If June was all about shopping for deals in the Sisters residential real estate market, July was noteworthy for its activity at the high end of the price scale. Not only were sales overall strong for the third month in a row (16 sales), but July also saw the sale of Sisters’ first million-dollar properties. That’s right, million-dollar properties — two million-dollar sales closed (they were, in fact, the first million-dollar sales in Sisters this year). Both were Residential with Acreage (RW) listings.
At the end of July, there were also three pending sales and one contingent sale above $500,000 — all of which are also homes on acreage. And it looks like the brisk activity among homes on acreage will continue at least one more month, based on the number of RW listings that are pending (there are eight).
Meanwhile, the number of active listings in both Single Family Residence (SFR) and Residential with Acreage increased again, from 166 in June to 191 in July, as it typically does during the peak summer months (the low this year was 129 listings in January). However, the overall supply of RW listings (which compares the sales of the past 12 months to the number of active listings) actually decreased a bit, from a 14.5- month supply in June to a 13.8-month supply in July. The inventory of SFR listings, on the other hand, increased from an 11.4-month supply in June to a 12.9-month supply.
One interesting fluke (or not): In July, the most popular price point for both the Active SFR and Active RW listings was $450,000-$499,000, and each category had 12 active listings in that price range.
Active Residential Listings in Sisters: 191 (100 Single Family Residences; 91
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 18 (10 SFR; 8 RW)
Residential Sales in Sisters: 16 (8 SFR; 8 RW)
Average Days on Market: 185 days for Active SFR listings
202 days for Active RW listings
175 days for the SFR listings sold in July
442 days for the RW listings sold in July
Median Sales Price:
$495,000 for Active SFR listings
$550,000 for Active RW listings
$291,500 for the SFR listings sold in July
$436,000 for the RW listings sold in July
Single Family Residence: 12.9-month supply (93 sales in the previous 12 months)
Residential with Acreage: 13.8-month supply (79 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $120,000
Least-Expensive Residential with Acreage Active Listing: $199,000
Most-Expensive Single Family Residence Active Listing: $2,590,000
Most-Expensive Residential with Acreage Active Listing: $4,500,000
Price Point with the Most Active Listings:
SFR: $450,000-$499,999 (12 listings)
RW: $450,000-$499,999 (12 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.
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, Redmond and Bend.