Central Oregon Real Estate Market Report for October 2015

Here are some highlights of the October real estate market activity for Single Family Residential (SFR) and Residential with Acreage (RW) listings in Bend, Sisters and Tumalo:

• No surprise, the number of Active listings decreased in all five markets in October. The decline was modest in most segments, though, except among Bend’s Single Family Residential listings, which decreased notably — from 544 listings in September to 466 listings in October. Sisters’ SFR listings also decreased a fair bit, from 91 to 76.
• Speaking of Sisters, Sisters’ SFR listings experienced an inexplicable spike in sales: up from 11 Closed sales in September to 25 Closed sales in October. It was the only segment that I track that didn’t experience the typical seasonal decline in sales. All but two of those SFR sales were below $500,000 (with a median sales price of $330,000); the highest priced SFR sale was for $625,000.
• The price of Active listings compared to a year ago at this time shows an increase across the board. While Bend’s Active RW listings increased modestly (from $685,000 in October 2014 to $698,000 in October 2015), the other markets all saw fairly dramatic increases: Bend’s Active SFR listings increased from $370,000 to $459,000, Sisters’ Active SFR listings increased from $400,000 to $470,000, Sisters’ Active RW listings increased from $745,000 to $819,000 and Tumalo’s Active RW listings increased from $741,000 to $949,000.

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 October 2015 for Bend, Tumalo and Sisters, based on data provided by MLSCO on Nov. 14, 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.