The national average for a 30-year fixed-rate mortgage today is 6.75%, only several basis points higher than this time last year. Supply in Central Oregon is declining this week in Deschutes and Crook Counties, and flat in Jefferson County, as we have reached the seasonal tipping point in inventory growth for 2026. Activity remains steady this week, as expected for what is consistently the busiest time of the year. Thankfully, the major fire threats in Central Oregon are largely under control, even though there is plenty of fire season left before we can expect moisture that will help tamp down the risk.
Deschutes County inventory of single-family homes decreased by 16 to 1,439 today. Seventy-eight pending sales are down by 13 from last week, with the average list price of these transactions at $854,784. Seventy-eight closed transactions are down 2 from last week, with the average sale price at $1,093,060. The sold-to-original-list-price ratio was 96.82%.
Supply in Crook County decreased by 4 to 264 today. Ten pending sales are double last week's total, with the average list price of these transactions at $1,575,480. Twelve closed transactions are triple last week's total, with the average sale price at $545,250. The sold-to-original-list-price ratio was 92.67%.
For the third consecutive week, inventory in Jefferson County is stuck at 151. Three pending sales this week are 2 fewer than last week, with the average list price of these transactions at $826,317. Eight closed transactions this week are up by 5 from last week, with the average sale price at $387,403. The sold-to-original-list-price ratio was 98.99%.
Notable this week across all Central Oregon Counties is the higher sold-to-original-list-price ratio and strong activity in higher price points. It is not unusual for home sales over $1 million to pick up in the second half of the year, and this year appears to be consistent with that trend. As inventory declines, buyers begin to take action after spending the first half of the year evaluating the market. Sellers also have the benefit of first-half-of-the-year sales to make price corrections, and closer-to-list-price deals become more commonplace. Nobody expected mortgage interest rates to be at the level they are today, but rates are still very close to last year’s level. Stability is the key to today’s activity.
Sign Up for the Central Oregon Market Report
Sign Up for the Central Oregon Luxury Market Report
Your Bend Real Estate Agent is here to help
Reed Melton serves Bend and surrounding areas
Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.