March 2009 Real Estate Market Snapshot for Sisters, Oregon

In March, the spring-market listing surge continued in Sisters, with a significant increase in inventory in Single Family Residences (from 78 to 98), with the biggest jump in the $550,000-$599,999 range (from 8 to 14 listings). Luckily, there was only a minor increase in Homes with Acreage (homes on one acre or more), which is already flooded with inventory (there's a three-year supply!).

Once again, sales in both categories remain sluggish, with all pending and completed sales below $420,000.

Here are a few March highlights of the Sisters market:

LISTING ACTIVITY
Active Residential Listings in Sisters: 171 (98 Single Family Residences; 73 Residential with Acreage)
Contingent Residential Sales in Sisters: 1 RW
Pending Residential Sales in Sisters: 3 (2 SFR; 1 RW)
Residential Sales in Sisters: 2 (1 SFR; 1 RW)
Average Days on Market: 176 days for Active SFR listings
248 days for Active RW listings
264 days for SFR listings sold in March
168 days for the RW listing sold in March

Median Sales Price: $426,000 for Active SFR listings
$203,000 for the SFR listing sold in March
$699,000 for Active RW listings
$200,000 for the RW listing sold in March

INVENTORY
Single Family Residence: 18-month supply (65 sales in the previous 12 months)
Residential with Acreage: 36-month supply (24 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $169,990
Least-Expensive Residential with Acreage Active Listing: $207,000
Most-Expensive Single Family Residence Active Listing: $1,950,000
Most-Expensive Residential with Acreage Active Listing: $5,250,000
Price Point with the Most Active Listings: $550,000-$599,999 in SFR (14 listings)
$1,000,000- $1,249,999 in RW (10 listings)

If you're interested in studying the market in more depth, there are a number of charts below 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.