In constrast to the weak housing boom of the North Gilham neighborhood (RMLS market area), Eugene's
River Road (RMLS market area)
looked a lot like Santa Clara, its neighbor to north and Bethel-Danebo, its neighbor to the west.
(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.)
River Road experienced 33 months with an inventory level below 2.5 months of remaining homes for sale
(as shown in green above).
By comparison Santa Clara saw 34 months such months; Bethel-Danebo had 26.
Of those 33 months, River Road had 18 months below the even hotter 1.5-month level of available inventory.
Santa Clara had 14 such months; Bethel-Danebo saw 15.
Arguably, during the boom, River Road was the hottest market in northern Eugene.
BUT, during the recent downturn, River Road has lost its spark, experiencing higher inventory ratios than its two closest neighbors.
River Road's worst month (January, 2009) saw 23 months of available inventory.
Still, the $8000 refundable tax credit (for buyers that have not owned a personal residence in the last three years) is working its magic is centrally located River Road.
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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
