The Residential With Acreage (RW) real estate market remained strong in Tumalo during September, with nine closed sales. (Last year at this time, there were just five sales.) Included in the Closed sales was yet another million-dollar sale; that’s the fourth straight month that Tumalo has had a million-dollar sale. What’s more, by the end of the month, two properties listed between $800,000-$850,000 were under contract.
Although Tumalo has experienced more million-dollar sales activity this year than most markets within Central Oregon, the most popular price point for both Active listings and Closed sales in Tumalo during September was the $450,000-$499,000 bracket, with nine Active listings and four Closed sales. Also of note: For the first time since January 2012, the median price for Active listings dipped below $600,000 (to $575,000).
Meanwhile, the lack of inventory continues to be a concern. Although we’re moving toward the slower winter months, there were fewer Tumalo listings in September than August. Entry-level horse properties are especially hard to come by: As in August, there were just four Active RW listings in Tumalo below $300,000.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 most, but not necessarily all, of the listings in Tumalo.
Here are a few highlights of the September Tumalo real estate market:
Active Residential With Acreage Listings in Tumalo: 53
Contingent Residential With Acreage Sales in Tumalo: 0
Pending Residential With Acreage Sales in Tumalo: 6
Residential With Acreage Closed Sales in Tumalo: 9
Average Days on Market: 180 days for Active RW listings
65 days for the RW listings sold in September
Median Sales Price: $575,000 for Active RW listings
$461,000 for the RW listings sold in September
Residential with Acreage: 6.9-month supply (92 sales in the previous 12 months)
Least-Expensive Residential with Acreage Active Listing: $129,900
Most-Expensive Residential with Acreage Active Listing: $6,700,000
Price Point with the Most Active Listings: $450,000-$499,999 (9 listings)
Listings at $1,000,000 or more: 9
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the September Tumalo real estate market in detail.
Thinking of making a move to Tumalo? I’d love to help you find the perfect Central Oregon property. You can reach me by phone or text at (541) 480-0987 or by email.
About the Author
Lisa Broadwater, GRI, CDPE, is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Bend and Redmond.