After a very active December, the Residential real estate market in Sisters slowed down notably in January: There were just seven Closed sales, compared to 13 in December. Sales activity was especially slow among the Residential With Acreage (RW) properties, with just two Closed and four Pending sales. Although sales activity among Single Family Residential (SFR) listings was also slower (just five Closed sales), there were 10 Pending SFR sales, which should mean a fairly active February.
In December, it was the high-end properties that sold (nine of the 13 Closed sales were for more than $450,000). Not so in January. Only one of the six Closed sales was above $450,000, and not one of the 14 Pending sales was above $300,000.
The lack of inventory of Active listings in Sisters continues to be an issue, especially at the lower price points. Both categories have about a six-month supply of homes overall, but significantly fewer options below $300,000.
Meanwhile, the median price of Active listings has increased: For Active SFR listings, it was $509,500, compared to $484,000 in December. For Active RW listings, it was $695,000, compared to $675,000 in December.
Here are a few January highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 110 61 Single Family Residences; 49
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 14 (10 SFR; 4 RW)
Residential Sales in Sisters: 7 (5 SFR; 2 RW)
Average Days on Market: 195 days for Active SFR listings
191 days for Active RW listings
133 days for the SFR listings sold in January
541 days for the RW listings sold in January
Median Sales Price: $509,500 for Active SFR listings
$695,000 for Active RW listings
$310,000 for the SFR listings sold in January
$625,000 for the RW listings sold in January
INVENTORY
Single Family Residence: 5.7-month supply (129 sales in the previous 12 months)
Residential with Acreage: 6.1-month supply (96 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $160,000
Least-Expensive Residential with Acreage Active Listing: $225,000
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $3,250,000
Price Point with the Most Active Listings:
SFR $350,000-$399,999 & $550,000-$599,999 (each w/9 listings)
RW: $450,000-$499,999 & $1,000,000-$1,249,999 (each w/5 listings)
Sisters, Oregon Real Estate Market Report For January 2014
