If you have been reading my Wednesday and Friday reports, you may have gathered that the high-end market is outperforming the market below $1 million, and if so, you are correct. At the end of this report, I will show the YTD changes in Crook and Deschutes Counties. But first, the weekly numbers.
The Deschutes County inventory, between $1 million and $2 million, increased by four to 436 single-family listings. Seventeen pending sales remain unchanged from last week, with a median listing day of 41 and an average price reduction before securing a contract of -3.8%. Sales also mirrored those of last week, with six at a median of only 11 days on the market. Two of the sales negotiated a lower-than-list price, averaging -10.29%.
Inventory between $2 million and $3 million also increased by four, now at 109 listings. One pending sale occurred at $2,995,000 on the River in Bend, with no price reduction before securing a contract. There were two sales at $2,050,000 and $2,250,000, with one price reduction from the list of -2.06%.
Inventory over $3 million remains at 49, with one pending sale at $3,195,000 in the North Course Estates of Sunriver. There were no sales over $3 million this week.
There is one more listing for farm properties in Deschutes County, bringing the total to 14, with no pending or closed transactions.
In Crook County, the inventory of homes over $1 million decreased by two, now at seventy-three. There were no pending sales and one closed transaction at $1,100,000. The closed transaction is on the far western edge of Crook County and has a Bend address. A Bend address in Crook County is a rarity and an interesting quirk of the county boundaries.
Crook County farm listings over $1 million remain at 12 with no pending or closed transactions this week.
I have mentioned many times that the Fourth of July can be slow, particularly in the high-end markets. Except for the $1 million to $2 million range, this week's data shows very little activity. However, the year-to-date sales in the high-end market are steady.
In Deschutes County YTD 2024, there were 1,492 sales below $1 million, with a median sale price of $600,000. As of year-to-date 2025, there have been 1,458 sales at a median price of $595,000, representing a 2.28% decrease in sales volume and a 0.83% decrease in price. Sales over $1 million in 2024 totaled 364, at a median sale price of $1,350,000, compared to 383 and $1,425,000 year-to-date 2025. That is a 5.21% increase in sales volume and a 5.55% increase in the median sale price. Neither of these swings is extreme, but they are the beginning of a trend I expect to continue through the remainder of the year.
Crook County mimics the price differential trend of Deschutes County, with some variation. Year-to-date, in 2024, there were 208 sales under $1 million, with a median sales price of $431,000. In contrast, 182 sales have occurred so far in 2025, with a median sales price of $417,900. That represents a 12.5% decrease in sales volume and a 3.04% decrease in sales price. Competition in the lower price points, combined with higher mortgage interest rates, has undoubtedly contributed to the decline in the median sale price. There were 20 sales over $1 million in 2024, with a median sale price of $1,453,250, compared to 17 sales at a median price of $1,500,000. The 2025 date reveals a 15% drop in sales volume and a 3.22% rise in the median sale price.
Below $1 million in both Crook and Deschutes Counties has become an extremely competitive landscape, with a large percentage of buyers plagued by affordability issues with stubbornly high mortgage rates. In the luxury market, where cash deals are more common, especially at higher price points, prices are rising in tandem with demand. The volume of listings over $5 million has increased significantly, providing luxury buyers with more selection than usual. However, there is not enough inventory in the mix of extraordinarily diverse and unique luxury properties to tamp down prices. The availability of numerous excellent properties has increased activity, as buyers are having an easier time finding what they want in Central Oregon.
I often hear sweeping generalizations about the market being up or down, but there is never a simple answer. Evaluating properties in the luxury market requires a more in-depth analysis, which I conduct frequently. Whether you are buying, selling, or just curious about the price your property might command in today's market, please reach out if you need individually focused research. I have a few ready-to-go market analyses of Central Oregon luxury markets that I would be happy to share.
