Today, I am happy to bring you another Central Oregon Market Report after a short break. But the markets have, of course, carried on, and I have all the data from the last couple of weeks to share and get you caught up with where housing stands today.
First, mortgage interest rates have been stubbornly high since late February, when yields on the 10-year Treasury increased, with the national average for a 30-year fixed-rate conventional mortgage at 6.61% today. It is apparent that higher interest rates and other economic conditions are tempering the housing markets, but not dramatically. Buyer demand continues to be strong.
On my last report on May 13th, there were 1,256 single-family homes listed in Deschutes County compared with 1,363 today. This week in 2025, there were 1,466, showing a consistent trend of less inventory in 2026. Seventy-nine sales are pending this week, compared to 85 last week, and 91 on the week of May 20. Closed transactions are up considerably, reflecting buyers who took advantage of lower rates several weeks ago, with 91 transactions this week. On May 13, there were 67 closed transactions; on the 20th, 58; and last week, 71. The average closed sale price this week was $898,444, with the sold-to-original-list-price ratio at 96.9%.
On May 13th in Crook County, there were 230 single-family homes listed compared with 238 today. This week in 2025, there were 225, showing a steady supply for 2026 relative to last year. Seven sales are pending this week, compared to 8 last week, and 8 on the week of May 20. Closed transactions in Crook County are up considerably, with 16 transactions this week. On May 13, there were 8 closed transactions; on the 20th, 7; and last week, only one. The average closed sale price this week was $632,012, with the sold-to-original-list-price ratio at 96.56%.
In Jefferson County, there were 141 single-family homes listed on May 13th, compared with 151 today. This week in 2025, there were 120, with 2026 outpacing last year's supply. Nine sales are pending this week, compared to 7 last week, and 9 on the week of May 20. Closed transactions in Jefferson County show 3 this week. On May 13, there were 5 closed transactions; on the 20th, 5; and last week, three. The average closed sale price this week was $411,300, with the sold-to-original-list-price ratio at 94.49%.
The difference in inventory levels across Central Oregon Counties is notable, but not dramatic. Buyers today are still motivated, but in my research of closed and pending sales, there appears to be more selectivity over homes that are moving and those that are sitting. A more restrained build-up to peak inventory in 2026 has removed some of the “wait and see” dynamic for buyers, as it is less likely that more great options will hit the market. These are all incremental changes from 2025, but significant considering where many, including me, expected the market to unfold this year.
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