It’s a tough market, and as one seller who shared his home-selling story explains, it can be a long and daunting process to sell your home in this market.
“This summer before we even aggressively marketed it, it got sold,” said Joe Berney.
Berney is relieved to have finally sold his home, but this isn’t his first try.
“I think it’s just a different market. We tried to sell it last summer. We had a couple of contingency offers, but the potential buyers couldn’t sell their homes,” Berney said.
He’s far from the one who’s experienced housing market woes.
“The buyers are also slowed down a little bit from last year by about 7 percent. So the demand is still up, elevated, and the supply is still tight, so it’s kind of a tight market,” said Prudential broker Marcia Edwards.
Price-wise we’re looking at a more competitive market. Most people in Eugene are looking at buying a home for less than $200,000. But the average price of a home within that bracket went up.
“We saw the median sales price go from first quarter last year at $160,000 to first quarter this year $180,000. So that’s a 12-percent increase appreciation in median sales price,” Edwards said.
With prices going up, some are looking to downsize. Berney says he and his wife are recent empty-nesters and that after selling their home, they’re moving into a smaller apartment. Realtors say there are a lot of apartment complexes under renovation for that influx of people.
Realtors also mentioned that these numbers are general and that it all depends on what part of town you’re looking to buy or sell.