real estate sales: Eugene, Springfield, Cottage Grove, Creswell and greater Lane County Oregon Market update.

We're still in a strong "buyers market", but home sales are up nearly 35% since February.

The current available inventory of 1,919 residential properties would last 9.7 months, down 52.9% from a record high of 20.6 months in January 2009.

Comparing March 2009 with March 2008, closed sales dropped 19.9% and pending sales fell 11.6%.

The average sale price is down by 13.2% since this time last year. The Median price fared better, down 5.9%.

Please email me and request "March Market Action" to receive the full report and accompanying charts.

What does all this mean if you need to buy or sell in our current market?

• Price continues to be the dominant factor in determining how quickly properties will sell, or if they will sell at all.
  
  

• Sellers must ensure that the condition of their property is superior, that their price is competitive, and that their Realtor is a master at marketing and negotiation if they wish to sell in a reasonable time frame.
  
  
• Buyers still have access to a vast number of housing options, and the opportunity to purchase at value prices, if they can obtain financing, and especially if they can pay cash.
  
  
• Agents must work with a high level of dedication and focus to serve the interests of their clients, and to ensure the future of their careers through the current downturn and into economic recovery. If you have questions about our market or the current data please call or email. And if you need to buy or sell in the Eugene/Springfield area and want top-notch representation, I'm here to help.

Bobby Stevens, Broker 541 225-8081
Eugene's Alternative - REALTORS®
1553 Oak Street, Eugene, OR 97401
office: 541 302-5999 | office fax: 541 349-9616