As summer transitions into fall, the Sisters real estate market continues to experience only minor changes. We did see another slight dip in the number of listings (down from a summer high of 243 in July to 192 in October), but there was also a slight decrease in the number of sales (from a high of 11 in June and July to eight in October). The high volume of inventory -- an 18-month supply of Single Family Residences and a 36-month supply of homes on one acre or more -- continues to be a concern for sellers here, while the many options in a broad range of price points should appeal to potential buyers.
Below are a few October highlights of the Sisters market.
LISTING ACTIVITY
Active Residential Listings in Sisters: 192 (115 Single Family Residences; 77 Residential with Acreage)
Pending Residential Sales in Sisters: 4 (3 SFR; 1 RW)
Residential Sales in Sisters: 8 (5 SFR; 3 RW)
Average Days on Market: 187 days for Active SFR listings;
221 days for Active RW listings;
102 days for SFR listings sold in October;
322 days for RW listings sold in October
Median Sales Price: $450,000 for Active SFR listings;
$479,000 for SFR listings sold in October;
$725,000 for Active RW listings;
$435,000 for RW listings sold in October
INVENTORY:
Single Family Residence: 18-month supply (76 sales in the previous 12 months)
Residential with Acreage: 36-month supply (26 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $169,990
Least-Expensive Residential with Acreage Active Listing: $259,000
Most-Expensive Single Family Residence Active Listing: $2,100,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $350,000-$399,999 in SFR (16 listings)
$1,000,000-$1,249,999 in RW (8 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 http://www.centraloregonhome4you.com/.
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