After two months of strong sales in the Sisters real estate market, the momentum slowed a bit in October, with 19 Pending and Closed sales, compared to 27 in September. On the plus side, the overall inventory continued to decrease (down from 217 in August to 180 in October).
Meanwhile, the median sales price for Active SFR listings dropped from $419,000 in September to $399,000, while the median sales price for homes on acreage decreased from $795,000 in September to $736,500.
Here are a few October highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 180 (102 Single Family Residences; 78
Residential with Acreage)
Contingent Residential Sales in Sisters: 2 (1 SFR, 1 RW)
Pending Residential Sales in Sisters: 7 (5 SFR; 2 RW)
Residential Sales in Sisters: 12 (11 SFR; 1 RW)
Average Days on Market: 218 days for Active SFR listings
250 days for Active RW listings
261 days for the SFR listings sold in October
221 days for the RW listing sold in October
Median Sales Price: $399,000 for Active SFR listings
$736,500 for Active RW listings
$445,000 for the SFR listings sold in October
$1,075,000 for the RW listing sold in October
INVENTORY
Single Family Residence: 20-month supply (62 sales in the previous 12 months)
Residential with Acreage: 37-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: $1,325,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: SFR: $300,000-$349,999, (13 listings)
RW: $450,000-$499,000, $950,000-$999,999
& $1,000,000-$1,249,999 (each w/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 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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