August 2009 Real Estate Market Snapshot for Sisters, Oregon

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.