In September, the residential real estate market in Sisters saw two varying sales trends. In terms of Single Family Residential (SFR) listings, the bulk of the activity was among lower-priced properties, with five of the six closed sales under $400,000, and eight of the nine pending sales under $350,000.
Residential With Acreage (RW) listings, on the other hand, once again saw more sales activity among higher-priced properties, with five of the six closed sales above $400,000 and two of the four pending sales above $650,000 (including one listing above $1,500,000).
The strength of the RW market was also evident in terms of its inventory, which decreased from a 12.9-month supply in August to an 11.6-month supply in September, SFR listings, on the other hand, increased slightly, from a 12-month supply in August to a 12.4-month supply in September. But both compare extremely favorably to the previous two years at this time: In September 2010, there was a 13.7-month supply of SFR listings and a 21.8-month supply of RW listings; in September 2009, there was a 25-month supply of SFR listings and a 37-month supply of RW listings.
As expected, both segments saw a bit of an increase in Active listings, as we head into fall (there were 95 SFR listings in September, compared to 92 in August; and 86 RW listings in September, compared to 80 in August). That’s a sizable improvement over the past two years at this time (there were a total of 192 listings in September 2010 and 194 listings in September 2009).
Here are a few September highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 172 (92 Single Family Residences; 80 Residential with Acreage)
Contingent Residential Sales in Sisters: 5 (2 SFR, 3 RW)
Pending Residential Sales in Sisters: 13 (9 SFR; 4 RW)
Residential Sales in Sisters: 13 (7 SFR; 6 RW)
Average Days on Market: 229 days for Active SFR listings
223 days for Active RW listings
280 days for the SFR listings sold in September
188 days for the RW listings sold in September
Median Sales Price:
$495,000 for Active SFR listings
$499,000 for Active RW listings
$239,000 for the SFR listings sold in September
$467,500 for the RW listings sold in September
Single Family Residence: 12.4-month supply (89 sales in the previous 12 months)
Residential with Acreage: 12.9-month supply (83 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $112,000
Least-Expensive Residential with Acreage Active Listing: $189,000
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: $350,000-$399,999 (10 listings) & $250,000-$299,999 (9 listings)
RW: $450,000-$499,999 (16 listings) & $750,000-$799,999 (9 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.