Supply of active listings in the Central Oregon luxury housing market is mostly tracking with last year's volumes, with some interesting variations. As the price tranches narrow, the variations carry less weight in identifying trends, but with more time, it will become clearer what this all means for the 2026 market. Year-to-date sales are also experiencing some unexpected changes so far in 2026, but in small amounts that don't point to anything significant. However, one thing that is becoming clear is that sales volumes and prices are not making any big moves, despite lower mortgage interest rates. Just like our snowpack, without a strong start, the likelihood of a big season decreases with every passing day. While it is still very early in the season, geopolitical strife and rising gas prices, coupled with increased inflation, inevitably impact the housing market. Of course, I will continue tracking the market weekly, so you will see the trends unfold here first.
This morning in Deschutes County, homes listed between $1 million and $1,999,999 increased by ten from last week to 272, compared to 268 on this week last year. Ten pending sales are up by 1 from last week, with 4 of those listings reducing their asking prices by 5.15% before securing a contract. Twelve transactions closed this week, triple last week's total, with just four listings reducing their asking prices by an average of 2.04%. The sold-to-original-list-price ratio was 98.96%.
Year-to-date 2025, there were 121 closed transactions between $1 million and $1,999,999, compared to 108 this year.
Deschutes County listings between $2 million and $2,999,999 this morning are at 67, down from 73 this week last year. Two sales are pending this week: one for $2,395,000 on White Rock Loop near the Maston Trail Network east of Cline Falls Road, and the other for $2,795,000 in Caldera Springs. One transaction closed this week at $2,425,000 in Caldera Springs, originally listed at $2,499,000.
Year-to-date 2025, there were 22 closed transactions between $2 million and $2,999,999, compared to 17 this year.
Single-family homes listed over $3 million in Deschutes County this week increased by four to 35, compared to 29 last year on this week. There were no pending or closed transactions this week.
Year-to-date 2025, there were 5 closed transactions over $3 million, the same as this year. The average sale price this year is $3,163,000, $2,000 less than last year.
Supply of single-family homes in Crook County over $1 million decreased by one to 37, compared to 48 this week last year. There were no pending sales this week. Two transactions closed this week: the first on Laredo Road in Longhorn Ridge at $1,010,000, 101.1% of the original sale price, and the second on Rust Bucket Road in Powell Butte at $1,175,000, 90.73% of the original list price.
Year-to-date in 2025, there were 5 closed transactions over $1 million in Crook County, compared to 10 this year. The average sale price this year is $1,533,500, compared to $1,623,800 last year.
Deschutes County farm listings over $1 million are stable at 14 with no pending or closed transactions. There were no farm listings closed year-to-date in the county in 2025, with 2 closed transactions this year at $1,375,000 and $4,250,000.
Crook County farm listings over $1 million are stable at 10 with no pending or closed transactions. There were no sales closed year-to-date in the county in 2025, with 1 closed transaction this year at $2,165,000.
Nothing in this week's data points to a definitive trend. other than the status quo from 2025. Stability in the Central Oregon housing market is a welcome relief, even if sellers might not be capturing the very peak of prices set in 2022. However, most sellers in the luxury market are very close to peak pricing, particularly those with unique, highly desirable properties. Solid market analysis, marketing, and accurate pricing are producing great results. There aren't any significant obstacles on the horizon, nor are there any major windfalls for sellers. The word of the year thus far is stability.
Sign Up for the Central Oregon Market Report
Sign Up for the Central Oregon Luxury Market Report
