September 2009 Real Estate Market Snapshot for Tumalo, Oregon

For the third month in a row, Tumalo's real estate market was most notable for its decreases (which is actually good news). Once again, the number of Active Residential with Acreage listings shrank (from 93 to 86), which continued Tumalo's downward trend in inventory (from a high of 99 RW listings in January). Similarly, the supply again decreased, to a 26-month supply in September (compared to a 40-month supply in February).

That decrease in supply can be attributed in part to the ongoing increase in sales. And this month, eight of the 13 Pending and Closed sales were above $500,000 -- more good news for sellers. Although the median price for Active RW listings in Tumalo also increased (from $689,000 in August to $722,000 in September), the number of Active million-dollar listings remained below 30 again (for only the second time this year).

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 September highlights of the Tumalo market:

LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo: 86
Contingent Residential With Acreage Sales in Tumalo: 3
Pending Residential With Acreage Sales in Tumalo: 6
Residential With Acreage Closed Sales in Tumalo: 7
Average Days on Market: 240 days for Active RW listings
142 days for RW listings sold in September

Median Sales Price: $722,000 for Active RW listings
$350,000 for RW listings sold in September

INVENTORY:
Residential with Acreage: 26-month supply (40 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Residential with Acreage Active Listing: $119,500
Most-Expensive Residential with Acreage Active Listing: $3,750,000
Price Point with the Most Active Listings: $1,500,000-$1,749,999 (9 listings)
Listings at $1,000,000 or more: 29

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

If you'd like to learn more about the Tumalo 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.