In March, the Sisters real estate market saw a welcome increase in inventory, primarily among Single Family Residential (SFR) listings. There was also a dramatic bump in sales, which increased from 15 Closed sales in February to 24 Closed sales in March. That’s the highest number of sales in a single month since at least January 2009.
And if March is the beginning of a trend, it looks like the higher-end buyers are returning to Sisters. Although the bulk of the March sales were for homes priced below $300,000, included in those sales were seven homes above $400,000. And it appears that Residential With Acreage buyers have returned en force (at least for now): When it comes to Pending sales, there are three times as many RW listings as SFR listings (nine compared to three) –- and four of those are for properties listed above $450,000.
That increase in price also applies to Active listings. If you’re looking to purchase a Single Family Residence on less than an acre in Sisters, you’re now most likely to find a home priced between $400,000 and $449,000. With 11 Active listings in that price bracket, it’s by far the most popular price point (it has double the number of any other category). Consequently, the median list price for Active SFR listings is now $445,000.
When it comes to RW listings, expect to spend significantly more. Here, the majority of Active listings are held in the $750,000-$799,999 and $850,000-$899,999 brackets (a total of 11 listings). By contrast, there are just five Active RW listings below $450,000. Consequently, the median price for Active RW listings is now $779,000.
Here are a few March highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 106 (59 Single Family Residences; 47
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 12 (3 SFR; 9 RW)
Residential Sales in Sisters: 24 (13 SFR; 11 RW)
Average Days on Market: 195 days for Active SFR listings
270 days for Active RW listings
207 days for the SFR listings sold in March
283 days for the RW listings sold in March
Median Sales Price:
$445,000 for Active SFR listings
$779,900 for Active RW listings
$295,000 for the SFR listings sold in March
$354,900 for the RW listings sold in March
INVENTORY
Single Family Residence: 7.2-month supply (98 sales in the previous 12 months)
Residential with Acreage: 7.1-month supply (79 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $115,900
Least-Expensive Residential with Acreage Active Listing: $325,000
Most-Expensive Single Family Residence Active Listing: $2,400,000
Most-Expensive Residential with Acreage Active Listing: $4,500,000
Price Point with the Most Active Listings:
SFR: $400,000-$449,999 (11 listings)
RW: $750,000-$799,999 & $850,000-$899,999 (5 listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the March Sisters real estate market in detail.
