The Central Oregon housing market remains steady, but only incrementally more so than last year. While mortgage rates are undoubtedly lower, the national average for a fixed-rate 30-year conventional mortgage today is 6.31%, up 30 basis points from recent lows. The 6% threshold appears stubborn so far in 2026, and it is unlikely to change until the third quarter at the earliest. Supply is building amid early-summer-like weather, creating opportunities for buyers and bringing down the average days on market for pending and closed transactions. A benefit of these market conditions is stability in prices and conditions, and fewer surprises.
Today in Deschutes County, supply is up by 57 to 959 single-family homes. This week in 2025, there were 927 active single-family listings. Fifty-nine pending sales this week are down 16 from last week, with the average list price at $810,408. Two hundred six homes are pending in the last three weeks, nearly identical to last year's 204 for the same time period. Thirty-six closed transactions are down 13 from last week, with the average at $804,365, and the sold-to-original-list-price ratio at 97.18%, nearly identical to last week's 97.19%.
The sluggish inventory build in Crook County is beginning to break, with 12 more listings this week, bringing the total to 181 single-family homes on the market. In 2025, this week in March, 161 single-family homes were listed. This week marks the third consecutive week with 12 pending sales, nine more than the same three-week stretch in 2025. Four transactions closed this week, up from two last week and averaging $886,250, with the sold-to-original-list-price ratio at 94.79%.
Inventory in Jefferson County is up by two from last week, now at 112 single-family listings. This week of March 2025, 106 single-family homes were listed. Six pending sales this week are up two from last week, with the average pending list price at $480,157. Four transactions closed this week, averaging $333,499, with the sold-to-original-list-price ratio at 98.69%.
The phrase that best describes the 2026 housing market in Central Oregon so far is "incremental improvement." Exciting real estate data translates to a hectic, stressful market, and I am sure many buyers are relieved by steadier conditions. While sellers may not be seeing dramatically higher prices, it has become far easier to determine accurate pricing in today's market.
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