Mortgage interest rates jumped by 14 basis points this week to 6.57%, matching recent highs, and up 57 basis points from the low established in late February. This is not a welcome trend for buyers, but activity as we approach summer is still steady, with prices relative to list price remaining firm. Central Oregon real estate is flat, if not slightly down from the 2022 peak, with each region subject to unique dynamics that impact supply and prices. I will include year-to-date numbers comparing 2025 and 2026, which show that the differences are small but noticeable.
Today in Deschutes County, inventory increased by 53 to 1,256 single-family homes listed, compared with 1,299 on this week in 2025. Seventy-seven transactions are pending, down from 96 last week. The median days on the market for pending sales was 14, and 23 properties reduced their list price by a median of 3.34% before securing a buyer. Marketing times are low, and prices are firm for these properties, signs of healthy buyer demand. Sixty-seven transactions closed this week, up 6 from last week. Following the trend of pending sales, 22 of the closed transactions reduced the asking price by a median of 3.2% before securing a buyer, with the sold-to-original-list-price ratio at 98.8%.
Year-to-date 2025 in Deschutes County, there were 1,106 sales at an average price of $888,777, compared to 1,049 and $856,311 this year.
Crook County inventory this week is up by 4 to 230 compared to 218 in 2025. Seven sales are pending, down by 8 from last week. The median days listed for the pending sales was 15, with only two properties reducing the asking price before securing a buyer by a median of 6.45%. Eight transactions closed this week, matching last week, with half of those properties reducing the asking price by a median of 5.23%. The sold-to-original-list-price ratio was 96.88%.
Year-to-date 2025 in Crook County, there were 124 sales at an average price of $581,829, compared to 119 and $633,939 this year. Interestingly, Brasada Ranch sales in year-to-date 2025 were 12, averaging $1,558,895, compared to 7 at $1,429,142. Digging deeper, Crook County sales under $500k in 2025 totaled 82 at an average of $379,912, compared to 66 at $391,268 this year.
Supply in Jefferson County this week increased by 4 to 141, compared to 117 in 2025. Six sales are pending this week, down by one from last week. The median days listed for pending sales was 145, and 4 of those transactions reduced the asking price by a median of 4.34%%. Five transactions closed this week, with one property reducing the asking price by a median of 3.16%, and a sold-to-original-list-price ratio of 97.93%. The big takeaway here is significantly more inventory than at this point in 2025.
Year-to-date 2025 in Jefferson County, there were 80 sales at an average price of $430,252, compared to 91 and $436,925 this year.
While there are slight variations in the data, across Central Oregon, this year is closely following the trends of 2025. Mortgage interest rates are down year-over-year from 6.99% this week in 2025, but not enough to create more buyer demand. The spike in gas prices is undoubtedly having an impact on consumer confidence, offsetting slightly lower mortgage interest rates. It might not feel like “status quo” in the real estate market, but conditions have been remarkably stable since 2023, the period after mortgage interest rates rose to the levels of this real estate cycle.
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