The national average for a 30-year fixed-rate conventional mortgage today is 6.32%, down slightly but stable. While this is higher than expected, rates are near enough to 6% to keep activity steady. Inventory continues to rise, with activity picking up, but the market remains subdued overall. The Central Oregon housing market is as balanced as it has been in several years, making for very predictable pricing, with few surprises. With relatively flat pricing since the 2022 peak and more supply across all price points, the tone for 2026 seems set. Without something that shakes up the economy, this year looks to be a near mirror image of 2025.
Deschutes County supply increased by 26 this week to 1,154. The average list price is $1,136,560, and 509 homes have reduced their asking prices by an average of 5.7%. Eighty-four sales are pending this week, up by 2 from last week. Forty of the pending sales reduced the asking price by an average of 7.71%. Sixty-three transactions closed this week, averaging $798,193, and 21 reduced the asking price by an average of 4.6% before securing a buyer. The average sold-to-original-list-price ratio was 96.76%. Only one-third of the sold properties reduced their asking prices, and a sold ratio of less than 4% off the list price shows that sellers are zeroing in on the right pricing, and buyers are stepping up. One word describes the Deschutes County market: stable.
Crook County inventory is accelerating, with 15 more listings than last week, bringing the total to 226. The average list price is $987,089, and half of the active listings have reduced their prices by an average of 5.69%. Pending sales dropped from 11 last week to 4, with only one price change of 8.29%. Three transactions closed this week, down from 7 last week. There were no price changes before securing a contract, with the sold-to-original-list-price ratio at 99.7%. All in all, this was a slow week for transactions and a strong week for pricing.
The Jefferson County inventory is up by 8 to 128 active listings. Pending sales were down significantly last week, from 11 to 3, with no price reductions. Six transactions closed this week, down 2 from the previous week. Four of the closed transactions reduced the asking price by an average of 5.62%, with an average sold-to-original-list-price ratio of 96.77%. Jefferson County closely followed Crook County this week with less activity and strong pricing.
The stability in the Central Oregon housing market is creating a level of predictability not seen in years. While 2025 saw increased activity over 2024, this year is looking flat across most metrics. Inventory in all but the highest price points is down slightly. Check out my Friday Luxury Market Report for a comprehensive analysis of the $1 million and up market here!
Sign Up for the Central Oregon Market Report
Sign Up for the Central Oregon Luxury Market Report
