Eugene, Coastal,& Southern Oregon

(Lane, Tillamook, and Douglas)

While most markets followed nationwide residential real estate trends – decline in sales, longer average days on market, tight inventory – Eugene, the Coast, and Southern Oregon went slightly against the grain. In some cities, prices increased from year-ago figures and market activity hastened, with more closed units this quarter than at the same time the prior year.

Days On Market

In Eugene, the Coast, and Southern Oregon, average days on market increased 100% year-over-year to 42 days this quarter. In Netarts/Oceanside, days on market jumped 663% year-over-year to 61 days. At 29 days –a 93% increase from year-ago figures – Eugene posted the fastest average in the region.

Closed Units

Closed transactions missed the mark by 27%, ending the quarter at 1,441. With a 1% year-over-year rise to 80 closed units this quarter, Sweet Home was the only city in the region that recorded an increase in closed units from this time last year.

NEW LISTINGS, ACTIVE LISTINGS, AND PENDING SALES

New listings in Lane and Douglas Counties (2,048) were down 22% from year-ago figures; active listings dropped 8% to end Q2 2023 at 2,936; and pending sales (1,550) fell 19% compared with this time last year.

Average Sales Price

Average sales price in Eugene, the Coast, and Southern Oregon ($448,008) declined 2% overall compared with Q2 2022. In a city-by-city analysis, results varied. Notably outside the trend, average sales price in Garibaldi increased 105% from year-ago figures to $538,333 this quarter.