The December real estate market in Tumalo was indicative of the progress that has been made here throughout 2011. With 48 Active RW listings, the inventory reached its lowest point in the past three years.
Here’s just how much progress has been during that time: In January 2009, there were 99 Active listings and a 37-month supply of listings (based on the 12 previous months of sales); in December 2011, there were 48 Active listings and a 6.5-month supply.
Another dramatic difference can be seen by comparing price points. In December 2009, two categories tied for most Active listings: $450,000-$499,999 and $1,500,000-$1,749,999 (each with seven listings). In 2011, the two most popular categories were $250,000-$299,999 (with six listings) and $450,000-$499,999 (with five listings).
This month, the price of Active listings shot up quite a bit -– from $599,000 in November to $654,000 in December. That echoes a trend from last December, when the price for Active listings rose from $665,000 in November to $790,000.
As a horse-property specialist, Tumalo has always been of particular interest to me because that’s where you’ll find many of the most desirable horse properties in Central Oregon. Because its boundaries are up to interpretation, please consider the following statistics a general barometer of the area’s real estate activity that includes most, but not necessarily all, of the listings in Tumalo.
Here are a few December highlights of the Tumalo real estate market:
LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo: 48
Contingent Residential With Acreage Sales in Tumalo:2
Pending Residential With Acreage Sales in Tumalo: 4
Residential With Acreage Closed Sales in Tumalo: 2
Average Days on Market:
227 days for Active RW listings
277 days for RW listings sold in December
Median Sales Price:
$654,000 for Active RW listings
$452,000 for RW listings sold in December
INVENTORY:
Residential with Acreage: 6.5-month supply (89 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $119,900
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $250,000-$299,999 (with 6 listings) & $450,000-$499,999 (with 5 listings)
Listings at $1,000,000 or more: 13
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the December Tumalo real estate market in detail.
Another dramatic difference can be seen by comparing price points. In December 2009, two categories tied for most Active listings: $450,000-$499,999 and $1,500,000-$1,749,999 (each with seven listings). In 2011, the two most popular categories were $250,000-$299,999 (with six listings) and $450,000-$499,999 (with five listings).
This month, the price of Active listings shot up quite a bit -– from $599,000 in November to $654,000 in December. That echoes a trend from last December, when the price for Active listings rose from $665,000 in November to $790,000.
As a horse-property specialist, Tumalo has always been of particular interest to me because that’s where you’ll find many of the most desirable horse properties in Central Oregon. Because its boundaries are up to interpretation, please consider the following statistics a general barometer of the area’s real estate activity that includes most, but not necessarily all, of the listings in Tumalo.
Here are a few December highlights of the Tumalo real estate market:
LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo: 48
Contingent Residential With Acreage Sales in Tumalo:2
Pending Residential With Acreage Sales in Tumalo: 4
Residential With Acreage Closed Sales in Tumalo: 2
Average Days on Market:
227 days for Active RW listings
277 days for RW listings sold in December
Median Sales Price:
$654,000 for Active RW listings
$452,000 for RW listings sold in December
INVENTORY:
Residential with Acreage: 6.5-month supply (89 sales in the previous 12 months)
SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $119,900
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $250,000-$299,999 (with 6 listings) & $450,000-$499,999 (with 5 listings)
Listings at $1,000,000 or more: 13
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the December Tumalo real estate market in detail.
Thinking of making a move to Tumalo? 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.