Mortgage interest volatility has calmed down over the last couple of weeks, while sales are beginning to pick up. Peak inventory is still a couple of months away, with the bulk of the 2026 activity still well ahead of today. While activity closely follows last year, there are some differences I will detail below that could be early signs of trends developing. Nationwide, the big firms are reporting on increased supply, decreased seller activity, and stable prices. Some of this applies to Central Oregon, but real estate is local, and our market is diverging from the national market in specific ways.
Today in Deschutes County, listings between $1 million and $1,999,999 are up by five from last week to 297. This week in 2025, there were 325 active listings. The decrease in inventory for this price tranche is a noticeable difference from the national market. Eighteen pending sales this week are down 4 from last week. Twelve closed transactions are down 1 from last week, with the average sold-to-original-list-price ratio at 95.85%, and only 3 of those listings reduced the asking price by an average of 3.7%. Year-to-date 2025, there were 176 sales compared to 159 this year.
Deschutes County listings between $2 million and $2,999,999 decreased by 1, now at 67, compared to 88 this week in 2025. The decrease in this price tranche is another notable change from the national data, keeping our prices firm. Six pending sales this week are up by 4 from last week. Two transactions closed this week, one more than last week. The first sale was on Pittman Place in Bend's Discovery West neighborhood at $2,425,000, $26k above the list price, and listed only 4 days. The second closing was in Caldera Springs at $2,679,225, down from the original list price of $3,195,000. Year-to-date 2025, there were 29 sales compared to 25 this year.
Homes listed for over $3 million in Deschutes County today total 42, down by 1 from last week. This week in 2025, there were 33 active listings. The $3 million-and-up segment of the Central Oregon luxury market is an anomaly compared with the rest of Deschutes County. One pending sale occurred this week on Shasta Place near Miller's Landing at $4,500,000. One transaction closed this week on Swalley Road for the full list price of $3,000,000. Year-to-date 2025, there were 15 sales compared to 10 this year. The average sale price increased from $3,380,066 to $4,455,000.
Crook County listings over $1 million increased by 2 to 49, down from 58 last year. There were two pending sales this week: the first in Brasada Ranch at $1,375,000, and the second in Powel Butte at $1,650,000. One transaction closed at $1,730,000 in Brasada Ranch, originally listed at $1,825,000. Year-to-date 2025, there were 10 sales compared to 13 this year. The average sale price decreased from $1,670,670 to $1,503,807. Given the smaller inventory in this market segment compared to 2025 levels, the increase in closed sales is noteworthy. As growth in Central Oregon continues, many new residents are finding Crook County, and in particular Brasada Ranch, an appealing option compared to more expensive Deschutes County properties.
Deschutes County farm listings are flat at 14, with no pending or closed transactions for the seventh consecutive week.
Crook County farm listings increased by four to 17, with no pending or closed transactions. However, the increase in inventory is attributable to two new listings, each with two entries. The first, on McDaniel Road, is listed at $12,000,000 for 915 acres, while a second listing at the same address lists it at $6,500,000 and 316 acres. The other new listings, located on Van Lake Road, include a 6,742-acre listing at $8,700,000, a subdivided parcel at $6,700,000, and 3,551 acres.
Hundreds, or even thousands of acres of farm property, are an undertaking not everyone is looking for. However, the locations and privacy are unmatched, with revenue potential and favorable tax advantages.
As always, the Central Oregon luxury market is active, with an incredible diversity of properties across the different price tranches. Throw in the large acreage farm properties, and there really is something for everyone. So far this year, fewer listings are matching somewhat decreased demand, keeping prices firm. Evaluating luxury properties requires matching needs to location and assessing prices, which takes a unique skill. Please reach out if you need a comprehensive market analysis for any property in our region.
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