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December 2009 Real Estate Market Snapshot for Tumalo, Oregon

By
Real Estate Agent with Cascade Sotheby's International Realty

December 2009 Real Estate Market Snapshot for Tumalo, OregonTumalo ended the year on a positive note: by once again making headway toward a more balanced market, with decreases across the board. Once again, the number of Active Residential with Acreage listings shrank (from 76 in November to 61 in December). Similarly, the supply decreased, from a 21-month supply in November to a 16-month supply in December.

Meanwhile, the median price for Active RW listings in Tumalo decreased notably (from $695,000 in November to $649,000 in December), and the number of Active million-dollar listings fell below 20 for the first time this year (from 24 to 19).

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 December highlights of the Tumalo market:

LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo:
  61
Contingent Residential With Acreage Sales in Tumalo: 2
Pending Residential With Acreage Sales in Tumalo:  5
Residential With Acreage Closed Sales in Tumalo:  2
Average Days on Market:      248 days for Active RW listings 
                                          64 days for RW listings sold in December
                                              
Median Sales Price:               $649,000 for Active RW listings 
                                          $297,050 for RW listings sold in December                                                                                        

INVENTORY:
Residential with Acreage: 16-month supply (45 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $89,900
Most-Expensive Residential with Acreage Active Listing: $2,099,900
Price Point with the Most Active Listings:  
                                                     $450,000-$499,000 & $1,500,000-$1,749,999 (each w/7 listings)
Listings at $1,000,000 or more: 19

If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the Tumalo real estate market in detail.

December 2009 Real Estate Market Snapshot for Tumalo, Oregon

December 2009 Real Estate Market Snapshot for Tumalo, Oregon

December 2009 Real Estate Market Snapshot for Tumalo, Oregon

December 2009 Real Estate Market Snapshot for Tumalo, Oregon

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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