Lane County Housing Market May 2018

Closed sales had a strong month this May with 451 closings, a 1.6% increase over last year in May 2017 and a 15.1% increase over last month in April 2018. The last May when Lane County had more closings was in 2005, when 465 were recorded for the month.

Pending sales (521) fell 18.3% short of May 2017 (638) but edged 1.0% over the 516 offers accepted last month in April 2018.

New listings (680) fared similarly, showing a 9.6% decrease from May 2017 (752) but a 19.1% increase from April 2018 (571).

Inventory edged up slightly in May to 1.6 months, with total market time decreasing to 38 days. 

Comparing the first 5 months of 2018 to 2017, closed saled (1,941) have increased 10.0% and pending sales (2,262) have increased 1.9%. New listings (2,628) have decreased 0.5%.

Through May of each year, when comparing 2018 to 2017, the average sale price has increased 6.6% from $277,300 to $295,600. In the same comparison, the median sale price rose 9.2% from $250,000 to $273,000.

If you have any questions about the current market, don't hesitate to give me a call. 

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