Commercial real estate boom in Sisters - Nugget News

2022-11-10 17:45:15 By : Mr. yibin Luo

The numbers are in for the first 30 days of October, and sales of single-family homes in zip code 97759 show a marked decline in activity. Last year in the time period there were 31 sales transacted with a total value of $24.94 million. This October the number of sales, 20, dropped a third to $19.33 million.

On the other hand, both the average and median price gained substantially. In 2021 the average price fetched was $804,522 with a median price of $685,000. This year’s average price is $966,402 and the median jumped to $855,000.

The median price is the more accurate gauge of market conditions as the average price could be influenced by one of more outsized sales.

The number of homes garnering more than $1 million was seven in 2021 and five in 2022, the largest $2.88 million for a five-bedroon, six-bath on Curly Dock in Black Butte Ranch. The lowest price recorded for October was a newly finished home near the high school that sold for $520,000, a 1,408 square foot unit at $369/SF.

The average price this October is $416 per square foot, showing no let up in what buyers are paying. Notable for this October are the number of homes in what realtors call the sweet spot: $500,000 to $700,000. Nine of the 20 sales posted in this range.