In February, the Sisters residential real estate market saw little change from the previous month. Closed Sales were down slightly (from 14 in January to 11 in February); however, Pending Sales were up (from 11 in January to 16 in February).
The number of overall listings saw only a slight increase, too — up from 118 in January to 122 in February. Given the current level of buyer interest, we could actually use some more listings -– especially in the lower price points. In February, there were only six Active Single Family Residential listings under $250,000 and only nine Residential With Acreage Active listings under $300,000. However, five of the seven Closed SFR sales were below $200,000, and five of the six Pending SFR sales were below $250,000.
Like last month, much of the RW sales activity was among the mid-range listings, with three of the four closed sales between $300,000 and $750,000. And like SFR listings, there are few lower-priced Active RW options – only nine below $250,000.
One interesting shift: In February, there was actually a new listing below $100,000 –- however, it was an RW listing (the least expensive SFR listing was $112,000).
Here are a few February highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 122 (72 Single Family Residences; 50 Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 16 (6 SFR; 10 RW)
Residential Sales in Sisters: 11 (7 SFR; 4 RW)
Average Days on Market: 231 days for Active SFR listings
218 days for Active RW listings
161 days for the SFR listings sold in February
190 days for the RW listings sold in February
Median Sales Price: $399,495 for Active SFR listings
$604,900 for Active RW listings
$185,000 for the SFR listings sold in February
$344,450 for the RW listings sold in February
Single Family Residence: 10.1-month supply (86 sales in the previous 12 months)
Residential with Acreage: 8.3-month supply (72 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $112,000
Least-Expensive Residential with Acreage Active Listing: $99,900
Most-Expensive Single Family Residence Active Listing: $2,900,000
Most-Expensive Residential with Acreage Active Listing: $4,500,000
Price Point with the Most Active Listings:
SFR: $250,000-$299,999 (15 listings) & $350,000-$399,999 (9 listings)
RW: $350,000-$499,999 (5 listings) & $650,000-$699,999 (5 listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the February 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.