Category Archives: About Tumalo, Oregon

Tumalo’s real estate market began the new year with a bang –- by closing an impressive 10 sales (more than double that of December and more than five times that of January 2010). Meanwhile, the number of Active listings inched down even further (from 52 in December to 50 in January), which helped reduce the overall inventory from a 9.2-month supply in December to an 8.5-month supply in January. To give a sense of just how far we’ve come: In January 2009, there were twice as many Active listings (99).

December’s spike in median list price to $790,000 (caused by last month’s overall decrease in sales and Active listings in the lower price brackets only), did indeed prove to be temporary; in January, the median list price returned to a more reasonable (but still too high) $687,000.

With much of the buying activity focused on the lower end of the scale (with seven of the 10 sales in January under $500,000), many Tumalo sellers will need to be priced below that benchmark to move their properties. Maybe we’ll see more adjustment on their part in February — at least if last year’s trends are any indication. In February 2010, the median price of Active listings fell to $599,000 –- the lowest median list price in 2009 or 2010. (It didn’t stay there, however; by spring, it had risen back to $650,000). Continue reading →