In February, it appeared that Sisters sellers were already anticipating the spring market surge; there was an increase in inventory in both Single Family Residences and Homes with Acreage (homes on one acre or more).
Unfortunately, there wasn't a comparable increase in sales -- in fact, there was a slight decrease in sales, from a total of four pending sales and seven completed sales in January to one contingent sale, two pending sales and three completed sales in February.
On the plus side: Average Days on Market for both categories of Active Listings were slightly down from January's numbers.
Below are a few February highlights of the Sisters market.
LISTING ACTIVITY
Active Residential Listings in Sisters: 150 (78 Single Family Residences; 72 Residential with Acreage)
Contingent Residential Sales in Sisters: 1 SFR
Pending Residential Sales in Sisters: 1 SFR
Residential Sales in Sisters: 4 (3 SFR; 1 RW)
Average Days on Market: 218 days for Active SFR listings;
225 days for Active RW listings;
339 days for SFR listings sold in February;
27 days for the RW listing sold in February;
Median Sales Price: $411,000 for Active SFR listings;
$250,000 for SFR listings sold in February;
$674,500 for Active RW listings;
$1,375,000 for the RW listing sold in February
INVENTORY:
Single Family Residence: 12-month supply (76 sales in the previous 12 months)
Residential with Acreage: 36-month supply (24 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $169,990
Least-Expensive Residential with Acreage Active Listing: $207,000
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $5,250,000
Price Point with the Most Active Listings: $300,000-$349,999 in SFR (11 listings)
$1,000,000-$1,249,999 in RW (9 listings)
If you're interested in studying the market in more depth, there are a number of charts below 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 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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