The Sisters residential real estate market’s fall selling season started off strong, with a total of 26 Closed sales in September (compared to 13 Closed sales in August). Of those 26 Closed sales, 16 were Single Family Residential (SFR) properties, while 10 were Residential with Acreage (RW) properties.
Most of the Closed SFR sales were below $500,000 (14 of the 16 sales), while three of the 10 Closed RW sales were above $500,000. That included the sale of a 560-acre rural property with Whychus Creek frontage, which sold for the distinctive amount of $3,335,444.
Pending sales were also strong in September, with a total of 18 listings under contract by the end of the month. Of those, all six Pending SFR sales were for properties listed below $500,000. The Pending RW sales, however, focused almost exclusively on higher-end properties, with five of the six Pending sales for properties listed above $450,000.
There was little change in the amount of inventory this month — just a slight decrease (down from 200 Active listings in August to 193 in September). There were, however, significantly more options for buyers in September than there were this time last year, when there were 155 Active listings.
The most popular price point for Active SFR listings is still the $350,000-$399,999 bracket, with 18 listings. The $450,000-$499,999 was a not-so-close second, with 10 listings. Alas, the most popular price point among Active RW listings in September was the $1,000,000-$1,249,999 range. Interestingly, that was also the case in September 2013, with one key difference: The median price for Active RW listings has decreased significantly since then. In September 2014, the median sales price for Active RW listings was $705,000, compared to $749,500 in September 2013.
Here are some highlights of the Sisters real estate market in September, based on data provided by MLSCO on Oct. 8, 2014:
Active Residential Listings in Sisters: 193 (97 Single Family Residences; 96
Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (0 SFR, 1 RW)
Pending Residential Sales in Sisters: 18 (12 SFR; 6 RW)
Residential Sales in Sisters: 26 (16 SFR; 10 RW)
Average Days on Market: 191 days for Active SFR listings
163 days for Active RW listings
105 days for the SFR listings sold in September
317 days for the RW listings sold in September
Median Sales Price: $429,000 for Active SFR listings
$705,000 for Active RW listings
$271,500 for the SFR listings sold in September
$342,250 for the RW listings sold in September
Single Family Residence: 9.6-month supply (121 sales in the previous 12 months)
Residential with Acreage: 13.7-month supply (84 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $178,900
Least-Expensive Residential with Acreage Active Listing: $125,000
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 September 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.