Lane County Housing Market May 2016
Lane County saw increased numbers again last month. The 441 closed sales were up 7.3% over May 2015 and 10% higher than the 401 closings just last month, making it the strongest month of May for closings since 2005.
Pending sales (567) increased 2.7% compared to May 2015 and 2.5% up from April 2016. There has not been such an increase for May since 2001.
New listings (657) fared the best for May, shooting up 12.1% from April. However, the numbers cooled slightly (2.2%) when comparing the same month in 2015, when there were 672 new listings.
Total market time decreased to 56 days in May & inventory decreased slightly to 2.0 months. Lane County currently has 882 active residential listings in circulation.
Average & Median Sale Prices continue to rise. When comparing with 12 months past, average prices have increased 4.8% and median prices increased 5.1%.
It is a strong sellers market right now. If you are thinking of selling your home, or have questions about buying, please don't hesitate to give me a call. We can discuss your options and what might be your best course of action.
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