Sisters, Oregon Real Estate Market Report For December 2014

Sisters, Oregon Real Estate Market Report For December 2014

In December, the Sisters residential real estate market continued to see a decline in Active listings: The number of Single Family Residential (SFR) listings decreased from 79 in November to 65 in December, and the number of Active Residential with Acreage (RW) listings decreased from 76 in November to 53 in December. Despite the dwindling inventory of homes on the market, sales were strong: 17 Closed sales and 11 Pending sales. All eight of the Closed SFR sales were below $500,000, while three of the nine Closed RW sales were above $500,000. There were no Closed or Pending sales above $700,000. For sellers, there was one common denominator in December, among both SFR and RW listings: few available options for buyers with smaller budgets: In fact, there were just four Active RW listings below $350,000 and five Active SFR listings below $250,000. The most popular price point among Active SFR listings was not too removed from that: the $350,000-$399,999 bracket (16 of the 65 listings), with the $250,000-$299,999 bracket taking second place (eight listings). Meanwhile, at first glance, it might appear that the Active RW listings were fairly evenly distributed among all price points. However, if you look at the overall RW picture, one price point stands out: the million-dollar listing. In December, 17 of the 53 Active RW listings — 32 percent — were priced at $1 million or above. Considering that Sisters had just five million-dollar sales total (both SFR and RW properties) in all of 2014, that could mean a quiet winter for many Sisters sellers. Here are some highlights of the Sisters real estate market in...
Sisters, OR Real Estate Market Report For November 2014

Sisters, OR Real Estate Market Report For November 2014

In November, the Sisters residential real estate market continued its seasonal slowdown — at least in terms of Active listings. The number of Active Single Family Residential (SFR) listings was down from 85 in October to 79 in November, while the number of Active Residential with Acreage (RW) listings was down from 86 in October to 76 in November. Sales, on the other hand, were a different story — they actually increased in November (up from 17 Closed sales in October to 21 Closed sales in November). And they were up significantly compared to this time last year, when there were 13 Closed sales. Pending sales were up, too, with 14 Pending sales in November compared to 11 in October. All but two of the Closed sales were below $500,000 — with the bulk of the sales falling between $200,000 and $350,000 (14 of the 21 sales). Pending sales were also focused primarily on the lower price points — just two of the 14 Pending sales were for properties listed above $500,000 and eight of the 14 Pending sales were for properties listed between $200,000 and $350,000. With sales on the upswing and Active listings taking a downturn, the overall supply of homes for sale in Sisters decreased noticeably in November: There was a 7.3-month supply of SFR listings in November, compared to a 9.3-month supply in October, and a 10.5-month supply of RW listings in November, compared to a 11.7-month supply in October. Here are some highlights of the Sisters real estate market in November, based on data provided by MLSCO on Dec. 10, 2014: LISTING ACTIVITY Active...
Sisters, Oregon Real Estate Market Report For October 2014

Sisters, Oregon Real Estate Market Report For October 2014

In October, the Sisters residential real estate market began its seasonal slowdown. Sales decreased notably (down from 26 Closed sales in September to 17 Closed sales on October), as did the number of Active listings (down from 193 in September to 171 in October). Meanwhile, the days on market (DOM) for Active listings increased a bit: Among Single Single Family Residential (SFR) listings, it rose from 163 in September to 189 in October, and among Active Residential With Acreage (RW) listing, it increased from 191 in September to 207 in October. The Closed sales were divided fairly evenly among the two categories: 10 SFR sales and seven RW sales. When it came to price, however, the two segments differed quite a bit. All 10 Closed SFR sales were below $500,000, while almost half of the Closed RW sales (four of the seven) were above $500,000 — although not by a lot; the highest priced sale in October was for $672,000. Another difference between October’s SFR and RW properties involved the sales price for Active listings. Although the median price for Active SFR listings decreased quite a bit (down from $424,000 in September to $399,950 in October), the median price for Active RW listings increased significantly (up from $705,000 in September to $744,450 in October). Once again, the overwhelmingly favorite price point for Active SFR listings was the $350,000-$399,999 bracket (16 listings), with a second-place tie going to the three brackets between $200,000 and $350,000, each of which had eight Active listings. Million-dollar listings were once again the the most popular price point for Active RW listings, with 26 of...
Sisters, Oregon Real Estate Market Report For September 2014

Sisters, Oregon Real Estate Market Report For September 2014

The Sisters residential real estate market’s fall selling season started off strong, with a total of 26 Closed sales in September (compared to 13 Closed sales in August). Of those 26 Closed sales, 16 were Single Family Residential (SFR) properties, while 10 were Residential with Acreage (RW) properties. Most of the Closed SFR sales were below $500,000 (14 of the 16 sales), while three of the 10 Closed RW sales were above $500,000. That included the sale of a 560-acre rural property with Whychus Creek frontage, which sold for the distinctive amount of $3,335,444. Pending sales were also strong in September, with a total of 18 listings under contract by the end of the month. Of those, all six Pending SFR sales were for properties listed below $500,000. The Pending RW sales, however, focused almost exclusively on higher-end properties, with five of the six Pending sales for properties listed above $450,000. There was little change in the amount of inventory this month — just a slight decrease (down from 200 Active listings in August to 193 in September). There were, however, significantly more options for buyers in September than there were this time last year, when there were 155 Active listings. The most popular price point for Active SFR listings is still the $350,000-$399,999 bracket, with 18 listings. The $450,000-$499,999 was a not-so-close second, with 10 listings. Alas, the most popular price point among Active RW listings in September was the $1,000,000-$1,249,999 range. Interestingly, that was also the case in September 2013, with one key difference: The median price for Active RW listings has decreased significantly since then. In...
Alpenhimmel: A Crafter’s Heaven Opens in Sisters

