Wow! August proved to be a banner sales month for the Sisters real estate market. After two months of slight growth in sales, Sisters saw a significant jump. In fact, sales almost doubled -- from 15 pending and closed sales in July to 25 pending and closed sales in August. Included in the mix was a strong showing of higher-end sales (six sales above $500,000, including one just under $1,000,000).

Also noteworthy, however, is the dramatic increase in inventory since the beginning of 2009. In January, there were 136 active Residential listings (which include Single Family Residences and Homes on Acreage), compared to 217 active Residential listings in August. When looking at the previous 12 months' of sales, those numbers translate into an 11-month supply of homes in January compared to a 30-month supply of homes in August. That means that buyers will remain in the driver's seat for the foreseeable future.

Here are a few August highlights of the Sisters real estate market:

LISTING ACTIVITY
Active Residential Listings in Sisters: 217 (133 Single Family Residences; 84 Residential with Acreage)
Contingent Residential Sales in Sisters: 2 (2 SFR, 0 RW)
Pending Residential Sales in Sisters: 12 (8 SFR; 4 RW)
Residential Sales in Sisters: 13 (8 SFR; 5 RW)
Average Days on Market: 193 days for Active SFR listings
268 days for Active RW listings
157 days for the SFR listings sold in August
57 days for the RW listings sold in August

Median Sales Price: $439,000 for Active SFR listings
$797,000 for Active RW listings
$315,000 for the SFR listings sold in August
$328,000 for the RW listings sold in August

INVENTORY
Single Family Residence: 30-month supply (53 sales in the previous 12 months)
Residential with Acreage: 42-month supply (25 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $149,990
Least-Expensive Residential with Acreage Active Listing: $199,900
Most-Expensive Single Family Residence Active Listing: $1,475,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $550,000-$599,999, in SFR (15 listings)
$200,000-$250,000 in SFR (14 listings)

$950,000-$999,999 in RW (8 listings)
$1,000,000-$1,249,999 in RW (8 listings)

If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the Sisters real estate market in detail.

If you'd like to learn more about the Sisters real estate market, don't hesitate to email me at lisabroadwater@remax.net or call me toll-free at 866-963-2760.

About the Author:
Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend. If you'd like to learn more about Central Oregon, please visit www.CentralOregonHome4You.com.

Earlier this year, I attended a free two-hour mortgage-counseling workshop in Redmond that was designed to provide struggling homeowners with information on the ins and outs of the foreclosure process. Hosted by NeighborImpact (the Redmond-based nonprofit group that provides a number of home-related community services to residents of Deschutes, Crook and Jefferson counties), the program offered a wealth of information that is becoming relevant for more and more people in Central Oregon.

Now NeighborImpact is offering a four-part series of free two-hour "financial-fitness" classes in Sisters, which will address everything from budgeting, banking and borrowing to credit-card management. Offered in partnership with the City of Sisters and the Bank of the Cascades, the educational program is open to all Sisters-area residents who'd like to learn how to make more informed financial decisions.

The four classes, which will be held at the Sisters Chamber of Commerce office (291 E. Main), will run every other Tuesday from 6-8 p.m., beginning Sept. 22. Dinner will be provided from 5:30 to 6 p.m. (courtesy of the City of Sisters and Bank of the Cascades).

Here's the full schedule of topics covered:

Sept. 22: "Banking and Budgeting"
Oct. 6: "Maxed Out: Credit Cards"
Oct. 20: "Credit Management and Credit Reports"
Nov. 3: "Borrowing Basics"

For more information or to register for the classes, call NeighorImpact at 541-548-2380, X158, or email info@ci.sisters.or.us.

About the Author:
Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend. If you'd like to learn more about Central Oregon, please visit www.CentralOregonHome4You.com.

July 2009 was a month of increases for the Sisters real estate market. Inventory continued to increase (from 212 to 219, with seven new Single Family Residence listings and no new Homes on Acreage). That high volume of inventory continues to be a long-term concern for sellers and helps explain this month's increase in days on market for both active Single Family Residences and Homes on Acreage.

On the plus side, sales increased again this month, if only slightly (15 pending and closed sales), including the first million-dollar transaction since February.

Here are a few July highlights of the Sisters real estate market:

LISTING ACTIVITY
Active Residential Listings in Sisters: 219 (129 Single Family Residences; 90 Residential with Acreage)
Contingent Residential Sales in Sisters: 1 (1 SFR, 0 RW)
Pending Residential Sales in Sisters: 11 (7 SFR; 4 RW)
Residential Sales in Sisters: 4 (2 SFR; 2 RW)
Average Days on Market: 206 days for Active SFR listings
250 days for Active RW listings
412 days for the SFR listings sold in July
69 days for the RW listings sold in July

Median Sales Price: $450,000 for Active SFR listings
$785,000 for Active RW listings
$273,885 for the SFR listings sold in July
$404,500 for the RW listings sold in July

INVENTORY
Single Family Residence: 31-month supply (50 sales in the previous 12 months)
Residential with Acreage: 47-month supply (25 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $149,990
Least-Expensive Residential with Acreage Active Listing: $199,900
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $250,000-$299,999, in SFR (15 listings)
$950,000-$999,999 & $1,000,000-$1,249,999 in RW (each with eight listings)

If you're interested in studying the market in more depth, below are a number of charts that capture various aspects of the July 2009 Sisters real estate market in detail.

If you'd like to learn more about the Sisters real estate market, don't hesitate to email me or call me toll-free at 866-963-2760.

About the Author:
Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend. If you'd like to learn more about Central Oregon, please visit www.CentralOregonHome4You.com.

Well, some folks said it would never happen (and some Sisters purists wish it never had), but the town's first discount retailer opened its doors today. And judging by the hefty crowds at the new Bi-Mart, plenty of folks in Central Oregon couldn't wait to see this new addition for themselves.

Even before Ray's Food Place moved into its new location next-door last November, speculation ran rampant about what would happen to the former Ray's mammoth storefront. Soon, Eugene-based Bi-Mart was mentioned as the front-running candidate. Many locals had a hard time believing that was possible.

Certainly, the regional big-box discount retailer -- which boasts everything from a pharmacy, photo/sound department, housewares, sporting goods, automotive parts, hardware, health and beauty products, toys, clothing, furniture and shoes to beer, wine and food -- is a dramatic departure from the norm for our fair town (for one, shoppers are required to "join" via a $5 lifetime membership).

Sisters is most known as a quaint frontier-themed tourist town, dotted with locally stocked art galleries, antiques shops and upscale clothing boutiques. Here, the installation of the town's first fast-food restaurant was a hotly debated controversy for a good long while. Not surprisingly, some residents weren't too keen on the arrival of Bi-Mart.

But those budget-minded folks who live here year-round who've had to drive 30 miles to Bend or 20 miles to Redmond to find competitively priced household goods (many of which weren't available in Sisters at any price) finally have a local alternative, which is a good thing. So is the repurposing of an abandoned 20,000-square-foot storefront that anchors a once-vital shopping center and the creation of some much-needed jobs.

So, welcome Bi-Mart. Let the bargain-hunting begin.

Below are a few photos from today's opening:

About the Author:
Lisa Broadwater is a Central Oregon-based real estate professional who specializes in listing and selling homes, especially in Sisters, Tumalo, Redmond and Bend. If you'd like to learn more about real estate in Sisters or Central Oregon, please visit www.CentralOregonHome4You.com.