This month, Tumalo continued to make strides toward a more balanced market, with decreases across the board. Once again, the number of Active Residential with Acreage listings shrank (from 85 to 76). Similarly, the supply again decreased, from a 25-month supply in October to a 21-month supply in November.
Meanwhile, the median price for Active RW listings in Tumalo also decreased (from $719,000 in September to $695,000 in November), as did the number of Active million-dollar listings (down from 28 to 24).
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. 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.
Here are a few November highlights of the Tumalo market:
LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo: 76
Contingent Residential With Acreage Sales in Tumalo: 3
Pending Residential With Acreage Sales in Tumalo: 3
Residential With Acreage Closed Sales in Tumalo: 5
Average Days on Market: 274 days for Active RW listings
275 days for RW listings sold in November
Median Sales Price: $695,000 for Active RW listings
$655,500 for RW listings sold in November
INVENTORY:
Residential with Acreage: 21-month supply (44 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $89,900
Most-Expensive Residential with Acreage Active Listing: $2,495,000
Price Point with the Most Active Listings: $1,500,000-$1,749,999 (8 listings)
Listings at $1,000,000 or more: 28
If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the Novemer 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.
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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