LaneCo real estate: Good time to buy, good time to sell

LaneCo real estate: Good time to buy, good time to sell »Play Video

EUGENE, Ore. -- The number of home sales rose 14.4 percent in October over last year in Lane County, according to the Regional Multiple Listing Service.

“I think it’s a little bit of pent up demand of things that have been happening in the marketplace,” said Barnhart Real Estate agent Marie Due at an open house on Sunday.  
Due said the market is balancing out, which means the total number of homes on the market and their prices have dropped simultaneously.
 
RMLS numbers show that the median price of a home sold in Eugene in October was $165,000 - more than a 13 percent drop from last year.
 
And the report shows that the total number of newly listed houses is also decreasing, down more than 18 percent in October compared with the 2010 data.
 
“This house was priced at $529,000, and we’ve dropped it to $499,000,” said Due at a house on W. 23rd Ave., one of her listings. “That means there is more demand for properties that are out there.”
 
While the months following summer are typically the slow season for the real estate market, Due said that this year there is a unique window of opportunity for buyers and sellers.
 
She said for buyers, "We're getting into that dynamic of a really low interest rate, low prices. Go and get yourself a house!”
 
And for sellers who’ve been waiting for just the right time, she said, “With less people trying to sell their homes there is less competition.”