The Sisters real estate market held steady in August, with little change in list price, sales or number of listings. After reaching a two-year high number of sales this June (16 sales), the market seems poised to at least match that number in September (with 14 pending transactions).
After increasing significantly this spring (from $384,900 in March to $469,000 in April), the median sales price of Active Single Family Residences decreased again slightly this month (from $475,000 in July to $469,500 in August), which is still higher than last August (when it was $439,000). Given the reality of the current market, many sellers will need to make additional price adjustments to see any real results.
The median sales price for Active Residential with Acreage listings also decreased this month, from $684,900 in July to $675,000 in August. That number is significantly lower than August 2009, when the median sales price for Active Residential with Acreage listings was $797,000.
Here are a few August highlights of the Sisters real estate market:
Active Residential Listings in Sisters: 215 (122 Single Family Residences; 93 Residential with Acreage)
Contingent Residential Sales in Sisters: 4 (3 SFR, 1 RW)
Pending Residential Sales in Sisters: 14 (12 SFR; 2 RW)
Residential Sales in Sisters: 11 (5 SFR; 6 RW)
Average Days on Market: 216 days for Active SFR listings
271 days for Active RW listings
128 days for the SFR listings sold in August
143 days for the RW listings sold in August
Median Sales Price: $469,500 for Active SFR listings
$675,000 for Active RW listings
$250,000 for the SFR listings sold in August
$323,250 for the RW listings sold in August
Single Family Residence: 15.6-month supply (94 sales in the previous 12 months)
Residential with Acreage: 25.4-month supply (44 sales in the previous 12 months)
Least-Expensive Single Family Residence Active Listing: $79,000
Least-Expensive Residential with Acreage Active Listing: $175,000
Most-Expensive Single Family Residence Active Listing: $1,495,000
Most-Expensive Residential with Acreage Active Listing: $4,500,000
Price Point with the Most Active Listings: SFR: $450,000-$499,999, (17 listings)
RW: $350,000-$399,999 (12 listings)
If you’re interested in studying the market in more depth, below are a number of charts that capture various aspects of the August 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 here.
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.