Activity is picking up again after the holiday weekend, with the busiest time of year ahead. Inventory growth is slowing, and before long, supply will begin tapering towards the fall and winter. This can be a make-or-break time for both buyers and sellers. For buyers, missing out on a property that fits their needs leaves fewer and fewer options, while sellers not positioned correctly on price can miss out on buyers ready to take action. Whatever your goals in real estate this year, now is the time to put in the effort to make them come to fruition.
Supply in Deschutes County increased by 30 this week to 1,466, a generous bump after the holiday lull. Eighty-four pending sales are up by 7 from last week, with 35 of those listings reducing their asking price by an average of 7.7%. Sellers who are proactive in correcting prices are being rewarded with contracts. Sixty-eight closed transactions this week are up by 4 from last week, with 24 of those listings reducing the asking price by 6.32% before securing a contract. The sold-to-original-list-price ratio was 96.5%.
Crook County's supply this week is the same as last week at 259. Pending sales increased significantly from 2 last week to 12 this week. Eight of the pending sales reduced their asking prices by an average of 8.82%, indicating that price reductions are paying off for sellers. Three transactions closed this week, down from 8 last week, with a strong sold-to-original-list-price ratio of 97.6%.
Jefferson County inventory has been up all year over 2025, and increased by 4 this week to 158. Four pending sales this week are down one from last week, with three of those listings reducing the asking price by an average of 6.87% before securing a buyer. Five closed transactions are down 2 from last week, with a sold-to-original-list-price ratio of 89.02%. Increased supply in Jefferson County has increased competition, benefiting buyers.
Sellers who have been on the market for a while now have the benefit of first-half activity to gauge where they should be priced. Unless a seller is willing to ride out the market through winter, now is the time to adjust. Personally, I am a believer of fewer, larger price decreases than many smaller adjustments, but as always, this is a case-by-case analysis. Mortgage interest rates are stable at 6.64% this week for the national average of a 30-year fixed-rate conventional loan. While higher rates have kept activity in check, stability has made planning and budgeting more straightforward for buyers. Please reach out if you need a comprehensive analysis of your real estate options in Central Oregon.
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