The Tumalo real estate market saw several improvements in November. Although typically the sales activity above $300,000 is negligible each month, in November, three of the four Closed sales were above $500,000, and two of the four Pending sales were above $800,000.
Also, the number of Active listings continued to decrease (from 76 in October to 67 in November), as did the overall inventory (from a 14.5-month supply in October to a 12.8-month supply in November) and the number of million-dollar listings (from 21 in October to 19 in November).
Like last month, the overall picture in Tumalo for November 2010 compared to this time last year shows several areas of improvement. Overall sales activity for the year is up — from November 2009’s 44 sales during the previous 12 months to 63 sales since November 2009. As a result, the inventory has almost been cut in half (from a 21-month supply in November 2009 to a 12.8 month supply this November).
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 November highlights of the Tumalo real estate market:
Active Residential With Acreage Listings in Tumalo: 67
Contingent Residential With Acreage Sales in Tumalo: 2
Pending Residential With Acreage Sales in Tumalo: 4
Residential With Acreage Closed Sales in Tumalo: 4
Average Days on Market: 241 days for Active RW listings
130 days for RW listings sold in November
Median Sales Price: $665,000 for Active RW listings
$552,500 for RW listings sold in November
Residential with Acreage: 12.8-month supply (63 sales in the previous 12 months)
Least-Expensive Residential with Acreage Active Listing: $199,900
Most-Expensive Residential with Acreage Active Listing: $2,950,000
Price Point with the Most Active Listings: $500,000-$549,999 (7 listings)
Listings at $1,000,000 or more: 19
For a more in-depth analysis of the November Tumalo real estate market, please see the charts below.
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 s a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend.