Like many areas of the county, state, and nation, the available residential inventory in
Eugene's North Gilham RMLS Market Area
is currently several times that experienced in the boom of 2003-2005.
North Gilham carries an inventory level that is higher than average
for the Eugene - Springfield metropolitan area.
(Here monthly available inventory is computed by dividing the number of listings active at the end-of-month by the number of sales closed during the month.)
North Gilham did not experience as hot a boom market in 2004-2006 as other expanding neighborhoods of northern Eugene.
North Gilham did see 20 months (shown in green above) in which the inventory of homes for sale was less than 2.5 months.
That compares to 26 months "in the green" for Bethel-Danebo and 34 months below the 2.5-month mark for Santa Clara. Even the somewhat older Ferry Street Bridge area located just south of North Gilham had 28 months with inventory under that level.
But North Gilham managed just 4 months below the much hotter inventory level of 1.5 months of remaining inventory (shown in dark green above).
That compares favorably to just 2 months below that standard experienced in Ferry Street Bridge.
But Santa Clara had 15 months below the 1.5 month of inventory level
and Bethel-Danebo had 14 similar months.
Since the housing downturn (shown in blue above) North Gilham has had much higher inventory of available homes for sale then the two western growth areas.
North Gilham even spiked to a shocking 45.5 months of remaining inventory in January , 2009 -- more than double the inventory spike experienced in Danebo and Santa Clara.
The North Gilham neighborhood has a preponderance of more expensive homes in newer subdivisions.
That price range has taken the worst urban beating during this housing slowdown -- due to higher interest rates and lack of abundant loans at the jumbo level.
Still, North Gilham will rebound. It is centrally located and has great access to the freeway system.
***********************
Jim Hale
Principal Broker / Owner
Graduate, REALTOR Institute e-PRO
2012 Member, Million Dollar Club of Lane County
2012 Member, Real Estate Brokers Million Dollar Club
actionagents.net
1715 Linnea Avenue
Eugene, OR 97401-1962
Office: 541-484-0219
Direct: 541-543-9991
Fax: 541-485-8068
Eugene Oregon Homes / Real Estate jim@actionagents.net
All statistical market data is based on information from the RMLS of Oregon for the dates indicated.
© 2012 All Rights Reserved / Licensed in the State of OREGON
