Eugene, Oregon's Ferry Street Bridge RMLS market area showed 9.1 months of available residential inventory at the end of April, 2009.
That April inventory level of homes for sale was average for the Eugene - Springfield metro area.
Ferry Street Bridge's available inventory by month over the period 2002 -2009 is shown below. The neighborhood was in a sellers' market in 2003 to 2005 (shown in green below) but that boom was not as hot as the Bethel-Danebo and Santa Clara neighborhoods shown in my prior blog postings. The available inventory ratio (active listings divided by closed sales during the month) only dropped below 1.5 for two months in Ferry Street Bridge during that boom period. By contrast, the inventory ratio was below that level for 14 months in 2004 & 2005 in both Danebo and Santa Clara.
Similarly, the seller's market of 2007 -2009 has seen much higher remaining inventory levels in Ferry Street Bridge than in the neighborhoods to the west. That is surprising given Ferry Street Bridge's central location in the metro area and the influx of staff moving to the area to be near the new Sacred Heart Medical Center at Riverbend.
Perhaps that difference can be attributed to the availability of more new home subdivisions in Danebo and Santa Clara in recent years. Much of the housing growth in the last few years in Ferry Street Bridge has been in multi-family developments.
Amazingly, though Ferry Street Bridge experienced realtively high inventory ratios during 2008 and early in 2009, the area did not see the fierce spike in inventory ratio that hit other MLS areas this January. While the ratio hit 17.3 months in Danebo and 20.4 months in Santa Clara in January, it reached only 14.0 months in Ferry Street Bridge. Ferry Street Bridge did hit its own high ratio of 15.8 months of remaining inventory in November, 2008.
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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.
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