This morning, the national average for a 30-year fixed-rate jumbo mortgage is flat at 6.35%. However, the 30-year fixed-rate conventional average is at 5.99%, the first time rates have dipped below the 6% threshold since February 2023. Our MLS does not categorize jumbo loans, with the majority of financed sales listed as conventional. Loan type aside, of the 70 sales recorded at $1 million or more in Deschutes County since December 1, 2025, 23 were cash transactions, 32.86%. This cash-to-financed transaction ratio is typical, as a majority of buyers in the luxury market consider the opportunity cost of paying cash, especially at a time when equity markets are returning exponentially more than the cost of a mortgage. No matter how a buyer chooses to pay for luxury property in Central Oregon, lower interest rates drive more activity, and 2026 is shaping up to continue the trend of steady activity in our corner of the world.
Single-family homes listed between $1 million and $1,999,999 in Deschutes County decreased by one this week to 189. With next week forecast to be sunny with highs in the low 50s, I expect real estate activity to remain steady. Nine pending sales this week averaged $1,569,106, with the average price reduction before securing a buyer at 7.32%. Two transactions closed at $1,325,000 in Awbrey Glen and $1,398,120 in Caldera Springs. The sold-to-original-list-price ratio was 93.79%.
Supply of Deschutes County homes listed between $2 million and $2,999,999 decreased by three to 51. Three pending sales averaged $2,661,333, with the average price reduction before securing a buyer at 3.39%. One transaction closed in Tumalo for $2,175,000, at 96.67% of the original list price.
The inventory of homes in Deschutes County over $3 million increased by one to 30. There were no pending sales, with one closed transaction in Broken Top at $3,100,000. The sold-to-original-list-price ratio of the Broken Top sale was 91.85%.
Crook County inventory over $1 million is flat from last week at 37 listings. There were no pending sales this week, with one closed transaction for $2,425,000 on Wooden Trestle Lane in Brasada Ranch. The Brasada Ranch sale closed at 89.81% of the original list price. Going back to January 1, 2025, this week's closing at Brasada Ranch is the second-most-expensive sale in the period. There were 30 sales total at Brasada Ranch in this period, with the most expensive at $2,447,700 and five sales over $2 million.
Deschutes County farm listings over $1 million increased by two to 12 this week. There were no pending or closed transactions.
Crook County farm listings over $1 million are flat at 11, and have been since late November. The median list price of $3,439,000 is also unchanged since late November, with no pending or closed transactions.
Market conditions are more favorable right now than in recent years. The combination of increased inventory, lower rates, and unseasonably mild weather is helping to keep buyers engaged and encouraging sellers to keep their properties listed. It is far too early to write off winter entirely, and more storms are sure to blanket the Cascade Mountains before long. Whatever Mother Nature decides, the other factors that have created our stable, steady housing market will continue.<
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