April was another busy month for the Sisters real estate market, and progress was made on several fronts. First, the number of Active listings increased a bit, giving buyers more options to choose from (up from 106 in March to 116 in April). However, with just nine Residential listings below $250,000, there’s still a notable lack of inventory in the lower price points. Last year at this time, the $200,000-$249,999 price bracket was the most popular category for Active Single Family Residential (SFR) listings (with 13); this April, the $400,000-$449,999 is the most popular (with 12 listings). And lower-priced Residential with Acreage (RW) listings are getting even harder to come by, with just three Active RW listings below $450,000 at the end of April.
Last month, I speculated that higher-end buyers were returning to Sisters, and that certainly proved to be the case in April: Two multi-million-dollar homes went under contract (one listed for $2,500,000 and one listed for $4,500,000). Meanwhile, five of the 12 Closed sales were for more than $450,000. And although the overall sales numbers decreased, that number was down from a four-year-high of 24 to a still-quite-respectable 14.
The days on market (DOM) for Sisters listings also improved in April. Active SFR listings decreased from 195 DOM in March to 177 DOM in April, while Active RW listings went from 270 DOM in March to 212 DOM in April. The shift in days on market for the homes that sold in April was even more dramatic: SFR listings that sold in April were on the market an average of 115 days, compared to 207 days in March, while RW listings that sold in April were on the market an average of 185 days, compared to 283 days in March.
Here are a few April highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 116 (65 Single Family Residences; 51
Residential with Acreage)
Contingent Residential Sales in Sisters: 3 (3 SFR, 0 RW)
Pending Residential Sales in Sisters: 12 (5 SFR; 7 RW)
Residential Sales in Sisters: 12 (6 SFR; 6 RW)
Average Days on Market: 177 days for Active SFR listings
212 days for Active RW listings
115 days for the SFR listings sold in April
185 days for the RW listings sold in April
Median Sales Price: $449,500 for Active SFR listings
$795,000 for Active RW listings
$263,578 for the SFR listings sold in April
$426,200 for the RW listings sold in April
INVENTORY
Single Family Residence: 7.9-month supply (99 sales in the previous 12 months)
Residential with Acreage: 7.9-month supply (77 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $180,000
Least-Expensive Residential with Acreage Active Listing: $199,000
Most-Expensive Single Family Residence Active Listing: $2,400,000
Most-Expensive Residential with Acreage Active Listing: $2,480,000
Price Point with the Most Active Listings:
SFR: $400,000-$449,999 (12 listings)
RW: $450,000-$499,999 (7 listings)
Thinking of a 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.