In December, the Sisters real estate market saw minimal changes. Sales were up slightly (from 12 in November to 13 in December), and the already low inventory continued to shrink — with Single Family Residential (SFR) listings at an 8.5-month supply and Residential with Acreage (RW) listings at just eight months. Listings at the lower end of the price spectrum are particularly tough to come by –- by the end of December, there were just nine Active SFR listings below $200,000 and only six Active RW listings below $300,000.
Perhaps the most interesting bit of trivia regarding the December real estate market in Sisters was the diversity of sales activity: The eight closed SFR sales were spread across eight different price brackets and ranged from $132,000 to $499,000, while the five RW sales spanned four price brackets, at a low of $242,000 and a high of $525,000.
At $399,750, the median price of Active SFR listings saw little change -– not from last month ($399,000) or last year at this time ($399,500). The median price of Active RW listings, on the other hand, continued its ongoing fluctuation: At $687,000, it was notably higher than last month (at $667,500) and almost alarmingly higher than last year at this time ($499,000). RW sellers shouldn’t assume that the increase means that their homes will sell for a higher price. At least in part, the shift is a result of the overall increase in sales activity at the lower end of the price scale –- and instead it should serve as a reminder to high-end sellers how important it is to price their homes accurately or risk remaining on the market.
Here are a few December highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 116 (64 Single Family Residences; 52
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (1 SFR, 0 RW)
Pending Residential Sales in Sisters: 6 (3 SFR; 3 RW)
Residential Sales in Sisters: 13 (8 SFR; 5 RW)
Average Days on Market: 262 days for Active SFR listings
298 days for Active RW listings
130 days for the SFR listings sold in December
222 days for the RW listings sold in December
Median Sales Price:
$399,750 for Active SFR listings
$687,000 for Active RW listings
$206,450 for the SFR listings sold in December
$444,000 for the RW listings sold in December
Single Family Residence: 8.5-month supply (90 sales in the previous 12 months)
Residential with Acreage: 8.0-month supply (78 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $115,900
Least-Expensive Residential with Acreage Active Listing: $168,000
Most-Expensive Single Family Residence Active Listing: $1,350,000
Most-Expensive Residential with Acreage Active Listing: $4,500,000
Price Point with the Most Active Listings:
SFR: $350,000-$399,999 (9 listings)
RW: $650,000-$699,999 & $750,000-$799,999 (each with 5 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.