This fall is shaping up to be one of the most active periods of the year, particularly in the $1 million to $2 million segment. Judging by the downward trend in mortgage interest rates, along with increased inventory, I suspect that steady activity will continue into the fall, deeper than in years past. Average price reductions based on original list prices range from 9.3% to over 12% depending on location and price point.
The inventory of single-family homes in Deschutes County, priced between $1 million and $2 million, decreased by 13 listings to 351. Fifteen pending sales, averaging $1,484,033, occurred this week, with an average listing price decrease of 12.22%. Twenty-four transactions closed, the most since early June, with fifteen of those sales negotiating a lower price by an average of 10.39%.
Homes listed between $2 million and $3 million decreased by six to eighty-six listings. There were three pending sales, averaging $2,347,667, and two with a list price decrease of an average of 5%. Five closed transactions are the most of this year, with two showing price decreases averaging 10.67%.
Inventory over $3 million decreased by one to 49, with the average list price at $5,117,890. Three sales are pending, with only one reducing the asking price by 6.8%. The big news in this price tranche is the closed transaction on Tamoli Road at $9,750,000. This property was initially listed for $10,750,000 465 days ago, and boasts an incredible location on 40 acres. So far this year, there have been 34 sales over $3 million, just three shy of 2024's total. The Tamoli Road sale nearly doubled the next-highest-priced sale of this year, at $5,350,000, followed by the third-highest-priced sale at $5,200,000, with the fourth-highest-priced sale at $4,950,000.
Year-to-date in 2024, 27 sales over $3 million totaled $107,912,945, compared to 34 sales in 2025 totaling $131,131,902. The top four sales in 2024 were $9,500,000, two at $5,200,000, and the fourth at $4,975,000. The total dollar volume of the 34 sales in 2024 was $144,411,945.
Homes listed over $1 million in Crook County increased by one to sixty-four at an average of $2,091,446. There were no pending sales. Two transactions were closed: the first at $1,257,500 on Paulina Highway, East of Prineville, and the second at $1,390,000 in Brasada Ranch.
Deschutes County Farm listings decreased by two, now at fourteen. There was one pending sale at $1,699,999, and no closed transactions. Crook County farm listings also dropped by two, now at eleven, with no pending or closed transactions.
It's not surprising to see increased sales volume this fall, given the current market conditions. The strong activity between $1 million and $2 million is impressive, along with what is sure to be a record-setting year over $3 million. With several weeks left in the last busy period before the holidays begin, it will be interesting to see how this year shapes up.
