The answer to the age-old question, "How is the real estate market?" above $1M in Central Oregon is "Strong!"While the days listed may be up, prices are firm and increasing in many cases. Keep in mind that the median sale price has very little meaning in price tranches, as all sales are within a narrow range. In the $3M and up range, there are relatively few sales per year and a wide variation in price, so those numbers also have less meaning. In a future report, I will highlight sales of over $4M in Deschutes County to add some perspective to the most exclusive sales in Central Oregon.
30-year Fixed-Rate Jumbo - January 1 and May 1
2018 - 4.21% - 4.68%
2019 - 4.72% - 4.27%
2020 - 3.79% - 4.39%
2021 - 3.2% - 3.14%
2022 - 3.31% - 4.92%
2023 - 6.12% - 6.37%
2024 - 7.00% - 7.41%
2025 - 7.38% - 6.96%
Deschutes County - $1M to $2M - Sales/Median Sale $/Days on Market
2018 - 39 - $1,175,000 - 124
2019 - 53 - $1,199,500 - 103
2020 - 69 - $1,285,000 - 79
2021 - 175 - $1,225,000 - 6
2022 - 249 - $1,300,000 - 5
2023 - 120 - $1,299,500 - 20
2024 - 172 - $1,272,500 - 27
2025 - 195 - $1,350,000 - 22
Deschutes County - $2M to $3M - Sales/Median Sale $/Days on Market
2018 - 6 - $2,247,500 - 41
2019 - 4 - $2,287,500 - 210
2020 - 5 - $2,260,000 - 205
2021 - 21 - $2,200,000 - 13
2022 - 29 - $2,225,000 - 5
2023 - 24 - $2,447,500 - 38
2024 - 28 - $2,237,500 - 37
2025 - 32 - $2,377,000 - 39
Deschutes County - Over $3M -Sales/Median Sale $/Days on Market
2018 - No Sales
2019 - 1 - $3,925,000 - 690
2020 - 4 - $3,150,000 - 790
2021 - 9 - $3,500,000 - 3
2022 - 10 - $3,584,225 - 58
2023 - 5 - $3,150,000 - 54
2024 - 7 - $3,350,000 - 54
2025 - 16 - $3,119,500 - 150
*2025 YTD high $4,950,000
Crook County - Over $1M -Sales/Median Sale $/Days on Market
2018 - 3 - $1,150,000 - 112
2019 - 2 - $1,227,000 - 105
2020 - 2 - $1,033,000 - 149
2021 - 8 - $1,325,000 - 13
2022 - 16 - $1,220,000 - 36
2023 - 16 - $1,420,000 - 100
2024 - 9 - $1,690,000 - 31
2025 - 12 - $1,622,000 - 17
*2025 YTD high $2,447,700
In Deschutes County, except for 2022 in the $1M to $2M range, all high-end sales volumes are experiencing unprecedented highs. The median closed prices I typically report weekly do a better job of showing how firm prices are and how they are growing in our market, especially over $1M. Still, the volume indicates consistently strong buyer demand. Crook County also shows consistent buyer demand, mainly in the Powell Butte area and the Brasada Ranch golf course community.
One aspect not revealed in the data is an intense desire from ultra-qualified buyers for unique trophy locations in Central Oregon. Considering the upward price growth and substantial sales volume now is a great time to list properties that set the bar for an eponymous Central Oregon lifestyle. Remember that the data above is only through May 1 for each calendar year; typically, more sales occur in the high-end in the year's second half.
