In October, the Sisters residential real estate market began its seasonal slowdown. Sales decreased notably (down from 26 Closed sales in September to 17 Closed sales on October), as did the number of Active listings (down from 193 in September to 171 in October). Meanwhile, the days on market (DOM) for Active listings increased a bit: Among Single Single Family Residential (SFR) listings, it rose from 163 in September to 189 in October, and among Active Residential With Acreage (RW) listing, it increased from 191 in September to 207 in October.
The Closed sales were divided fairly evenly among the two categories: 10 SFR sales and seven RW sales. When it came to price, however, the two segments differed quite a bit. All 10 Closed SFR sales were below $500,000, while almost half of the Closed RW sales (four of the seven) were above $500,000 — although not by a lot; the highest priced sale in October was for $672,000.
Another difference between October’s SFR and RW properties involved the sales price for Active listings. Although the median price for Active SFR listings decreased quite a bit (down from $424,000 in September to $399,950 in October), the median price for Active RW listings increased significantly (up from $705,000 in September to $744,450 in October).
Once again, the overwhelmingly favorite price point for Active SFR listings was the $350,000-$399,999 bracket (16 listings), with a second-place tie going to the three brackets between $200,000 and $350,000, each of which had eight Active listings. Million-dollar listings were once again the the most popular price point for Active RW listings, with 26 of the 86 Active listings (just over 30 percent!).
Here are some highlights of the Sisters real estate market in October, based on data provided by MLSCO on Nov. 10, 2014:
Active Residential Listings in Sisters: 171 (85 Single Family Residences; 86
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 11 (9 SFR; 2 RW)
Residential Sales in Sisters: 17 (10 SFR; 7 RW)
Average Days on Market: 207 days for Active SFR listings
189 days for Active RW listings
292 days for the SFR listings sold in October
176 days for the RW listings sold in October
Median Sales Price:
$399,950 for Active SFR listings
$744,450 for Active RW listings
$302,500 for the SFR listings sold in October
$530,000 for the RW listings sold in October
Single Family Residence: 9.3-month supply (110 sales in the previous 12 months)
Residential with Acreage: 11.7-month supply (88 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $160,000
Least-Expensive Residential with Acreage Active Listing: $125,000
Most-Expensive Single Family Residence Active Listing: $1,389,000
Most-Expensive Residential with Acreage Active Listing: $2,900,000
Price Point with the Most Active Listings:
SFR $350,000-$399,999 (16 listings)
RW: $1,000,000-$1,249,999 & $1,250,000-$1,499,999 (nine listings each)
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the October 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.