The local real estate market is undeniably a “Buyers Market” but what does that really mean. Well unlike California, Arizona and Nevada The Eugene/Springfield market is not in decline, but it is slow. The average marketing time is 89 days on market, that means that if you want to sell your home you should be prepared for a longer marketing time.

Combined with low interest rates this is a great time to buy real estate. Investors are starting to take advantage of the competition between sellers and have been successful in negotiating purchases with sellers that have adjusted to the new market.

If you are wanting to sell your current home and buy up or down the market offers you a wider selection of homes than we have seen in the last several years and yet you don’t have to slash the price on your home in order to get a buyer.

The local market has appreciated between 3.7% and 4% in the last 12 months depending on how you crunch the numbers.

Visit my web site by clicking on the link rickrealestate.com. There you will be able to search the MLS system anytime at your leisure. Add the web site to your favorites and use it for many other features. If you want to know what your house is worth on today’s market call me for a free market analysis, office phone 684-0234.

Lane County

Real Estate Statistics

Lane County’s average home sale price in February 08 was $237,900 down from $253,800 in February of 07. But still marking a 4% increase in value over the last 12 months. Average days on market 89. Source: RMLS of Oregon