With Martin Luther King Jr. Day celebrated on Monday, sales volume is down this week, while inventory is stable or rising. In my Wednesday report, where I recap the week across all price points, inventory levels also showed slight increases, suggesting an early bottom for actively listed homes in Central Oregon. An early increase in homes listed for sale creates more opportunity for buyers, and more competition for sellers, making price a larger factor in securing a contract. The unknown variable will be buyer demand, which is likely to increase with lower mortgage interest rates. I will be tracking this data closely and comparing 2026 levels with 2025 activity to gauge exactly how the year is unfolding.
Homes listed for sale in Deschutes County between $1 million and $1,999,999 increased by two this week to 192. Eight sales are pending, down 6 from last week. Six of the eight pending sales reduced their asking prices before securing a contract, by an average of 4.78%. Seven transactions closed this week, up two from last week. Three of those listings reduced their asking prices by an average of 8.78% before securing a contract, with the average sold-to-list price ratio for the week at 93.66%.
Inventory of listings between $2 million and $2,999,999 increased by three this week to 53, with 25 of those listings reducing the asking price by an average of 7%. No sales were pending this week, with one closed transaction in Caldera Springs at $2,900,000. The Caldera Springs sale was new construction in the latest phase of the development, with the asking price reduced 1.67% before securing a buyer, and a sold-to-original-list-price ratio of 95.09%.
Deschutes County listings over $3 million decreased by one to 29. Fifteen of those listings have reduced their asking price by an average of 10.55%. There were no pending or closed transactions this week.
Crook County listings over $1 million decreased by one to 36, with 20 of those properties reducing their asking price by an average of 4.26%. One sale is pending at Brasada Ranch, listed at $1,649,000, with a price reduction of 5.72% before securing a contract. No transactions closed this week.
Deschutes County farm listings over $1 million are stable at 12 with no pending or closed transactions. Crook County farm listings decreased by one to 10, with no pending or closed transactions. There have been no pending or closed transactions in the Crook County or Deschutes County farm listings over $1 million in 2026.
This winter may be exceptionally mild, but an inversion last week brought freezing fog to much of Central Oregon, with cold temperatures. Between the weather and an extended holiday weekend, the reduced activity is understandable. However, this time of year is the seasonal doldrums of the luxury market. Activity will pick up as the weather improves and listings begin to build towards the summer peak. Winter is a great time to familiarize yourself with the inventory when levels are lower, making it easier to track the market as new listings start to accumulate. Please don't hesitate to reach out if you need anything! <
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