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Closed sales in June hit a four-year high for the month, after May’s totals came in at a four-year low. But cumulative sales through the first half of the year were still lower than 2025, as buyers navigated high interest rates and low supply.
Call it a bounce-back month for Lane County’s real estate market.
The 386 home sales that closed countywide last month marked the highest June total in at least four years, according to data from the Regional Multiple Listing Service released Wednesday, July 8.
The improved pace followed a sluggish May, which had the lowest sales total for that month in four years.
Home sales tend to fluctuate month to month. Houses that sold in June were on the market for 51 days on average, meaning many sales last month were for houses listed in April or May.
But buyers in June were clear-eyed about the low housing inventory and 6.5% mortgage interest rates, said Jodie Smith, broker and president of Jodie Smith Real Estate Co.
“Buyers had adjusted to the market interest rates and saw the value in taking action quickly, even in competition,” Smith said.
June’s home sales figure was up 13% from a year ago, and up 32% from May’s total. The median sale price was $446,300 in June, up from $444,000 a year ago. Last month’s median sale price was down, however, from June 2024’s median of $450,000.
And despite the strong recovery from May, the total number of Lane County home sales through the first half of this year was still 1% lower than last year.
High interest rates coupled with the start of the Iran war in late February and the subsequent surge of gas prices may have dented demand for price-sensitive homebuyers in the spring. But the end of the school year tends to push buyers to close deals, Smith said.
“Over the last 60 days we’ve found that both buyers and sellers enjoyed a win-win,” she said. “Sellers put their properties on the market in good condition and at exceptionally reasonable pricing. And appraisers agreed with the value when some of the sales went tens of thousands of dollars over the asking price.”
Smith said a house one of her clients was interested in last month received 13 offers.
The 508 new listings in June was the highest for the month since 2023. But cumulative new listings covering the first half of the year were 5.5% lower than last year.
Housing inventory — the amount of time it would take to sell all the listed houses based on the current sales pace — fell to 2.4 months in June from 3.1 months in May, returning Lane County’s available housing supply to near the two-year low of 2.3 months recorded in April.
Six months of inventory is the typical marker for a “balanced” market where buyers and sellers are on even footing. Lower inventory typically favors sellers because there are fewer options for buyers.
