While inventory is still building across much of Central Oregon, signs are emerging that the yearly transition to a shrinking supply is approaching. Typically, the definitive shift in supply occurs in late July to early August. However, this year's inventory has fallen short of 2025 levels, and the tipping point might occur sooner. Keep in mind that supply is only incrementally lower than last year, but it remains a persistent trend. The 30-year fixed-rate conventional mortgage today is 6.55%, down from recent highs and likely to soften further as we move into the second half of the year.
Today in Deschutes County, there are 1,401 single-family listings, a 25-unit jump from last week. 91 pending sales are up by 3 from last week, with 42 listings reducing their asking prices by an average of 5.06%. 78 transactions closed this week, the same as last week, with 23 of those listings reducing the asking price by an average of 6.51% before securing a contract. The sold-to-original-list-price ratio was 96.67% for the week. The median days listed for the closed transactions was a speedy 21 days.
Inventory in Crook County today is 25, up by 6 from last week. 11 sales are pending, up by 5 from last week, with 5 reducing the list price by an average of 8.8% before securing a contract. 9 transactions closed this week, down by 2 from last week, with 3 reducing the list price by an average of 8.69% before securing a buyer. The sold-to-original-list-price ratio was 92.54%, with a median days-on-market of 49.
Jefferson County’s supply decreased by 2, now at 154 listings. 8 pending sales this week are down by 2 from last week, with 3 of those properties changing their list prices, averaging an increase of 1.02%. 4 transactions closed this week, half of last week's volume, with 1 price change, an increase of 0.02%. The sold-to-original-list-price ratio this week was 103.01%, with a median of only 23 days on the market. Jefferson County has had the lowest price-reduction percentage among the three Central Oregon counties in 2026 to date.
With the Fourth of July only a couple of weeks away, we are unquestionably in the peak season for housing in Central Oregon. 2026 might not be as busy as expected, but sales have been consistent, and most sellers are maintaining or exceeding prices from the 2022 peak. Competition in the lower price points has created opportunities, and desirable properties priced right across all segments are selling quickly. If mortgage rates, gas prices, and geopolitical turmoil continue to soften, this fall could make up for what so far has been a modestly active year.
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