Central Oregon Real Estate Market Report for March 2015

Here are a few highlights of the March real estate market activity in Bend, Sisters and Tumalo.
It was a quiet month for all three markets, in terms of properties sold. However, by the end of the month, there was an impressive amount of sales activity throughout:

• In Bend, there were 66 SFR sales and 14 RW sales, compared to 244 Pending SFR sales and 22 Pending RW sales.
• The lion’s share of Bend’s Pending SFR sales were for properties priced between $200,000 and $450,000 (197 of 244 sales); included in the mix were two pending million-dollar SFR sales.
• By contrast, there was no million-dollar sales activity in either Closed or Pending sales among Bend’s RW properties. Almost half of the Closed RW sales were between $500,000 and $800,000 (six of 14 sales), while half of the Pending RW sales were between $350,000 and $500,000.
• Speaking of million-dollar properties, half of the Active RW listings in Tumalo were priced above one million dollars in March. That meant the median price for Active listings there also topped the million-dollar mark ($1,019,000). Although there were no Closed or Pending million-dollar sales in Tumalo, there were two Closed sales between $700,000-$800,000.
• In Sisters, there were just two SFR sales and one RW sale (all three of which were below $500,000), compared to 24 Pending sales (10 SFR properties, 14 RW properties). And although only one of those Pending SFR sales was for a property listed above $500,000, nine of the Pending RW sales were for properties listed above $500,000.
• The most popular price point for Sisters RW listings? It was a tie, between two million-dollar price brackets: $1,000,000-$1,249,999 and 1,2500,000-$1,499,999 (each with eight listings). By contrast, there were only six Active RW listings priced below $300,000.
• Almost half of the Active SFR listings in Sisters were priced between $300,000, and $500,000 (39 of 84 listings).

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 March 2015 for Bend, Tumalo and Sisters, based on data provided by MLSCO on April 7, 2015.



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