For most of 2026, single-family home inventory in Central Oregon lagged behind 2025 levels, while sales volume had increased. Recently, activity has shifted, largely due to rising mortgage interest rates, with the national average for a 30-year fixed-rate mortgage today at 6.89%. Inventory is growing at a time of year when steady declines toward winter are typically the trend, while sales volume has narrowed compared with last year's totals. This is playing out to different degrees in each of Central Oregon's counties, and I will watch how it develops over the next several weeks.
Deschutes County inventory has been variable rather than peaking and following a smooth decline towards year-end, with today’s level at 1,441, down 5 from last week. The average list price this week is $1,063,072 compared to $1,162,435 this week in 2025. This week in 2025, there were 1,391 listings. Seventy-six pending sales are up by 5 from last week, with 38 of those properties decreasing the asking price by an average of 7.16% before securing a buyer, and an average pending sale price of $866,907. Fifty-two closed transactions this week are down by 36 from last week, with 27 of those listings reducing the asking price by an average of 7.05% before securing a buyer. The sold-to-original-list-price ratio was 94.01%.
In 2025 year-to-date, Deschutes County had 2,405 closed transactions averaging $880,234, compared to 2,390 sales this year, averaging $881,729.
In Crook County, this week’s supply is 264, up 7 from last week. The average list price this week is $911,628 compared to $958,152 this week in 2025. This week in 2025, there were 243 listings. Six pending sales are down 4 from last week, with 1 of those properties reducing the asking price by 1.39% before securing a buyer and an average pending sale price of $406,650. Eight closed transactions this week are double last week’s total, with 6 of those listings reducing the asking price by an average of 5.2% before securing a buyer. The sold-to-original-list-price ratio was 93.84%.
In 2025 year-to-date, Crook County had 260 closed transactions averaging $615,661, compared to 256 sales this year, averaging $659,027.
This week’s inventory in Jefferson County is down by 1 to 154. The average list price this week is $599,765 compared to $583,326 this week in 2025. This week in 2025, there were 133 listings. Three pending sales are down 1 from last week, with 1 of those properties reducing the asking price by 1.49% before securing a buyer and an average pending sale price of $386,283. Two transactions closed this week, down from 5 last week, with 1 of those listings reducing the asking price by 2.7% before securing a buyer. The sold-to-original-list-price ratio was 97.31%.
In 2025 year-to-date, Jefferson County had 177 closed transactions averaging $444,545, compared to 194 sales this year, averaging $489,729.
While this week's numbers show signs of a slightly shifting market, the average sale price is up year over year across all three counties of Central Oregon. Sales volume is very close to 2025 year-to-date numbers, with lots of time left this year for sales to catch up. The biggest takeaway from this week's numbers is that the market is adjusting to higher mortgage rates, with some buyers pulling back a bit to recalibrate. Our market isn’t falling, but deals are available, and many sellers are motivated to secure a buyer before year-end. A lower sale price could largely offset higher mortgage rates, and the market definitely deserves a close look.
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