In February, the real estate sales activity slowed a bit in Sisters -- from 19 pending and closed sales in January to 10 pending and closed sales. No surprise there; there's typically a winter lull in Central Oregon. Meanwhile, the median sales price for Active Single Family Residence listings fell back into the $350,000 territory (after rising to $365,000 in January), while the median sales price for Active Residential With Acreage listings continued to decrease (from $711,500 in January to $699,000 in February).
The high inventory in both Single Family Residences and Residential with Acreage listings continues to be a concern for sellers (both categories experienced a one-month supply increase in February). The good news for buyers: There's still plenty to choose from in most price points.
Here are a few February highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 157 (87 Single Family Residences; 70
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 3 (2 SFR; 1 RW)
Residential Sales in Sisters: 7 (4 SFR; 3 RW)
Average Days on Market: 220 days for Active SFR listings
294 days for Active RW listings
442 days for the SFR listings sold in February
166 days for the RW listings sold in February
Median Sales Price: $350,000 for Active SFR listings
$699,000 for Active RW listings
$358,250 for the SFR listings sold in February
$270,000 for the RW listings sold in February
INVENTORY
Single Family Residence: 15-month supply (69 sales in the previous 12 months)
Residential with Acreage: 28-month supply (30 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $114,900
Least-Expensive Residential with Acreage Active Listing: $159,900
Most-Expensive Single Family Residence Active Listing: $1,495,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: SFR: $200,000-$249,999, (14 listings)
RW: $850,000-$899,999 (7 listings)
If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the Sisters real estate market in detail.
If you'd like to learn more about the Sisters 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, GRI, CDPE 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.
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