A sensor-operated pull-out faucet can include a spout having a hose disposed therein, a pull-out spray head fluidly coupled to the hose and configured to dock at an end of the spout, and a sensor assembly disposed at least partially in the spout proximate the end of the spout. The sensor assembly can include a sensor and a shutter disposed adjacent the sensor. The shutter can be operable to obscure the sensor in a closed state and expose the sensor in an open state. The faucet can also include a control unit communicatively coupled to the sensor and configured to control fluid flow through the hose and the pull-out spray head based on control signals generated by the sensor.