Like last month, Tumalo's real estate market for August was most notable for its decreases. Once again, the number of Active Residential with Acreage listings shrank (from 97 to 93). And, unlike Sisters -- which has almost doubled its inventory so far this year, from 136 Residential listings in January to 217 in August -- Tumalo has seen an overall decrease throughout the year (from 99 Active Residential with Acreage listings in January to 93 in August).

The median price for Active RW listings in Tumalo also continued to decrease (down from $875,000 in January to $689,000 in August), as did the number of Active million-dollar listings, which fell below 30 for the first time this year. That's good news for buyers, many of whom have been priced out of the Tumalo market for some time.

There was one notable increase this month -- in sales, which rose from eight pending and closed sales in July to 14 in August. More good news for sellers: Once again, there were several sales above $500,000, including two sales above $1 million.

As a horse-property specialist, Tumalo has always been of particular interest to me because that's where you'll find many of the most desirable horse properties in Central Oregon. Because its boundaries are up to interpretation, please consider the following statistics a general barometer of the area's real estate activity that includes most, but not necessarily all, of the listings in Tumalo.

Here are a few August highlights of the Tumalo market:

LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo:  93
Contingent Residential With Acreage Sales in Tumalo:  1
Pending Residential With Acreage Sales in Tumalo:  8
Residential With Acreage Closed Sales in Tumalo:  6
Average Days on Market:      215 days for Active RW listings 
                                          258 days for RW listings sold in August
                                              
Median Sales Price:               $689,000 for Active RW listings 
                                          $575,000 for RW listings sold in August                                                                                        

INVENTORY:
Residential with Acreage: 32-month supply (35 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $123,500
Most-Expensive Residential with Acreage Active Listing: $3,750,000
Price Point with the Most Active Listings:   $550,000-$599,999 (11 listings)
Listings at $1,000,000 or more: 28

If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the Tumalo real estate market in detail.

If you'd like to learn more about the Tumalo real estate market, don't hesitate to email me at lisabroadwater@remax.net or call me toll-free at 866-963-2760.

About the Author:
Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend. If you'd like to learn more about Central Oregon, please visit www.CentralOregonHome4You.com.