Which homes are selling best in Eugene, Oregon's
SANTA CLARA RMLS Market Area?
The table below compares actual closed sales of single family, detached homes
in the month of June, 2009
to the inventory available in the Danebo area as of today,
July 10, 2009.
| Square-Footage Range |
Closed Sales June, 2009 |
Active Listings July 10, 2009 |
Available Inventory (in months) |
| All |
28 |
109 | 3.9 |
| 3000 plus |
2 |
6 |
3.0 |
| 2500-2999 |
4 |
9 |
2.3 |
| 2000-2499 |
3 |
23 |
7.7 |
| 1800-1999 |
3 |
15 |
5.0 |
| 1600-1799 |
3 |
14 |
4.7 |
| 1500-1599 |
2 |
12 |
6.0 |
| 1400-1499 |
2 |
10 |
5.0 |
| 1300-1399 |
3 |
6 |
2.0 |
| 1200-1299 |
4 |
∞ | |
| 1100-1199 |
1 |
3 |
3.0 |
| 1000-1099 |
3 |
2 |
.7 |
| 900-999 | 1 |
2 |
2.0 |
| Below 900 |
1 |
3 |
3.0 |
Starter homes
(near the median size)
(1100 - 1399 square feet and usually having 3 bedrooms, 2 baths, a family room and a 2-car garage)
are selling well, with a combined available inventory of
3.3 months
(just below the Santa Clara market area average).
1100-1399 |
3 |
10 |
3.3 |
Indeed, every size range below 1400 square feet
now has an inventory below the Santa Clara market area average.
Surprisingly, as shown below, the supply of very large homes
(over 2500 square feet)
is also below the Santa Clara market area average.
2500 plus |
6 |
15 |
2.5 |
The lowest inventory among Santa Clara homes is in the 1000 -1099 square foot range.
1000-1099 |
3 |
2 |
.7 |
Data compiled from RMLS data by Jim Hale, Principal Broker, ACTIONAGENTS.NET.
Copyright, 2009
Which homes are selling best in Eugene, Oregon's
DANEBO RMLS Market Area?
The table below compares actual closed sales of single family, detached homes
in the month of June, 2009
to the inventory available in the Danebo area as of today,
July 10, 2009.
| Square-Footage Range | Closed Sales June, 2009 |
Active Listings July 10,2009 |
Available Inventory (in months) |
| All |
22 |
124 |
5.6 |
| 3000 plus |
1 |
∞ | |
| 2500-2999 |
10 |
∞ | |
| 2000-2499 |
1 |
16 |
16.0 |
| 1800-1999 |
1 |
11 |
11.0 |
| 1600-1799 |
2 |
15 |
7.5 |
| 1500-1599 |
4 |
8 |
2.0 |
| 1400-1499 |
3 |
11 |
3.7 |
| 1300-1399 |
1 |
6 |
6.0 |
| 1200-1299 |
3 |
6 |
2.0 |
| 1100-1199 |
3 |
8 |
2.6 |
| 1000-1099 |
2 |
17 |
8.5 |
| 900-999 | 2 |
6 |
3.0 |
| Below 900 |
9 |
∞ |
Starter homes
(near the median size)
(1100 - 1599 square feet and usually having 3 bedrooms, 2 baths, a family room and a 2-car garage)
are selling well, with a combined available inventory of
2.8 months.
1100-1599 |
14 |
39 |
2.8 |
As shown below, there exists an over-supply (27 months of available inventory) of the largest homes
(those with over 2000 square feet).
2000 plus |
1 |
27 |
27.0 |
There is also an above-average supply of smaller homes, probably because the bulk of buyers using the
$8000 refundable federal tax credit
are buying at a higher level.
900 minus |
2 |
15 |
7.5 |
Data compiled from RMLS data by Jim Hale, Principal Broker, ACTIONAGENTS.NET.
Copyright, 2009
Data-wise, what could be better than knowing the median home selling price for SANTA CLARA or any other Eugene, OR neighborhood (RMLS data area)?
