July 2009 was a month of increases for the Sisters real estate market. Inventory continued to increase (from 212 to 219, with seven new Single Family Residence listings and no new Homes on Acreage). That high volume of inventory continues to be a long-term concern for sellers and helps explain this month's increase in days on market for both active Single Family Residences and Homes on Acreage.
On the plus side, sales increased again this month, if only slightly (15 pending and closed sales), including the first million-dollar transaction since February.
Here are a few July highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 219 (129 Single Family Residences; 90 Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (1 SFR, 0 RW)
Pending Residential Sales in Sisters: 11 (7 SFR; 4 RW)
Residential Sales in Sisters: 4 (2 SFR; 2 RW)
Average Days on Market: 206 days for Active SFR listings
250 days for Active RW listings
412 days for the SFR listings sold in July
69 days for the RW listings sold in July
Median Sales Price: $450,000 for Active SFR listings
$785,000 for Active RW listings
$273,885 for the SFR listings sold in July
$404,500 for the RW listings sold in July
INVENTORY
Single Family Residence: 31-month supply (50 sales in the previous 12 months)
Residential with Acreage: 47-month supply (25 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $149,990
Least-Expensive Residential with Acreage Active Listing: $199,900
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $250,000-$299,999, in SFR (15 listings)
$950,000-$999,999 & $1,000,000-$1,249,999 in RW (each with eight listings)
If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the July 2009 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 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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