In December, the Sisters residential real estate market continued to see a decline in Active listings: The number of Single Family Residential (SFR) listings decreased from 79 in November to 65 in December, and the number of Active Residential with Acreage (RW) listings decreased from 76 in November to 53 in December.
Despite the dwindling inventory of homes on the market, sales were strong: 17 Closed sales and 11 Pending sales. All eight of the Closed SFR sales were below $500,000, while three of the nine Closed RW sales were above $500,000. There were no Closed or Pending sales above $700,000.
For sellers, there was one common denominator in December, among both SFR and RW listings: few available options for buyers with smaller budgets: In fact, there were just four Active RW listings below $350,000 and five Active SFR listings below $250,000. The most popular price point among Active SFR listings was not too removed from that: the $350,000-$399,999 bracket (16 of the 65 listings), with the $250,000-$299,999 bracket taking second place (eight listings).
Meanwhile, at first glance, it might appear that the Active RW listings were fairly evenly distributed among all price points. However, if you look at the overall RW picture, one price point stands out: the million-dollar listing. In December, 17 of the 53 Active RW listings — 32 percent — were priced at $1 million or above. Considering that Sisters had just five million-dollar sales total (both SFR and RW properties) in all of 2014, that could mean a quiet winter for many Sisters sellers.
Here are some highlights of the Sisters real estate market in December, based on data provided by MLSCO on Jan. 13, 2015:
Active Residential Listings in Sisters: 118 (65 Single Family Residences; 53
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 11 (3 SFR; 8 RW)
Residential Sales in Sisters: 17 (8 SFR; 9 RW)
Average Days on Market: 241 days for Active SFR listings
249 days for Active RW listings
139 days for the SFR listings sold in December
142 days for the RW listings sold in December
Median Sales Price: $399,500 for Active SFR listings
$769,900 for Active RW listings
$229,146 for the SFR listings sold in December
$362,000 for the RW listings sold in December
Single Family Residence: 5.8-month supply (130 sales in the previous 12 months)
Residential with Acreage: 7.3-month supply (87 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $169,900
Least-Expensive Residential with Acreage Active Listing: $125,000
Most-Expensive Single Family Residence Active Listing: $1,349,000
Most-Expensive Residential with Acreage Active Listing: $2,900,000
Price Point with the Most Active Listings: SFR $350,000-$399,999 (16 listings)
RW: $1,000,000-$1,249,999 (seven listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the December Sisters real estate market in detail.
Thinking of making a move to Sisters? 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.