January 2009 Real Estate Market Snapshot for Tumalo, Oregon

Last summer, I started tracking the Sisters real estate market. This year, I'm expanding to also track the Tumalo Residential with Acreage market.

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. Nowhere else can you find quite this combination: larger parcels, often 10 acres or more (which, because of their zoning --exclusive farm use-are very difficult to subdivide, giving the area a more rural feel), impressive Cascade Mountain views (some of the best in the county), temperate climate (it's often the mildest in the region) and convenient location (close to Bend, Sisters and Redmond).

Granted, tracking Tumalo is an admittedly subjective undertaking since, at least officially, Tumalo doesn't exist (it's an unincorporated community). 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.

Below are a few January highlights of the Tumalo Residential With Acreage market.

LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo:  99
Pending Residential With Acreage Sales in Tumalo:  2
Residential With Acreage Closed Sales in Tumalo:  3
Average Days on Market:    241 days for Active RW listings; 
                                        125 days for RW listings sold in January;
                                              
Median Sales Price:     $875,000 for Active RW listings; 
                                $380,000 for RW listings sold in January;                                                                                        

INVENTORY:
Residential with Acreage: 37-month supply (32 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $234,000
Most-Expensive Residential with Acreage Active Listing: $3,950,000
Price Points with the  Most Active Listings:  $650,000-$699,999 (10 listings)
                                                              $450,000-$499,999 in RW (9 listings)

Active Listings at $1,000,000 or more: 37

If you're interested in studying the market in more depth, there are several charts below 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.

Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing
and selling rural acreage, especially horse properties. If you'd like to learn more
about Central Oregon, please visit www.CentralOregonHome4You.com.