January proved to be another strong month for sales activity in Sisters, with 18 Closed sales and 10 Pending sales. What a long way we’ve come from the winter of 2009, when several months could only count two or three Closed sales!
Meanwhile, the strong sales combined with only a slight increase in the number of listings (from 123 in December to 128 in January) helped bring the overall inventory down a bit further (from a 8.9-month supply of Single Family Residences and a 12.9-month supply of homes on acreage in December to an 8.6 month-supply of Single Family Residences and a 12.4-month supply for homes on acreage in January. (A balanced market has about a six-month supply of inventory).
In January, the median list price of Single Family Residences fell from $390,000 to $359,450, while the median price of Residential with Acreage listings decreased from $560,000 to $549,900. If the sellers in Sisters continue to adjust their prices to be more in line with the current market, we’ll really be in good shape.
Here are a few January highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 128 (68 Single Family Residences; 60 Residential with Acreage)
Contingent Residential Sales in Sisters: 3 (3 SFR, 0 RW)
Pending Residential Sales in Sisters: 10 (7 SFR; 3 RW)
Residential Sales in Sisters: 18 (12 SFR; 6 RW)
Average Days on Market: 246 days for Active SFR listings
283 days for Active RW listings
222 days for the SFR listings sold in January
183 days for the RW listings sold in January
Median Sales Price: $359,450 for Active SFR listings
$549,900 for Active RW listings
$174,995 for the SFR listings sold in January
$204,750 for the RW listings sold in January
Single Family Residence: 8.6-month supply (95 sales in the previous 12 months)
Residential with Acreage: 12.4-month supply (58 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $110,000
Least-Expensive Residential with Acreage Active Listing: $197,500
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: $180,000-$199,999, 300,000-$349,999 & $600,000-$649,999 (each with six listings)
RW: $350,000-$399,999 (10 listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the Sisters real estate market in detail.
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.