Welcome to the post-holiday Luxury Market Report! With only 22 business days left this year, the days are winding down on 2025. While any new pending sales are likely to close in 2026, many currently pending sales will still close this year, bolstering what has been a strong year for sales over $1 million. The numbers this week are down due to the missed business days from Thanksgiving, but activity remains surprisingly strong.
Active listings in Deschutes County between $1 million and $1,999,999 dropped by 4, to 247. Nine pending sales are down five from last week, but steady given the missed business days. The average price reduction of the six pending sales that decreased the list price before securing a buyer was 10.54%, continuing the trend of buyers moving on good deals. Eight transactions closed this week, down four from last week, and 6 reduced the price before securing a buyer by 5.32%. The sold-to-original-sale-price ratio was 93.88%.
There are two fewer active listings between $2 million and $2,999,999 in Deschutes County this week, bringing the total to 63. Three sales are pending this week, with all three reducing the list price before securing a buyer, averaging -4.45%. Two transactions closed this week, with one in the north section of the Sunriver Resort for $2,265,000 and the other in Tetherow for $ 2,454,000. The Sunriver sale went for full price, while the Tetherow sale closed 5.58% below the list price.
One fewer active listing over $3 million is available in Deschutes County this week, bringing the total to 40. There were no pending or closed transactions this week.
Crook County active listings over $1 million also decreased by 1, to 49. There was one pending sale in Brasada Ranch on Wildhorse Court, listed for $1,045,000 and showing an 8.73% reduction from the original list price. There were no closed transactions this week.
Deschutes County farm listings over $1 million decreased by one to 14. One sale is pending at $1,550,000, which was reduced by 13.89% before securing a buyer. This EFU (Exclusive Farm Use) zoned property on Deschutes Market Road has development potential for five single-family lots ranging from 1.5 acres to 2.75 acres. There were no closed transactions this week.
Crook County farm listings over $1 million increased by one to 11. There were no pending or closed sales this week. Interestingly, the median sale price of these listings is $3,439,000, and the average is $5,351,364. Looking at all farm listings in Crook County, there are only two listings below $1 million, bringing the total to 13. One is actively growing grapes for wine in-town Prineville at $759,000. This property has a Main Street address, and the home boasts Frank Lloyd Wright-inspired architecture. The other is on 77 acres north of Prineville, on Gerke Road, listed for $969,000.
Typically, a large percentage of listings expire on December 31, and our inventory drops considerably before building up in the spring towards the peak in mid-summer. However, with such steady activity deep into the end of this year, it will be interesting to see if more sellers choose to continue marketing their properties through winter. By all accounts, mortgage interest rates will be down further in 2026, and sales volume should increase. With those dynamics in play, I anticipate increased sales in the luxury market for next year.
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