Inventory growth across all price points slowed this week, and that trend is also evident in the luxury market. As expected, the $1M to $2M range experienced the most inventory growth, with only a handful of listings added over $2M in Deschutes County. Crook County's inventory of over $1M increased by three from last week. As I have mentioned in past reports, the time around the Fourth of July can be relatively slow, with activity ramping up through the end of September. Not only is the slowing of inventory seasonal, but it also marks the beginning of the busiest time of year, as buyers start to focus on what is currently on the market and what suits their needs. Of course, the seasonal slowdown in new listings isn't simply shutting off the faucet; new listings will continue to trickle in through the remainder of the year, and attractive properties listed in July and August can still potentially sell by year-end.
Inventory of Deschutes County single-family homes between $1M and $2M increased 17 this week to 434. Two hundred-fourteen of the active listings reduced the asking price by an average of 6.19%. Eighteen pending sales occurred this week, with eleven of those transactions reducing the list price by an average of 6.08% before going under contract. Nine transactions closed at a median of twelve days listed. The gap in year-to-date (YTD) sales over 2024 is narrowing but still ahead of last year's pace, with 284 sales so far this year compared to 258 by this date in 2024.
There are 101 homes listed between $2 million and $3 million in Deschutes County, up four from last week. Thirty-seven of those listings have reduced the original asking price by an average of 5.96%. Two pending sales occurred this week, with one listed for only five days and the other for eleven days before securing a contract. One property closed at $2,875,000 after just three days on the market. Buyers are extremely knowledgeable about the available inventory. At this time of year, when great listings hit the market, it is not uncommon to see single-digit listing days before securing a contract. Year-to-date 2025, in this price tranche, there have been 42 sales, compared to 39 on the same date last year.
The inventory over $3 million in Deschutes County remains flat this week at 50. Two pending sales occurred, with one listed for seventeen days and another for 341 days. One pending property, listed for just under $4M, is located in North Rim on Awbrey Butte, and the other, for $4.5M, is on Collins Road in Tumalo. There was one closed transaction this week at $3,795,000 listed for only five days. As of year-to-date 2025, there have been 19 sales, compared to 11 on this date last year.
There are 74 listings over $1M in Crook County this week, up three from last week. One pending sale at $1,400,000 in the desirable Grandview Community near the entrance to Juniper Canyon occurred for 4.48% over the original list price. One property in Brasada Ranch closed at $1,550,000, listed for just nine days. Year-to-date sales in Crook County, exceeding $1 million, have declined this year, down to 16 compared to 19 last year. With most of the higher-end sales in Crook County occurring at Brasada Ranch and near Powell Butte, there is limited inventory available, and the decline in sales is not surprising.
This week, I began tracking Farm properties over $1 million in Deschutes and Crook Counties. There are twelve of these listings in each county with no pending or closed sales. In Deschutes County, the selection ranges from 17 acres to 7,284 acres. In Crook County, the range of active listings is 40 to 4,457 acres. There are some excellent properties in this category, but many are listed as both single-family homes and farm properties, which makes the data murky. Some of these properties are straightforward in terms of management and maintenance, while others require significant outside assistance. If you are looking for an acreage property, be sure not to miss the farm inventory, which can sometimes be less prominent in MLS searches.
