Finally, with the arrival of April came a decent improvement in the Sisters residential real estate inventory: The supply of Active listings increased from 124 in March to 146 in April. What’s more, the number of sales increased significantly too: up from eight Closed sales in March to an impressive 22 Closed sales in April.
That’s also quite an improvement from this time last year, when there were just 116 Active listings and 12 Closed sales.
Meanwhile, there’s more good news for sellers in Sisters: The days on market (DOM) were down notably in April –- from 207 DOM for March’s SFR listings to 184 in April, and down from 192 DOM for March’s RW listings to 180 in April. Especially impressive were the days on market from RW listings that sold in April: The 10 listings were on the market an average of just 62 days.
Granted, there is still a lack of moderately priced options for buyers –- just six Active Single Family Residential (SFR) listings below $250,000 and seven Active Residential With Acreage (RW) listings below $400,000.
When it came to sales, there was little activity above $500,000: All but two of the Closed and all 10 of the Pending SFR sales were below $450,000, while nine of the 10 Closed and five of the seven Pending RW sales were below $500,000. There was one million-dollar RW property (listed at $1,750,000) under contract by the end of the month.
Here are some highlights of the Sisters real estate market in April, based on data provided by MLSCO on May 9, 2014:
Active Residential Listings in Sisters: 146 (83 Single Family Residences; 63
Residential with Acreage)
Contingent Residential Sales in Sisters: 0 (0 SFR, 0 RW)
Pending Residential Sales in Sisters: 17 (10 SFR; 7 RW)
Residential Sales in Sisters: 22 (12 SFR; 10 RW)
Average Days on Market: 184 days for Active SFR listings
180 days for Active RW listings
145 days for the SFR listings sold in April
62 days for the RW listings sold in April
Median Sales Price: $485,000 for Active SFR listings
$689,900 for Active RW listings
$290,842 for the SFR listings sold in April
$280,500 for the RW listings sold in April
Single Family Residence: 8.3-month supply (120 sales in the previous 12 months)
Residential with Acreage: 8.3-month supply (91 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $155,000
Least-Expensive Residential with Acreage Active Listing: $159,000
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $3,400,000
Price Point with the Most Active Listings:
SFR $350,000-$399,999 (16 listings)
RW: $350,000-$399,999 & $1,000,000-$1,249,999 (six listings each)
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.