Alpenhimmel: A Crafter’s Heaven Opens in Sisters

I’d like to take just a minute to brag on one of my clients. Charity Alva moved to Sisters a couple of years ago after living in Germany for over 20 years (her husband, John, was stationed there with the Department of Defense). Their goal was to find the ideal locale to retire. That was the plan, anyway… Now, Charity is perhaps the most creative person I know. Her European-influenced home is filled with paintings and mixed-media creations (homemade books and journals, wall hangings) of her design. And although she loves all that Sisters has to offer its artists (that’s one reason they moved there), she noticed there wasn’t any real support geared toward the crafting community. Enter Alpenhimmel Creative Arts Emporium, Charity’s new business venture, which combines a crafts-supply store with a fully outfitted crafts classroom that folks can also rent as studio space. Charity’s goal is to create a gathering place (“Alpenhimmel” is German for “Alpine heaven”) where folks who enjoy crafting can share ideas, learn/fine-tune a variety of different crafts and find everything they need to complete whatever project they’re working on. In other words, it seems perfectly suited to a creative town like Sisters. Although Alpenhimmel has only been open a few weeks, Charity has a number of classes already on the fall schedule (in time, she says she’d like to have a number of different instructors leading four to five classes per week). In October, the offerings range from “Creating a Souvenir Photo Accordion” to “Beginning Pine Needle Basketry,” “Designing and Carving Your Own Rubber Stamps” and “Exploring Cyanotype Printing.” In other words, not...
Sisters, Oregon Real Estate Market Report For August 2014

Sisters, Oregon Real Estate Market Report For August 2014

After the unprecedented sales activity in July (the highest number of sales in a single month in at least five years), the Sisters residential real estate market quieted down a bit, but to a still-respectable number in August — down from 31 to 13 sales. All 13 Closed sales were below $600,000, however, and almost all of those sales were for Single Family Residential (SFR) properties: 10 SFR sales compared to three Residential with Acreage (RW) sales. Sales in August 2013 were much stronger (24 Closed sales); however, in both August 2012 and August 2011, there were 14 sales. And it appears as if more buyers were circling Sisters toward the end of the month: There were 21 Pending sales by Aug. 30, with sales activity fairly evenly distributed between SFR and RW listings (10 and 11, respectively). The Pending SFR sales were all below $450,000, while almost half of the Pending RW sales were for properties listed above $500,000. As for inventory, the number of Active listings is again on the rise in Sisters — up from 189 in July to 200 in August. That’s quite an improvement over last year at this time, when there were just 153 Active listings. One thing that is still in scarce supply: Properties below $200,000 (there were only two Active listings in that price range at the end of August). The most popular price point for Active SFR listings was once again the $350,000-$399,999 bracket. For RW listings, on the other hand, the $650,000-$699,999 bracket just edged out the $1,000,000-$1,249,999 range (11 listings compared to 10). That might help explain why...
Fir Street Park Opens in Sisters, Oregon

Fir Street Park Opens in Sisters, Oregon

As the Highway 20 rebuild project nears completion, another long-in-the-works public project was unveiled: the Fir Street Park. Back in 2011, the Sisters Parks Master Plan identified the development of this public gathering spot (located at the corner of Fir and Main streets) as a top priority for the Sisters park system. It wasn’t until July 2013, however, that any real plan was put into place. That’s when the city received a big boost: It was awarded the 2013 Oregon Parks and Recreation Department Local Government Grant. With that grant, the City of Sisters received $206,534 to go toward the design and construction of Fir Street Park (50 percent of the cost of the project; to pay for its half, the City tapped urban-renewal funds). The centerpiece of the park is a beautiful curved Craftsman-inspired timber-frame pavilion — another rather serendipitous component. Eagle Scout project of Sisters Boy Scout Rory Petterson, who designed the structure and worked with a crew of volunteer woodworkers to erect it during a Kiwanis-sponsored workshop, under the tutelage of Kris Calvin of Earthwood Timber Frame Homes (the wood for the project came from the Earthwood Homes yard).  City employees added the roof, along with the park’s other features: a splash play area, a performance stage and seating area, a picnic facility and (thank you very much) a public restroom facility.  All in all, it’s another welcome addition to town.       About the AuthorLisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and...
Cascade Avenue Update: Lighting Up the Town

Cascade Avenue Update: Lighting Up the Town

Drive through downtown Sisters, and it’s hard to believe that just a few short months ago, the main thoroughfare through town looked like this: Now, as the finishing touches of the Highway 20 rebuild project are completed — first the expanded sidewalks, then the wooden benches, stone planter boxes, aspen trees (see photo, right) and extensive landscaping — it’s possible to see the end in sight. And what an vision it’s shaping up to be.   The project, which began Jan.22 with the closing of Cascade Avenue to all vehicular traffic for a three-month stretch, recently received perhaps its most dramatic punctuation mark: gorgeous timber-frame streetlights that are now standing guard over each block of downtown. The massive — 18 1/2-foot tall!– craftsman-style posts are impressive, and not just because they’re so tall. They’re beautifully designed and greatly enhance Sisters’ already distinctive appearance. Constructed of laminated coastal Douglas fir from TimberWood Products and featuring light fixtures by Sternberg Lighting, they’re worlds removed from the standard city streetlight. Which is exactly the idea. Meanwhile, another impressive long-in-the-works public project has been  unveiled: the Fir Street Park.  Way to go, Sisters.   About the AuthorLisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and...