I started writing my weekly market reports to fill in the information gap I noticed in the typical real estate marketing available to the general public. My reports began nearly 7 years ago, covering all price points across Deschutes, Crook, and Jefferson Counties, and I have weekly data preserved in a spreadsheet since April 2022. After years of weekly data gathering and writing, and in working with many buyers and sellers focused on the higher price points, it became clear that a second report dedicated to the luxury Central Oregon market was necessary. In March, the weekly data I have saved for the luxury market tranches will go back a full year, with new data added each week.
My goal of providing no-spin data straight from the MLS to educate my clients hasn't changed. Still, the knowledge I have gained and my ability to see exactly where we are in seasonal cycles and longer-term trends have been invaluable. As I approach the seven-year milestone (June 12) for my main report and the one-year milestone for the Luxury Report, I wanted to share the insight into how these reports help you and make me a better agent on your behalf. I truly appreciate every one of you who tunes in and reaches out with questions, comments, and help when you need it!
This morning in Deschutes County, listings between $1 million and $1,999,999 are up by seven to 211. Twelve sales are pending, with only three reducing the asking price before securing a contract. With spring activity building, the number of price reductions is decreasing, which is a seasonal trend, partially fueled by lower mortgage interest rates. Eleven transactions closed this week, up from 10 last week. The sold-to-original-list-price ratio was 93.52%.
Deschutes County listings between $2 million and $2,999,999 are up by two, now at 55. Two sales are pending, one at $2,695,000 in Tetherow and the other at $2,895,000 in Rimrock West above the Big Deschutes River. The pending sales reduced their asking prices before securing a contract by 3.34% and 3.58%, respectively. Two transactions closed this week at $2,325,000 in Broken Top and $2,750,000 in Caldera Springs. The sold-to-original-list-price ratio was 95.69%.
Deschutes County listings over $3 million increased by one to 28, with no pending or closed transactions.
In the Crook County luxury market over $1 million, listings decreased by two, now at 34. Two sales are pending; one at $1,099,999 in Brasada Ranch, and the other at $1,245,000 in Powell Butte. The Powell Butte listing reduced the list price 3.86% before securing a contract. There were no closed transactions this week.
Deschutes County farm listings over $1 million are steady at 11, with no pending or closed transactions. Crook County farm listings over $1 million are steady at 12 with no pending or closed transactions.
As spring approaches, early indications point to an incrementally busier year than 2025, which was better than 2024. You may recall that 2022 was the peak for Central Oregon real estate, with mortgage interest rates spiking in the second half of that year as the Federal Reserve fought "transitory" inflation. Interest-rate shock slowed activity, and in 2023, across all price points in Deschutes County, there were 3,161 single-family home sales, compared to 4,128 in 2022.
In Deschutes County, sales over $1 million were 858 in 2022, 636 in 2023, 751 in 2024, and 853 in 2025. In 2026, I expect total single-family sales to exceed 4,000 for the first time since 2022, and sales over $1 million to also exceed 2022 levels. While our market has been flat since 2022, the stability amid economic conditions is remarkable. Central Oregon housing, in particular the luxury market, is stable and healthy.
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