Wednesday, March 23, 2016 The Nugget Newspaper, Sisters, Oregon
R e a l
E s t a t e
S p e c i a l
15
R e p o r t
Home sales prices in Sisters jumped over past year
Jim Cornelius
News Editor
The average sale price on
a home in Sisters Country
jumped approximately 18
percent over the past 12
months.
“Looking at the sales for
the last 12 months, average
sale price was $413,000,”
said Gary Yoder, of Howells
Realty Group. “The previous
12 months was $349,000.”
Part of the jump in aver-
age price is due to supply and
demand. Sisters is short on
inventory.
Yoder said there are 124
homes listed currently in
Sisters Country, down from
251 in July.
“Twenty-five percent of
those are $950,000 and up,”
he said.
Those homes are not
quick to sell.
“Only three percent of the
sales in the past 12 months
were $950,000 and up,”
Yoder said.
Jodi Satko, of Keller
Williams Realty Oregon
Lifestyle Property Group,
told The Nugget that Sisters
is currently the slowest-
moving market among the
tri-cities of Central Oregon.
Bend is very strong, she said,
and more clients are asking
about Redmond than have
in the past. She believes that
Redmond has risen in buyers’
estimation due to the percep-
tion that they can get good
value there.
“There’s not a lot of inven-
tory (in Sisters Country),”
Satko said. “There’s also not
a lot of buyers asking about
Sisters right now. I think
that’s based a little bit on
affordability, too.”
The things that have made
Sisters attractive to buyers
still remain: natural beauty,
a tight-knit, engaged com-
munity; strong schools. But
factors of inventory and price
appear to be having an effect.
New home construction
is brisk inside the town lim-
its of the city of Sisters. The
City reports that in 2015
there were 45 permits issued
for single-family home con-
struction; so far in 2016 the
City has issued 18.
Home sales overall have
increased. Central Oregon
Association of Realtors sta-
tistics for the fourth quarter
of 2015 show 135 home sales
on less than an acre compared
to 122 in 2014. Sales on an
acre or more are up a dozen,
from 60 to 72. Average
days on market (DOM) also
increased with sales on less
than an acre averaging 179
DOM compared to 149 in
2014 and on an acre or more
193 compared to 186 in
2014.
Townhomes and condo
sales are basically flat: 23
sold in 2015; 24 in 2014.
However, in 2015 the aver-
age DOM was 138 compared
to 158 in 2014.
Yoder noted that sales at
Black Butte Ranch, which
is his focus, have been flat.
Most sellers are people who
are no longer using their sec-
ond home/vacation home and
are selling mostly to people
from the Willamette Valley
who are in the market for a
second home/vacation home
photo by JiM Cornelius
housing construction has been busy in sisters Country over the past 12 months.
themselves.
With supply short and
prices increasing, Sisters is
competing with other areas
in Central Oregon for buyers
into a real estate market that
is generally in much better
condition than it was just a
couple of years ago.
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