The median home sales price (see my last blog entry) is a great measure of central tendency -- a way to know what a whole class of data is doing.
But there is just no substitute for knowing what size of home is really selling better than others.
Accordingly, below is a compilation of homes closed in May, 2009 in SANTA CLARA (North of Belt Line Road), grouped according to the range of the square footage of the home.
You can see how many homes sold in each size range during the month...and how many homes within that size range were for sale (i.e. active listings) on June 16.
(This data excludes homes that were reported as manufactured or tandem (one-half of a duplex).
That is, only single family residences are show on the chart below.)
So: in SANTA CLARA: WHAT''s HOT? And WHAT's NOT?
What's hot: Homes between 1200 and 1399 square feet.
Most of these have three bedrooms, two baths and a family room -- the basic American standard.
These are the favorite choice of buyers using the $8000 refundable federal tax credit.
For these homes, the available inventory (shown in green above) is right in there -- equal to the very low "months of available inventory" experienced in the recent boom years.
What's not: Homes well above the minimum (3 & 2 home) in both square footage and price.
There remains a very high supply of homes in these ranges -- in terms of number of "months of available inventory" (shown in yellow above).
The first time home buyer credit (though available to anyone who has not owned a home in the last three years) has little impact in this range.
The difficulty of finding financing at affordable interest rates in the old "jumbo" loan category has also been a major factor.
(This chart derived from data published by Portland RMLS by Jim Hale, Principal Broker, ACTIONAGENTS.NET)
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)
In May, 2009, the inventory of homes for sale in Eugene, OR's SANTA CLARA neighborhood declined dramatically from the high recorded in May, 2008.
The number of active listings declined 34% from 2008 (and was also 23% lower than in 2007).
This is great news for SANTA CLARA sellers. A decline in inventory is a necessary first step toward stabilized prices (and, later, increased confidence and increased sales) .
However, this trend was partially mitigated by the fact that the number of closed sales in the SANTA CLARA neighborhood stayed level in May, compared to the prior year.
Of course, the inventory level (number of active listings) remains higher than during the unprecedented 2004 - 2005 boom period.
SANTA CLARA home sales in May (23) were well below the average for the 2002-2005 period (38).
However, the real new is: The inventory domino has fallen.
(This chart derived from data published by Portland RMLS by Jim Hale, Principal Broker, ACTIONAGENTS.NET)
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Principal Broker. Graduate, REALTOR Institute, e-PRO. Twelve years experience in Lane County real estate. Specializing in North Eugene (97401, 97402, 97404, 97408), West Lane and South Lane.
Besides: As a poet, Jim loves alliteration. That and being first in the alphabet.
A broker with over 12 years of real estate experience.
An agent who has personally sold scores of homes in Lane County.
A graduate of the REALTOR Institute.
A holder of the e-PRO REALTOR designation.
(The recognized credential for real estate internet marketing)
Principal Broker / Owner of actionagents.net.
A descendant of Oregon pioneers, Jim grew up on a Century farm near Noti, Oregon.
He served as an officer in the U.S. Army Signal Corps during the Vietnam War.
He has been a manager for Red Lion Hotels & Inns and Albertsons.
Jim is a past member of many local government boards and commissions, including the Eugene School District 4J Budget Committee and the Metropolitan Area Planning Advisory Committee (that wrote the Eugene - Springfield General Plan and it's associated TRANSPLAN (which provided for the Chambers Connector and the extension of Pioneer Parkway & building of the Bob Straub Parkway)).
Jim is: A former PTA President. A Fomer Lane County chair for his political party. A long-time coach and board member for American Youth Soccer Organization (AYSO). A long-time volunteer leader for the Boy Scouts of America.
Matt & Sonja Yokum (Cottage Grove)
Jim has done an amazing job for us with finding us a house and all the (many) hoops that had to be taken. Furthermore. he kept us informed about the progress, was always available when needed, always discussed our possibilities, and kept us sane when things went crazy. We are very happy with all the hard work he has done and the result: a beautiful house that we can call our home. We already recommended him to our family and friends and we are happy to do it here on this website.
We think he is the best you can get.
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