In May, the Sisters real estate market saw a sizable –- and much needed -– increase in inventory, up from 116 Active listings in April to 146 in May. That’s especially good news for buyers searching for homes in the lower price points: Included in the new mix were seven RW listings between $350,000 and $450,000 — a price point that had zero listings in April. The number of SFR listings between $350,000 and $400,000 also rose (with 11 listings in May, compared to just seven in April).
However, even with the additional lower-priced listings, the most popular price point for Active RW listings in May was the $850,000-$899,999 bracket. With nine listings, it had almost double any other price bracket. Meanwhile, the most popular price point among Active SFR listings was $400,000-$449,999 (12 listings), with $350,000-$399,999 closely behind (11 listings).
When it came to sales in May, all four Closed SFR sales were below $350,000, although four of the nine Pending SFR sales were for homes listed above $400,000. Comparatively, four of the nine Closed RW sales were for more than $500,000, and three of the six Pending RW sales were for homes listed above $450,000. The total number of sales (15) equaled that of last year at this time.
The days on market (DOM) for Sisters listings once again improved. Active SFR listings decreased from 177 DOM in April to 168 DOM in May, while Active RW listings went from 212 DOM in April to 182 DOM in May.
Here are a few May highlights of the Sisters real estate market:
LISTING ACTIVITY
Active Residential Listings in Sisters: 146 (79 Single Family Residences; 67
Residential with Acreage)
Contingent Residential Sales in Sisters: 0 (0 SFR, 0 RW)
Pending Residential Sales in Sisters: 15(9 SFR; 6 RW)
Residential Sales in Sisters: 13 (4 SFR; 9 RW)
Average Days on Market: 168 days for Active SFR listings
182 days for Active RW listings
251 days for the SFR listings sold in May
265 days for the RW listings sold in May
Median Sales Price: $419,900 for Active SFR listings
$779,000 for Active RW listings
$272,500 for the SFR listings sold in May
$380,000 for the RW listings sold in May
INVENTORY
Single Family Residence: 10.1-month supply (93 sales in the previous 12 months)
Residential with Acreage: 9.9-month supply (81 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $174,900
Least-Expensive Residential with Acreage Active Listing: $189,000
Most-Expensive Single Family Residence Active Listing: $2,400,000
Most-Expensive Residential with Acreage Active Listing: $2,480,000
Price Point with the Most Active Listings:
SFR: $400,000-$449,999 (12 listings) & $350,000-$399,999 (11 listings)
RW: $850,000-$899,999 (9 listings)
