In December, the Sisters real estate market took a bit of a breather, with a slight reduction in both listings and sales.
As expected, the overall inventory shrank a bit, from 130 listings in November to 117 in December. What did come as a bit of surprise was the breakdown of that reduction: Almost all the activity was among Residential with Acreage listings, which shrank from 57 listings in November to 45 in December. Single Family Residential listings, on the other hand, had only one less listing in December.
When it came to sales, however, the bulk of the activity was among SFR listings, which accounted for seven of the nine closed sales. Most of the sales — six of the seven SFR sales and one of the two closed RW sales — were below $300,000. There was a bit more activity among higher-end properties in the pending sales; two RW listings above $600,000 went under contract (including one listed at $1.4 million).
The supply for both categories continued its downward trend: There is now a 9.4-month supply of SFR listings (down from 9.8 months in November) and a 7.1-month supply of RW listings (down from 9.8 months in November). Buyers of lower-priced homes on acreage may face a bit of a challenge, depending on their wants and needs -– there were only seven Active listings under $300,000 in December.
Here are a few December highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 117 (72 Single Family Residential; 45 Residential with Acreage)
Contingent Residential Sales in Sisters: 3 (1 SFR, 2 RW)
Pending Residential Sales in Sisters: 9 (4 SFR, 5 RW)
Residential Sales in Sisters: 9 (7 SFR, 2 RW)
Average Days on Market:
230 days (for Active SFR listings)
273 days (for Active RW listings)
222 days (for SFR listings sold in December)
110 days (for RW listings sold in December)
Median Sales Price:
$399,495 for Active SFR listings
$499,000 for Active RW listings
$184,545 for SFR listings sold in December
$469,750 for RW listings sold in December
INVENTORY:
Single Family Residential: 9.4-month supply (92 sales in the previous 12 months) Residential With Acreage: 7.1-month supply (76 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residential Active Listing: $94,000
Least-Expensive Residential With Acreage Active Listing: $144,900
Most-Expensive Single Family Residential Active Listing: $2,590,000
Most-Expensive Residential With Acreage Active Listing: $4,500,000
Price Point with the most Active Listings:
SFR: $250,000-$299,999 & $350,000-$399,999 (each w/10 listings)
RW: $450,000-$499,999 (six 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, Redmond and Bend.
