Tumalo, Oregon Real Estate Market Report For June 2014

Tumalo, Oregon Real Estate Market Report For June 2014

In June, the Residential real estate market in Tumalo had another strong sales month, with eight Closed and six Pending sales. By contrast, last year at this time, there were just four Closed sales. (On a more positive note, June 2013 was followed by the busiest month of the year, when there were 12 Closed sales -– it’ll be interesting to see if we experience a repeat this July). Like May, there was a good deal of activity on the upper end of the price spectrum. Three of the eight Closed and two of the six Pending sales were for properties listed above $500,000. Meanwhile, among Active listings, the number of million-dollar properties increased notably — up from eight Active listings in May to 14 Active listings in June. Four of the those new listings were between $1,250,000 and $1,749,999, which made those two brackets tied for the second most popular price point, second only to the $550,000-$599,999 range. Given the increase in million-dollar listings, it might seem surprising that the median price of Active listings actually decreased in June, down from $624,900 to $615,000; that’s the lowest it’s been this year (the high so far has been $698,900, in March), which is good news for buyers. In June 2013, the median price of Active listings was $687,000. 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...
New Kid on the Block: Tumalo Peddlers Market

New Kid on the Block: Tumalo Peddlers Market

The first time I spotted the flashy white horse and buggy outfit in the parking lot of Tumalo Feed Co., I did a double-take. It isn’t every day you see a horse-drawn carriage parked in town (even Tumalo). But then again, that’s the idea: It made me look and wonder, “What the heck is that doing there?” Upon closer inspection, I discovered a number of out-of-the-ordinary vintage finds nearby. The sign atop the building that once housed my office (when I worked for RE/MAX) now announces ‘Wagon and Freight Company.”  But that’s not where we are; this is actually home to the Tumalo Peddlers Market –- a cottage full of interesting antiques and old-time curiosities –- and then some: The small outbuilding next door is also fully stocked with unusual vintage goodies. The shop is the handiwork of Jon Christensen, who previously owned Pickers n’ Peddlars in downtown Tumalo (across the highway). It’s an offshoot of the seasonal Peddlers Market that Christensen started in the Tumalo Feed Company parking lot last summer (it runs the second Saturday of the summer months, from 8 am- 3 pm). A number of vendors rent space in the two buildings and offer a diverse selection of rustic collectibles. For the antiques aficionado, it’s a noteworthy addition. Check it out! DETAILS, DETAILS: The store, which is located at 64619 Highway 20, is open Tuesday-Saturday from 11 am-6 pm. The summertime parking-lot flea markets are the second Saturday of the month through September from 8 am-3 pm. 541-948-9094. Here are a few more photos of the market:               About the...
Tumalo, Oregon Real Estate Market Report For April 2014

Tumalo, Oregon Real Estate Market Report For April 2014

As was the case in March, Tumalo’s Residential With Acreage (RW) real estate market didn’t see the expected increase in inventory; granted, we didn’t see another decrease, either (the number held steady at 39). What did improve was the number of sales –- up from just two Closed Sales in March to eight Closed sales in April. There were also an impressive 11 Pending sales by the end of the month (up from just seven in March); and included in the sales mix were two million-dollar sales (one Closed and one Pending). Another shift in April involved the days on market (DOM) for Closed sales, which averaged a massive 311 DOM, thanks in part to two listings that had been on the market for almost two years. Glad to see those listings finally move! Perhaps the biggest change since this time last year involved the median price for Active listings, which has decreased quite a bit since April 2013: It was $649,900 this month, compared to $712,000 in April 2013. There’s also been a slight improvement in terms of inventory since April 2013. At that time, there was just a 4.6-month supply of Active listings, compared to a 5.3-month supply in April 2014. 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 highlights...
Tumalo, Oregon Real Estate Market Report For March 2014

Tumalo, Oregon Real Estate Market Report For March 2014

Well, there’s not much to report about the Tumalo Residential real estate market for March. All in all, it was a very quiet month. We didn’t see the expected increase in listings; the number of Active listings actually went down (from 41 to 39). However, it could be worse on that front: Last year at this time, there were just 26 Active listings and 4.3 months of inventory (compared to 4.6 months of inventory this March). Not a lot for buyers to choose from. We also didn’t see an increase in sales; like the inventory, the number of Closed sales decreased this month (from four Closed sales in February to two Closed sales in March). Both sales were below $450,000. Last year at this time, the market was a bit more active: There were eight Closed sales (five of which were above $500,000), and 12 Pending sales (one of which was for a property listed at $1,495,000), compared to seven Pending sales at the end of March 2014 (the most expensive of which was listed at $725,000). One notable improvement since this time last year: the number of days on market (DOM) for Active listings. In March 2014, Active listings had been on the market an average of 170 days, compared to 243 DOM in March 2013.     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...
Tumalo, Oregon Real Estate Market Report For February 2014

