January is typically a pretty busy sales month for Sisters real estate –- there were 14 sales in January 2012, 18 in January 2011 and 11 in 2010. In January 2013, however, there were just seven Closed Residential sales in Sisters. That’s the same number as there were in January 2009, when Sisters was deep in the throes of the real estate downturn.
There are a couple of key differences between now and then, though. First, there is significantly less existing inventory than in January 2009 –- almost 30 percent fewer Active listings. That means there are fewer options for potential buyers — especially at the lower end of the price spectrum. In fact, by the end of January 2013, there were only five Active Single Family Residential (SFR) listings below $200,000 and only four Active Residential With Acreage listings below $300,000.
Another key difference between now and then: then number of Pending sales. By the end of January 2013, there were 21 Pending sales in Sisters. (By contrast, there were just four Pending sales by the end of January 2009.) That’s more Pending sales activity than we saw in a single month during all of 2012.
Here are a few January highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 106 (60 Single Family Residences; 46
Residential with Acreage)
Contingent Residential Sales in Sisters: 2 (1 SFR, 1 RW)
Pending Residential Sales in Sisters: 21 (13 SFR; 8 RW)
Residential Sales in Sisters: 7 (4 SFR; 3 RW)
Average Days on Market: 273 days for Active SFR listings
322 days for Active RW listings
165 days for the SFR listings sold in January
126 days for the RW listings sold in January
Median Sales Price:
$399,750 for Active SFR listings
$699,000 for Active RW listings
$191,320 for the SFR listings sold in January
$285,000 for the RW listings sold in January
Single Family Residence: 8.0-month supply (90 sales in the previous 12 months)
Residential with Acreage: 7.0-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: $202,800
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 January 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.