Here are some highlights of the December real estate market activity for Single Family Residential (SFR) and Residential with Acreage (RW) listings in Bend, Sisters and Tumalo:
- In December, winter arrived in full force and never left, bringing with her an uncharacteristically long stretch of snow days (basically, there was snow on the ground the entire month). As expected, we saw a drop in the number of Active listings in all of the markets I follow, as sellers shifted their focus to the holidays.
- Most regions saw a sizable decrease in listings, while Bend’s Single Family Residential (SFR) listings and Sisters’ Residential with Acreage (RW) experienced an extreme dip: Sisters’ RW listings fell a whopping 35 percent from November to December (from 51 Active RW listings to 33), while Bend’s Active SFR listings decreased more than 15 percent (down from 426 listings in November to 360 listings in December). To get a sense of just how low inventory is dipping, compare the numbers to this time last year: There were 53 Active RW listings in Sisters last December, compared to 33 this December; and 419 Active SFR listings in Bend in December 2014, compared to 360 Active SFR listings this December. Let’s hope January doesn’t continue this trend.
- Despite the challenging weather, every market but one saw an increase in sales this month (and that segment, Bend’s RW listings, saw only a minor decrease, from 24 sales in November to 22 sales in December). Meanwhile, sales were up significantly among Bend’s SFR listings — 216 Closed sales, compared to 143 sales in November –- and among Tumalo’s RW listings, which increased from just three in November to 12 in December.
- High-end sales were numerous in every segment -– and all but one (Sisters SFR listings) included million-dollar sales.
Below are three graph overviews of real estate activity (the number of Active listings, the number of sales and the price of Active listings) from October 2013 through December 2015 for Bend, Tumalo and Sisters, based on data provided by MLSCO on Jan. 16, 2015.
*All listing information provided here is deemed reliable, but is not guaranteed and should be independently verified. The Multiple Listing Service of Central Oregon (MLSCO) does not verify the information provided and disclaims any responsibility or liability arising from any inaccuracy or inadequacy of said information or for typographical errors by MLSCO, or for any delay caused in dissemination of such information.
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.