Mortgage rates have stabilized recently, with the rate for a 30-year Jumbo loan flat at 6.55% today. While rates are higher than many expected, the relative stability helps buyers wrap their heads around today's financing costs. Overall, the luxury market is slowly but steadily building towards summer activity levels. The expected incremental improvement over 2025 relied on mortgage interest rates in the high 5% range, and without help on that front, our year is shaping up to mirror last year closely. If "slow and steady wins the race" is true, 2026 is looking like a winner.
Inventory of single-family homes in Deschutes County between $1 million and $1,999,999 increased by 15 this week to 285, ten fewer than this week in 2025. Twenty-one pending sales are up by 5 from last week, with only six reducing the asking price before securing a buyer. The average reduction was 6.42%. Twelve closed transactions are down by one from last week, with four reducing the asking price by an average of 8.14% before securing a buyer—the sold-to-original-list-price ratio at 94.92%.
Supply of Deschutes County homes between $2 million and $2,999,999 is the same as last week at 68, compared to 85 this week last year. Six sales are pending, up by 4 from last week, one listing reducing the asking price by 5.97% before securing a buyer. Two transactions closed: the first at $2,100,000 on Conrad Drive in Awbrey Glen, and the second at $2,250,000 on Dale Road in NE Bend. The Conrad Drive home reduced the asking price by 2.22% before securing a buyer, and closed at 93.33% of the original list price. The Dale Road home closed at full price.
Deschutes County listings over $3 million increased by six this week to 38, compared to 31 this week in 2025. One sale is pending at $3,500,000 on Swalley Road in Tumalo. There were no closed transactions this week.
Crook County listings over $1 million increased by six this week to 42, ten fewer than this week in 2025. One sale is pending in Powell Butte on Reif Road for $1,195,000 after just 2 days on the market. There were no closed transactions this week.
Deschutes County farm listings over 41 million are stable at 14 with no pending or closed transactions this week. Crook County farm listings over $1 million are up by one to 12, with no pending or closed transactions.
While some properties are moving quickly, YTD comparisons reveal interesting emerging trends. In Crook County in 2025, there were 7 sales year-to-date, averaging 103 days on the market. In 2026, there were 11 sales, averaging 205 days on the market. In Deschutes County, there were 185 sales over $1 million in 2025, averaging 86 days on the market, compared to 166 sales and 90 days on the market year-to-date in 2026. Three months at the beginning of the year isn't enough data to identify trends, but it does highlight how Crook and Deschutes Counties have different dynamics. If you would benefit from a comprehensive market analysis or need help deciding which county in Central Oregon is right for you, please do not hesitate to reach out!
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