As mortgage rates continue to climb, the peak of the summer season is winding down. Current economic conditions have not affected all price tranches covered in this report equally, so I will provide year-over-year comparisons to show how today’s market compares. Broadly speaking, the high-water mark was in 2022, but at the highest price points, sale prices are exceeding values from a few years ago. Desirable locations and exceptional homes are attracting discerning buyers.
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Deschutes County single-family homes listed between $1 million and $1,999,999 are at 364 this week, down by 4 from last week. This week in 2025, there were a nearly identical number of listings at 369. Fifteen pending sales this week are up by 7 from last week, with 6 of those listings reducing the asking price by an average of 7.78% before securing a contract. Thirteen closed transactions are 1 fewer than last week, with 5 of those listings reducing their asking price by an average of 12.76%. The sold-to-original-list-price ratio this week was 92.42%.
Year-to-date 2025, there were 487 sales between $1 million and $1,999,999, compared to 489 so far this year. The average sale price in this tranche so far this year is $1,354,425, down slightly from $1,378,496 in 2025.
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Listings in Deschutes County between $2 million and $2,999,999 are down by 4 this week to 69. This week in 2025, there were 94 active listings. Two pending sales this week are down by 1 from last week: one at $2.2M and another at $2.495M, and one reducing the asking price by 16.69% before securing a contract. One transaction closed this week for $2.2M, down 2 from last week. The closed transaction did not reduce the asking price before securing a buyer, but closed at 95.71% of full price.
Eighty-five-year-to-date sales averaging $2,412,501 are up 15 from last year, when sales in this price tranche averaged $2,389,480.
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Forty active listings over $3 million in Deschutes County equals last week’s number, compared to 49 this week in 2025. No sales are pending this week compared with 2 pending sales last week. One transaction closed this week in Tetherow for the full asking price of $3,150,000.
Sales over $3 million this year are at 26, lagging 2025 by 5 transactions. However, the average sale price is up considerably, from $3,686,996 to $4,175,456.
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Crook County supply over $1 million increased this week by 3 to 71. This week in 2025, there were 65 active listings. One sale is pending this week in Brasada Ranch at $1,450,000, up from zero pending sales last week. Five transactions closed this week, up from zero last week, with 4 of those listings reducing their asking price by an average of 13.17% before securing a buyer. The notable sale this week was the Kerley Horse Center at $6,800,000, initially listed at $7,500,000. The sold-to-original-list-price ratio for all sales this week was 89.24%.
Crook County sales over $1 million rose by 5 from 2025 to 38, with an average sale price of $1,731,138, up $152,663 from 2025. Eighteen of this year's sales were in Brasada Ranch, with 17 more in Powell Butte, clearly showing where most luxury market sales in Crook County take place.
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No activity took place this week in the Deschutes County Farm market, with inventory stable at 12, averaging $3,610,667, and 7 price reductions averaging 12.48%.
Crook County farm listings over $1 million are down 1 to 15, averaging $8,433,133, with 10 reducing their asking price by an average of 6.28%. No transactions were pending or closed.
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Continued growth in Central Oregon is maintaining stability in the luxury market, with sales price increases notable for homes listed in Deschutes County over $3 million. Crook County, led by Brasada Ranch and Powell Butte, continues strong sales activity for homes listed over $1 million. Comparable inventory levels to 2025 across the region are creating many opportunities for buyers looking to close by year-end. But steady activity in the late summer and early fall means the best properties are getting a lot of attention.
If you have any questions about pricing or a particular property, please don’t hesitate to reach out.
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