In June, the Sisters residential real estate market seemed right on track, considering the time of year: Inventory continued to rise: up from 276 Active Residential listings in May to 187 in June. And sales were strong: 12 Closed Single Family Residential (SFR) and 10 Closed Residential With Acreage (RW) sales, up from 13 Closed SFR and six Closed RW sales in May. Typically, sales are stronger among SFR listings; however, in June, sales of SFR listings decreased, while sales of RW listings increased, making the balance of the two almost equal.
Neither category saw a great deal of sales activity on the upper end of the price scale, however –- all 22 Closed sales were below $750,000, with the majority between $250,000 and $500,000. There was one Pending RW sale on a property listed above $1 million.
One curious disparity between single family listings and homes on acreage in June concerns the median sales price of Active listings. While the median price of Active SFR listings has increased since this time last year (up from $449,900 in June 2013 to $489,000 in June 2014), the median sales price for Active RW listings has decreased significantly since this time last year (down from $798,900 in June 2013 to $719,950 in June 2014).
Here are some highlights of the Sisters real estate market in June, based on data provided by MLSCO on July 10, 2014:
LISTING ACTIVITY
Active Residential Listings in Sisters: 187 (99 Single Family Residences; 88
Residential with Acreage)
Contingent Residential Sales in Sisters: 2 (1 SFR, 1 RW)
Pending Residential Sales in Sisters: 19 (11 SFR; 8 RW)
Residential Sales in Sisters: 22 (12 SFR; 10 RW)
Average Days on Market: 193 days for Active SFR listings
147 days for Active RW listings
125 days for the SFR listings sold in June
110 days for the RW listings sold in June
Median Sales Price: $489,000 for Active SFR listings
$719,950 for Active RW listings
$314,614 for the SFR listings sold in June
$389,250 for the RW listings sold in June
INVENTORY
Single Family Residence: 9.1-month supply (129 sales in the previous 12 months)
Residential with Acreage: 12.3-month supply (86 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $149,950
Least-Expensive Residential with Acreage Active Listing: $195,500
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $2,900,000
Price Point with the Most Active Listings:
SFR $350,000-$399,999 (18 listings)
RW: $1,000,000-$1,249,999 (10 listings)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the June 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, Bend and Redmond.