Today marks the start of the third quarter of 2026, and the national average for a 30-year fixed-rate mortgage is 6.65%. Mortgage rates are following a very narrow range, and trending down slightly since hitting a high of 6.75% on May 19. Supply in both Crook and Jefferson counties declined slightly this week, while Deschutes County continued to experience a modest increase. The big news this week is a massive increase in sold transaction volume in Deschuyes County heading into the Fourth of July holiday weekend.
Today in Deschutes County, inventory levels increased by 10 from last week to 1,420. Eighty-four pending sales are up 10 from last week, averaging $807,268, and 35 of those transactions have had their list prices reduced by an average of 6.45% before securing a contract. The big news today is the 123 closed transactions this week, double last week's volume. The average sale price was $954,538, with 44 transactions reducing the list price before securing a buyer, for an average of 7.02%. The sold-to-original-list-price ratio was 95.87%.
Crook County supply dropped by 1 from last week to 249. Thirteen sales are pending this week, compared to 7 last week, averaging $660,984, and 9 have reduced the asking price by an average of 8.8% before securing a buyer. Five transactions closed this week, up 2 from last week. The average sale price was $598,000, with 4 of those transactions reducing the asking price before securing a buyer, an average of 10.39%. The sold-to-original-list-price ratio was 90.76%
Inventory in Jefferson County decreased by 4 from last week to 153. Nine sales are pending this week, averaging $497,311, and 4 of those listings have reduced their asking prices by an average of 10.87% before securing a buyer. Nine transactions closed this week, averaging $545,029, with 1 listing reducing the asking price by 3.35% before securing a buyer. The sold-to-original-list-price ratio was 98.12%.
Typically, sales slow during the Fourth of July holiday, before picking up for one of the busiest times of year heading into Labor Day. However, the significant increase in sales volume in Deschutes County could be an early indication of increased demand as we begin the second half of 2026. Also typical of this time of year, more price decreases are rolling in as sellers try to position themselves for a sale this summer or fall. Conditions are stable, and aside from elevated mortgage interest rates, they slightly favor buyers.
I hope you and your families have a wonderful holiday full of fun and relaxation!
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