In May, 2009, the median sales price for homes in Eugene, OR's SANTA CLARA neighborhood (RMLS area) was up from this April but down from May, 2008.
SANTA CLARA's median residential price for May was $226,700. That is lower than the median for May in any the past four years -- putting this measure of central tendency back to approximately where it was at the beginning of the housing boom.
One half of all homes sold for more than the median, one half sold for less.
The median is perhaps the more accurate measure of what is happening in the market place. The mean price (arithmetic average) is easily distorted by a few high or low values.
This trend echoes data in an earlier post on this blog which reported that the Case-Shiller index for the Portland Metro Area showed home prices there declined by 15.3% for the year ending in April, 2009.
Year-on-year, prices in SANTA CLARA are still in decline. However, the trend for the early months of 2009 has been more up than down.
(This chart derived from data published by Portland RMLS by Jim Hale, Principal Broker, ACTIONAGENTS.NET)
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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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