Tumalo, Oregon Real Estate Market Report For February 2014

At first glance, you might think I’ve mistakenly reprinted the Tumalo real estate market statistics for January, not February. That’s because the numbers for the two months are eerily similar: In fact, January and February have the exact same number of Active Residential With Acreage (RW) listings and the same number of Closed sales. The number of days on market for Active listings was also right in line (165 days for February and 160 for January), as were Pending sales (three for February and five for January). One key difference between the two months: There was not a million-dollar sale in February  — there wasn’t even a sale above $410,000. Hmmm, maybe the two feet of snow that got dumped on Central Oregon at the beginning of the month kept everyone home. Or not –- Last February’s numbers were almost identical (with six Closed sales, all below $500,000). This year, Tumalo was in a little better shape when it comes to overall supply, with 41 Active listings, compared to just 30 Active listings in February 2013. Half of those listings are priced between $400,000 and $750,000, and nine Active listings are a million dollars or more. The number of days on market (DOM) for Active listings has improved quite a bit since this time last year: 165 days in February 2014, compared to 217 DOM in February 2013. One thing that hasn’t changed a lot: the median price of Active listings; it was $685,000 in February 2014, compared to $679,999 in February 2013. Meanwhile, the lack of inventory (determined by dividing the number of Active listings by the number...
Tumalo, Oregon Real Estate Market Report For January 2014

Tumalo, Oregon Real Estate Market Report For January 2014

Last year, the Tumalo Residential With Acreage (RW) real estate market had a banner year when it came to million-dollar sales –- there were 10 in all. That’s quite a feat, considering that in 2012, there was just one million-dollar sale in Tumalo. By comparison, in 2012, Bend had 10 million-dollar sales, Sisters had five and Redmond/Terrebonne had two. Given the 2013 trend in Tumalo, it shouldn’t come as a surprise to learn that January 2014 saw another million-dollar sale there. Also not surprisingly, that sale was the highlight in what was a fairly quiet month for Tumalo. The number of Closed sales in January was down from the previous month; in fact, it was less than half that of December -– four compared to nine. However, while December ended without a single sale Pending in Tumalo, that wasn’t the case in January; there were five. Granted, almost all the sales activity in January was at the lower end of the price scale. Four of the five Closed sales were below $500,000, as were four of the five Pending sales; there were also two Contingent sales, both below $400,000. Another area that saw a slight decrease in January was the median price for Active listings, which was down from $637,450 in December to $625,000 in January. The most significant change from the Tumalo real estate market of January 2013 involves the days on market. In January 2014, the Active RW listings in Tumalo had spent an average of 160 days on market, which is a noticeable improvement from a year ago at this time, when it was 189 DOM....
Tumalo, Oregon Real Estate Market Report For December 2013

Tumalo, Oregon Real Estate Market Report For December 2013

In a year notable for its million-dollar sales, Tumalo’s Residential With Acreage (RW) real estate market ended the year, fittingly enough, with two more million-dollar sales. One key difference, however: This time, the two properties (sold for a total of $4.1 million) were never even officially listed. That brings the year-end total of million-dollar sales to 10, with a sales volume of $16,585,302. Consequently, the concentration of Active million-dollar listings in Tumalo has seen quite a shift in the past 12 months. Last December, the 35 Active RW listings included 11 properties priced at a million dollars or more, which comprised 31 percent of the Active listings in Tumalo. By contrast, in December 2013, just eight of the 40 Active listings were priced at a million dollars or more, comprising 20 percent of the Active listings. Another interesting bit of trivia about December: Although there were nine Closed sales (five of which were above $400,000), there wasn’t a single Pending or Contingent sale at the end of the month. I can’t remember when that last happened. We’ll see if that signals a quiet January for Tumalo. It may simply mean a slight shift in timing; in December 2012, there was just one Closed sale, for $265,000. Meanwhile, the number of days on market has seen a notable improvement since last year at this time. In December 2012, the average days on market for Active RW listings in Tumalo was 209. By December 2013, that number had dropped to 177 –- and didn’t include a single property that had been listed longer than 10 months. By contrast, last year at...
Tumalo, Oregon Real Estate Market Report For November 2013

Tumalo, Oregon Real Estate Market Report For November 2013

In November, the Residential With Acreage (RW) real estate market in Tumalo was not most noteworthy for its million-dollar activity — for a change (although a million-dollar property did go under contract). No, this month it was the activity among lower-priced properties that most piqued my interest. To wit: Three of the six Closed RW sales were below $300,000, and six of the seven Pending sales were for properties listed below $500,000. Consequently, the inventory of lower-priced properties continues to decrease, while the percentage of million-dollar listings is on the rise. Which brings me to the bad news for entry-level horse-property buyers in Tumalo: In November, there was no longer a single RW property on the market listed below $225,000 (and there was only one below $250,000, with a total of three below $300,000). The number of million-dollar listings, on the other hand, rose from nine to 11. Overall, the inventory of available properties decreased from a 6.9-month supply in October to a 6.4-month supply in November. Although the pickin’s are pretty slim in Tumalo, especially among lower-priced properties, buyers could have it worse: Last year at this time, there was just a 5.6-month supply. Meanwhile, buyers have seen a significant increase in the median sales price of Active RW listings in Tumalo. In November 2013, it was $687,500, compared to $649,900 in November 2012.  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...
(function(i,s,o,g,r,a,m){i[\'GoogleAnalyticsObject\']=r;i[r]=i[r]||function(){ (i[r].q=i[r].q||[]).push(arguments)},i[r].l=1*new Date();a=s.createElement(o), m=s.getElementsByTagName(o)[0];a.async=1;a.src=g;m.parentNode.insertBefore(a,m) })(window,document,\'script\',\'//www.google-analytics.com/analytics.js\',\'ga\'); ga(\'create\', \'UA-31206370-1\', \'auto\'); ga(\'send\', \'pageview\');