The Tumalo Residential With Acreage real estate market started the new year off strong: Both Pending and Closed sales were double that of December’s. And although the number of Active listings increased slightly (up from 48 in December to 53 in January), and the overall supply increased slightly, Tumalo now has almost half the inventory that it carried in January 2009 (when there were 99 listings) and a very respectable supply of just 7.6 months (compared to 37 months in January 2009).
As for what price points were active in January, all four listings that sold closed at less than $200,000. Of the eight Pending sales, three are listed for under $250,000; four are between $250,000 and $350,000 and one is listed at $959,900.
As a horse-property specialist, Tumalo has always been of particular interest to me because that’s where you’ll find many of the most desirable horse properties in Central Oregon. Because its boundaries are up to interpretation, please consider the following statistics a general barometer of the area’s real estate activity that includes most, but not necessarily all, of the listings in Tumalo.
Here are a few January highlights of the Tumalo real estate market:
LISTING ACTIVITY
Active Residential With Acreage Listings in Tumalo: 53
Contingent Residential With Acreage Sales in Tumalo:2
Pending Residential With Acreage Sales in Tumalo: 8
Residential With Acreage Closed Sales in Tumalo: 4
Average Days on Market: 212 days for Active RW listings
124 days for RW listings sold in January
Median Sales Price $595,000 for Active RW listings
$175,000 for RW listings sold in January
INVENTORY
Residential with Acreage: 7.6-month supply (84 sales in the previous 12 months)
SALES PRICE
Least-Expensive Residential with Acreage Active Listing: $99,900
Most-Expensive Residential with Acreage Active Listing: $4,900,000
Price Point with the Most Active Listings: $250,000-$299,999 (with 5 listings) & $750,000-$799,999 (with 5 listings)
Listings at $1,000,000 or more: 13
If you’re interested in studying the market in more depth, below are several charts that capture various aspects of the January Tumalo real estate market in detail.
If you’d like to get the latest update on the Tumalo real estate market, don’t hesitate to call me directly at 541-480-0987 to find out more.
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, Bend and Redmond.
