Mid-Willamette Valley Market Updates – October, 2024
Polk and Marion Counties
New listings (300) increased 30.4% from the 230 listed in October 2023, and increased 24.5% from the 241 listed in September 2024. Pending sales (240) increased 14.3% from the 210 offers accepted in October 2023, and increased 9.1% from the 220 offers accepted in September 2024. Closed sales (189) increased 20.4% from the 157 closings in October 2023, and increased 3.3% from the 183 closings in September 2024.
Inventory decreased to 3.2 months in October. That means if no new homes were to come onto the market, that it would take 3.2 months to sell at the rate at which they are selling. Total market time increased to 64 days.
Comparing the first ten months of 2024 to the same period in 2023, new listings (2,920) increased 7.6%, pending sales (2,173) increased 3.9%, and closed sales (2,041) increased 1.3%.
Comparing 2024 to 2023 through October, the average sale price has increased 0.3% from $463,500 to $465,100.
Lane County
New listings (400) increased 7.5% from the 372 listed in October 2023, and decreased 5.7% from the 424 listed in September 2024. Pending sales (335) increased 12.0% from the 299 offers accepted in October 2023, and decreased 1.8% from the 341 offers accepted in September 2024. Closed sales (304) increased 4.5% from the 291 closings in October 2023, and increased 2.4% from the 297 closings in September 2024.
Inventory decreased to 3.0 months in October. That means if no new homes were to come onto the market, that it would take 3.0 months to sell at the rate at which they are selling. Total market time increased to 54 days.
Comparing the first eight months of 2024 to the same period in 2023, new listings (2,368) increased 9.2%, pending sales (1,742) increased 1.0%, and closed sales (1,631) decreased 0.3%.
Comparing 2024 to 2023 through August, the average sale price has increased 0.8% from $462,900 to $466,700.
If you’re considering buying or selling your home, now may be the time to start discussing a strategy. Don’t hesitate to reach out so I can schedule a time to connect and work together to help you put your best foot forward.
