Today, the NAR released national real estate market statistics for January 2013. Nationally, there is a pretty strong seller’s market, with house supplies under 5 months. A 6 month supply is said to be balanced between buyers and sellers. Nationally, prices continue up at 12.3% greater, compared to a year ago. Distressed sales, short sales and bank-owned, make up between 1 in 4 and 1 in 5 sales.
In Lane County supply is also fairly low, weighing in at 6.8 months in January 2013, up from 5.2 months in December 2012, but down from 7.8 months a year ago, according to RMLS. January sales tend to be pretty low in Lane County. For reference, we were at over 20 months in January 2009, at the depths of the Great Recession. Prices continued up last month, with a median price of $186,300 compared to $182,000 two months ago in December 2012. January 2013 prices were 10.2% greater than those in January 2012. Lane County prices are a little above the national average. Prices are trending up and interest rates are low, now is a good time to buy or sell real estate in Lane County. Please call me if you have questions.