Welcome to 2026! The next several weeks are typically the slowest of the year, but stable-to-slightly-decreasing mortgage rates are an encouraging start to the new year. Supply will continue to decrease before we turn the corner towards adding new listings this spring. However, there are still enough homes listed to provide many options for buyers, and I expect modest sales to continue, especially in the active $1 million to $3 million range.
Deschutes County listings between $1 million and $1,999,999 decreased by 16 this week, now at 190. Three sales are pending this week, with one changing the price by 4.07%. It is not unheard of for prices to go up, though it is rare. Two of the pending sales are in the growing community of Caldera Springs in Sunriver. Eight transactions closed this week, with three lowering prices by an average of 9.71%. The sold-to-original-list-price ratio was 92.04%.
Listings in Deschutes County between $2 million and $2,999,999 decreased by five to 54. There were no pending sales this week. Two transactions closed, with one showing zero days on the market and the other only 15. Rapid sales are not as common as a few years ago, but in the coveted higher price points, desirable properties still move fast. There were no price changes from the asking price for the closed transactions.
Deschutes County listings over $3 million decreased by four to 29 this week. The high for the year was on July 18 at 53, with the low for 2025 on March 28 at 29. The exclusive inventory over $3 million slows more than any other segment of our market during the winter, with most activity occurring from late spring through late fall. There were no pending or closed transactions this week.
Listings over $1 million in Crook County decreased by seven to 37 this week. There was a single pending transaction at $2,395,000 on Johnson Creek Road NE of Prineville. One transaction closed this week on Wildhorse Court in Brasada Ranch. The sold-to-original-list-price ratio for the closed transaction was 89.52%.
Deschutes County farm listings over $1 million decreased by one to 10, averaging $3,023,300. There were no pending or closed transactions.
Crook County farm listings over $1 million remain at 11, and average $5,310,455. There were no pending or closed transactions this week.
Whether you are a buyer or seller in the Central Oregon luxury market in 2026, getting familiar with the inventory today and tracking it as supply builds is essential to being prepared to make the most of your situation. With the national average for a 30-year jumbo loan flat for the last few weeks at 6.37%, market conditions are stable. While Gross Domestic Product data in 2025 was volatile, the second quarter showed GDP at 3%, while the third quarter showed GDP at 4.3%. Whether the fourth quarter of 2025 shows continued growth at the next release on January 22, 2026, remains to be seen, but by all accounts, the economy is healthy. All early indications point to a healthy housing market in 2026.<
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