Sisters, OR

In February, the real estate sales activity slowed a bit in Sisters -- from 19 pending and closed sales in January to 10 pending and closed sales. No surprise there; there's typically a winter lull in Central Oregon. Meanwhile, the median sales price for Active Single Family Residence listings fell back into the $350,000 territory (after rising to $365,000 in January), while the median sales price for Active Residential With Acreage listings continued to decrease (from $711,500 in January to $699,000 in February).

The high inventory in both Single Family Residences and Residential with Acreage listings continues to be a concern for sellers (both categories experienced a one-month supply increase in February). The good news for buyers: There's still plenty to choose from in most price points.

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

LISTING ACTIVITY
Active Residential Listings in Sisters: 157 (87 Single Family Residences; 70
Residential with Acreage)
Contingent Residential Sales in Sisters: 0
Pending Residential Sales in Sisters: 3 (2 SFR; 1 RW)
Residential Sales in Sisters: 7 (4 SFR; 3 RW)
Average Days on Market: 220 days for Active SFR listings
294 days for Active RW listings
442 days for the SFR listings sold in February
166 days for the RW listings sold in February

Median Sales Price: $350,000 for Active SFR listings
$699,000 for Active RW listings
$358,250 for the SFR listings sold in February
$270,000 for the RW listings sold in February

INVENTORY
Single Family Residence: 15-month supply (69 sales in the previous 12 months)
Residential with Acreage: 28-month supply (30 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $114,900
Least-Expensive Residential with Acreage Active Listing: $159,900
Most-Expensive Single Family Residence Active Listing: $1,495,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: SFR: $200,000-$249,999, (14 listings)
RW: $850,000-$899,999 (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 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, 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.

Sisters started the year off well, with an increase in sales activity -- from 14 pending and closed sales in December to 19 pending and closed sales in January. Meanwhile, after trending down for several months, the median sales price for Active Single Family Residence listings rose a bit - from $349,450 in December to $365,000 in January (but still a far cry from the 2009 high of $492,500 last June).

The median sales price for Active Residential With Acreage listings, on the other hand, decreased (from $724,000 in December to $711,500 in January, with the 2009 high of $797,000 in August).

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

LISTING ACTIVITY
Active Residential Listings in Sisters: 143 (79 Single Family Residences; 64
Residential with Acreage)
Contingent Residential Sales in Sisters: 3 (2 SFR; 1 RW)
Pending Residential Sales in Sisters: 12 (9 SFR; 3 RW)
Residential Sales in Sisters: 7 (5 SFR; 2 RW)
Average Days on Market: 231 days for Active SFR listings
297 days for Active RW listings
143 days for the SFR listings sold in December
195 days for the RW listings sold in December

Median Sales Price: $365,000 for Active SFR listings
$711,500 for Active RW listings
$327,800 for the SFR listings sold in December
$411,950 for the RW listings sold in December

INVENTORY
Single Family Residence: 14-month supply (68 sales in the previous 12 months)
Residential with Acreage: 27-month supply (28 sales in the previous 12 months)

SALES PRICE:
Least-Expensive Single Family Residence Active Listing: $119,990
Least-Expensive Residential with Acreage Active Listing: $167,000
Most-Expensive Single Family Residence Active Listing: $1,495,000
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings:
SFR: $200,000-$249,999 & $300,000-$349,999, (each w/10 listings)
RW: $450,000-$499,999& $850,000-$899,999 (each w/6 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, 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.

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.