The mortgage markets calmed down this week and settled back to where rates have been for the last couple of years. Inventory growth continues at a moderate pace, with the notable metric for the week being the remarkably short days on the market for pending and sold listings. Year-to-date in Crook County, over $1M in eight homes have sold compared to four in 2024. All twelve year-to-date closings in Crook County in 2024 and 2025 have been in Brasada Ranch. In Deschutes County, over $1M year-to-date, there have been 198 closings compared to 171 in 2024. The high-end market is moving right along!
The inventory of homes between $1M and $1,999,999 in Deschutes County increased by thirteen to 308. Fourteen pending sales, at a median days listed of only 17, continue the rapid pace in this competitive market segment. Eight closed transactions, at a median days listed of 35, with four price drops at a median of -5.21%, are consistent with the overall market.
There are 89 listings between $2M and $2,999,999, up four from last week. One pending sale, with 32 days listed and a list price of $2,225,000, and three closed transactions, with an average of $2,566,666 and a median days listed of only 13, round out this price tranche.
Thirty-three homes are listed for over $3M, up two from last week. No pending sales were recorded, with two closings at $3,095,000 in Bend and $4,950,000 in Sisters.
There are 57 listings in Crook County, over $1M, up five from last week. One pending sale is out on Paulina Highway at a list price of $1,445,000, a property with 40 acres and its own airstrip. One transaction closed in Brasada Ranch for $2,447,700 after only 17 days on the market. Looking at Crook County sales of over $1M, Brasada Ranch dominates the market activity.
With sales over $1M throughout Central Oregon outpacing sales since the flurry of activity around the pandemic and days listed barely in the double-digit range, there is little question that high-end sales in Central Oregon are strong. For sellers, now would be a good time to list for maximum exposure through the peak of the selling season. While many homes sell quickly, not every property will move in two weeks. Typically, the Fourth of July is slow, with a lull in activity before the last phase of the selling season kicks in before the winter holidays. For buyers, getting educated about the market today will position you well to evaluate the new listings coming to market over the next several weeks. Rest assured that attractive high-end properties are selling fast this year, with no end to the robust activity.
