Sisters, OR

The national economic crisis combined with the dramatic downturn in our local real estate market has proven to be an extremely challenging combination for a lot of us. Property values are down, the lending industry is in upheaval and the continued economic slowdown has wreaked havoc with our savings accounts.

And because the current economic climate is so unprecedented, few people have experience in dealing with the many daunting mortgage challenges that are becoming more and more commonplace. If you're having financial difficulties that may make it difficult or impossible for you to maintain your mortgage payments (or just want to become more educated about the distressed-property market), consider attending the upcoming seminar that our office, RE/MAX Town & Country Realty, is hosting on Feb. 20.

The free Saturday morning seminar, held at the Sisters Movie House, will cover many issues common to homeowners facing foreclosure. It starts at 9:30 a.m., and is open to everyone. To reserve a seat, call 541-549-3333.

About the Author:
Lisa Broadwater, GRI, CDPE 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.

Unlike much of Central Oregon, traditional sales continue to dominate the Sisters real estate market. Here's the latest breakdown, as of Jan. 26, 2010:

Of the 171 Active Residential listings (including townhomes, condominiums, single family residences, and homes on acreage), 82 percent are traditional sales (141 listings), and 18 percent are distressed properties (30 listings).

Here's a closer look at those statistics in chart form:

About the Author:
Lisa Broadwater, GRI, CDPE 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.

At the end of 2009, Sisters had begun to make some decent headway in reducing its inventory (from 176 Active listings in November to 147 in December and a 2009 high of 219 in July). That helped bring the overall supply down from 18 months to 14 months for Single Family Residences and from 34 months to 30 months for Residential with Acreage listings.

That means that at the current rate, it would take 14 months to sell the existing Single Family Residences on the market, and 30 months to sell the existing RW listings. Not exactly ideal, especially when it comes to homes on acreage (a balanced market should have about six months of inventory), but it's at least a step in the right direction for sellers.

One plus for buyers is that the median sales price for Active Single Family Residence listings in Sisters is down once again - in December it was $349,450, compared to $389,000 in November (and the 2009 high of $492,500 in June). The median sales price for Active Residential With Acreage listings, on the other hand, increased in December (from $699,000 in November to $724,000, with the 2009 high of $797,000 in August). Go figure...

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

LISTING ACTIVITY
Active Residential Listings in Sisters: 147 (82 Single Family Residences; 65
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 5 (3 SFR; 2 RW)
Residential Sales in Sisters: 9 (7 SFR; 2 RW)
Average Days on Market: 238 days for Active SFR listings
286 days for Active RW listings
202 days for the SFR listings sold in December
584 days for the RW listings sold in December

Median Sales Price: $349,450 for Active SFR listings
$724,000 for Active RW listings
$365,000 for the SFR listings sold in December
$280,000 for the RW listings sold in December
INVENTORY
Single Family Residence: 14-month supply (70 sales in the previous 12 months)
Residential with Acreage: 30-month supply (27 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $142,990
Least-Expensive Residential with Acreage Active Listing: $175,000
Most-Expensive Single Family Residence Active Listing: $1,325,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: SFR: $300,000-$349,999, (12 listings)
RW: $750,000-$799,999 (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.

Original photograph of the Sisters Mountains taken in downtown Sisters on Dec. 13, 2009, by Lisa Broadwater, Broker, GRI; RE/MAX Town & Country Realty, 178 S. Elm, Sisters, OR, 97759. 541-549-3333. All rights reserved and may not be reproduced or reprinted without express written permission. For more images and more information about Sisters, Oregon, visit www.CentralOregonHome4You.com.

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.

In November, perhaps the most notable aspect of the Sisters real estate market was that the median sales price for Active Single Family Residence listings reached its lowest point this year: $389,000. The median sales price of Active SFR listings peaked in June, at $492,500.

Meanwhile, the median sales price for Active Residential With Acreage listings decreased from $736,500 in October to $699,000 in November, after an annual high of $797,000 in August (and some pretty broad fluctuations in between).

Sales this month slowed a bit, down from 19 pending and closed sales in October to 14 pending and closed sales in November. And, once again, inventory was down slightly, from 180 Active listings in October to 176.

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

LISTING ACTIVITY
Active Residential Listings in Sisters: 176 (99 Single Family Residences; 77
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 4 (3 SFR; 1 RW)
Residential Sales in Sisters: 10 (7 SFR; 3 RW)
Average Days on Market: 222 days for Active SFR listings
258 days for Active RW listings
193 days for the SFR listings sold in October
280 days for the RW listing sold in October

Median Sales Price: $389,000 for Active SFR listings
$699,000 for Active RW listings
$365,000 for the SFR listings sold in October
$280,000 for the RW listings sold in October

INVENTORY
Single Family Residence: 18-month supply (65 sales in the previous 12 months)
Residential with Acreage: 34-month supply (27 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $142,990
Least-Expensive Residential with Acreage Active Listing: $189,900
Most-Expensive Single Family Residence Active Listing: $1,325,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings:
SFR: $350,000-$399,999, (12 listings)
RW: $450,000-$499,000, $550,000-$599,999
& $950,000-$999,999 (each w/7 listings)

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