Like many areas of the county, state, and nation, the available residential inventory in
Eugene's Santa Clara RMLS Market Area
is currently several times that experienced in the boom of 2003-2005.
Sanata Clara carries an inventory levels that is about 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.)
The Santa Clara neighborhood, with a great mix of older and newer homes, started it's housing boom period (shown in green above) nine months before the boom began in the nearby Bethel - Danebo neighborhood (See My Post of May 24). The boom began in March, 2003, reflecting the earlier availability of larger homes in new subdivisions.
The Santa Clara RMLS market area was hot throughout 2004 and 2005, but began cooling off several months before Bethel - Danebo. Danebo may have had more new subdivisions coming on-line in early 2006.
Like Bethel- Danebo, Santa Clara's transition/balanced market period (shown in white above) was about a year long. But beginning in June of 2007, Santa Clara's available inventory of homes began to be substantially higher the neighbors to the west.
The current buyer's market (shown in bllue and grey) began in earnest in June, 2007.
Hopefully, the inventory reached
its worst ratio in January of 2009 -- a truly historic level of 20.4 months of available homes.
As you will see from future posts, this basic pattern can be found in data from
other Lane County market areas.
Santa Clara remains one of the county's better places to be selling a home in 2009.
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