This has proven to be a very strong summer for the Residential real estate market in Sisters. In August, the sales were once again strong, with 24 Closed and 21 Pending sales. Included in the mix was Sisters’ second million-dollar sale of the year (both have been in Black Butte Ranch). The home, listed for $2,395,000, sold for $1,800,000; it had been on the market 185 days, with no price reductions during that time.
Among Single Family Residential (SFR) listings, it was the lower-priced and mid-range properties that saw the most sales activity. All 13 of the Closed sales were below $400,000, as were all but two of the 15 Pending sales. What’s more, four of the Closed sales and six of the Pending sales were between $200,000-$250,000, making this by far the most popular price point for Sisters’ buyers.
Within the Residential with Acreage (RW) segment, however, it was the higher-end properties that sold: Nine of the 11 Closed sales were above $500,000, and all six of the Pending sales were above $400,000.
Because so many higher-priced RW properties sold in August, the days on market for Closed RW sales was especially high: 358 DOM (compared to 119 DOM in July). That included a home that had been listed for a whipping 1,753 days (good riddance!). It also brought the median sales price for Closed RW sales up to $649,000 (compared to $437,450 in July).
By contrast, the Closed SFR sales had an average of 145 DOM, with Pending sales at a respectable 106 DOM.
Here are a few August highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 153 (83 Single Family Residences; 70
Residential with Acreage)
Contingent Residential Sales in Sisters: 0 (0 SFR, 0 RW)
Pending Residential Sales in Sisters: 21 (15 SFR; 6 RW)
Residential Sales in Sisters: 24 (13 SFR; 11 RW)
Average Days on Market: 157 days for Active SFR listings
161 days for Active RW listings
145 days for the SFR listings sold in August
358 days for the RW listings sold in August
Median Sales Price: $419,900 for Active SFR listings
$792,000 for Active RW listings
$285,000 for the SFR listings sold in August
$649,000 for the RW listings sold in August
INVENTORY
Single Family Residence: 7.9-month supply (125 sales in the previous 12 months)
Residential with Acreage: 8.6-month supply (97 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $179,000
Least-Expensive Residential with Acreage Active Listing: $189,000
Most-Expensive Single Family Residence Active Listing: $2,100,000
Most-Expensive Residential with Acreage Active Listing: $3,750,000
Price Point with the Most Active Listings:
SFR $350,000-$399,999 (12 listings) & $250,000-$299,999 (11 listings)
RW: $850,000-$899,999 (8 listings) & $650,000-$699,999 & $1,000,000-$1,249,999 (each with 7 listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the August 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.
