While mortgage rates may be stuck as we head into the busy fall season, activity remains steady, and the market is stable. On Wednesday, I reported year-over-year sales increases for the broader market, and today I will break down year-over-year sales by luxury price tranches. You will see in the data below that our market remains stable, a pattern that has been consistent throughout the higher-mortgage-interest-rate climate that began in the third quarter of 2022. Population growth in Central Oregon continues, along with buyer demand, despite higher financing costs.
Today in Deschutes County, listings between $1 million and $1,999,999 are up by 9 from last week to 360. Thirteen sales are pending, up by 2 from last week, with 5 of those listings reducing the asking price by an average of 11.59% before securing a buyer. Ten transactions closed this week, down from 21 the previous week. Four of the closed transactions this week reduced the asking price by an average of 10.67% before securing a contract, with the sold-to-original-list-price ratio at 94.52%.
Year-to-date in 2025, there were 359 sales, averaging $1,374,176, compared to 364 so far in 2026, averaging $1,356,024. For these narrow price bands, the average sale is less relevant and isn’t necessarily indicative of a softening market.
Deschutes County listings between $2 million and $2,999,999 increased by 3 from last week to 91. Three sales are pending, up by 2 from last week, with 2 of those listings reducing the asking price by an average of 3.9% before securing a buyer. One transaction closed this week in Tetherow for $2,660,000 after only four days on the market, at 104.31% of the list price.
Sales between $2 million and $2,999,999 year-to-date 2025 were 51, averaging $2,382,885, compared to 59, averaging $2,450,919 so far in 2026.
Homes for sale in Deschutes County over $3 million increased by 2 from last week to 40. Four sales are pending this week, double last week’s volume, with three in Tetherow and one in Caldera Springs. No transactions closed this week.
2025 year-to-date activity over $3 million shows 20 transactions averaging $3,501,900 compared to 14 averaging $4,318,218 so far in 2026. There is no question that desirable high-end properties are commanding high prices this year. I anticipate the sales volume gap narrowing as the remainder of the 2026 selling season plays out.
Crook County inventory over $1 million is stable this week at 70. No sales are pending, and there were no closed transactions this week.
Year-to-date 2025, there were 20 sales in Crook County, averaging $1,592,385, compared to 28 sales averaging $1,546,044 so far in 2026.
The Deschutes County farm listings over 41 million are stable at 14, with no pending or closed transactions for the third consecutive week. Year-to-date 2025, there were 2 sales at $1.45 million and $3.2 million, compared to 2 sales so far in 2026 at $1.375 million and $4.25 million.
Crook County farm listings over $1 million are also steady at 20, with no pending or closed transactions for the eighth consecutive week. Year-to-date 2025 shows no closed transactions for this segment, compared to 2 sales this year at $1.1 million and $2.165 million so far in 2026.
There is a baseline level of activity in Central Oregon at today’s mortgage interest rates, consistent for the past four years. While our overall transaction volume might be down from the highs experienced between 2020 and 2022, the market remains steady. Market conditions have made pricing clear, and buyers are not paying up for homes. Still, desirable homes are selling in single-digit days on the market, for full price or more. With the busy late summer, early fall season at hand, now is the time to act quickly for buyers who find the right property. And sellers who have been on the market for some time would do well to adjust their pricing to position themselves for a sale this year.
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