My Weekly Central Oregon Real Estate Blog

Every Wednesday morning, I post a market report for Central Oregon with information about homes, market trends, and real estate news, and on Friday, I post about the luxury market. Register today, or contact Reed for immediate assistance. 

Nov. 5, 2025

Central Oregon Market Report | November 5, 2025

Central Oregon Market Report for November 5, 2025

 

Shorter days and changing weather are settling into Central Oregon, and the housing market is in the midst of the seasonal slowdown in transaction volume. But for the buyers active today, the deals negotiated have been well worth the effort. In any year, a significant number of sellers on the market late in the year are highly motivated to close by year's end, and this year is no different. While mortgage rates may be slightly higher than recent lows, they remain attractive, especially when combined with double-digit price reductions. Granted, the properties taking the deepest cuts were overpriced to begin with, but deals are still happening, and sales volume is up year over year.

 

 

Inventory in Deschutes County sits at 1,157 single-family homes, down 84 from last week, and up 90 from this week last year. Fifty-three pending sales averaged $853,089, with 33 of those reducing the price by an average of 6.29% before finding a buyer. Sixty-five sales closed, averaging $884,329, with 44 of those transactions reducing the price an average of 8.24% before securing a contract. The sold-to-list ratio was 97.4%, with the sold-to-original list ratio at 91.87%. Not every home adjusted its price, but several cut prices even deeper than the average, offering some great deals for buyers.

 

 

Crook County inventory decreased eight to 204 single-family listings. Four pending sales averaged $493,475, with one reducing the asking price by 15.33%. Eight transactions closed this week, averaging $609,875, with the sold-to-list ratio at 99.44% and the sold-to-original-list ratio at 93.85%.

 

 

Jefferson County inventory remains stable at 129, down six from last week. Four pending sales averaged $401,475, and all four listings reduced prices by an average of 8.95%. Two transactions closed this week, at $425,000 and $444,900. The closed sale at $425k initially listed at $639,000, a 33.5% reduction after 712 days on the market. The other closed transaction closed at 7.1% below the list price after 493 days on the market, notable for a home built in 2024. Higher mortgage rates and increased inventory have significantly altered the dynamics for many properties in Jefferson County.

 

 

For buyers ready to purchase this fall, who can find a suitable property, the conditions are better than they have been in several years. Much of this comes down to sellers being realistic about today's market. Overall, sales volume is up slightly from last year, along with prices, but in much smaller increments than the run-up to the peak market in 2022. Increased competition creates opportunity, but stability is the best word to describe the Central Oregon Housing market today. With another Federal Reserve rate decrease all but off the table until late January, there shouldn't be any surprises for the next few months as we transition to a new year and a fresh selling season. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 31, 2025

Central Oregon Luxury Market Report | October 31, 2025

Central Oregon Market Report for October 31, 2025

 

After the Fed lowered rates by 25 basis points this week, mortgage rates jumped almost the same amount, continuing the trend of the lowest rates of the cycle directly preceding the Federal Reserve Open Market Committee meeting. To borrow a phrase from Alan Greenspan, I'd call the hopes of lower rates irrational exuberance. While most people understand that the Fed's overnight rate does not directly tie to mortgage interest rates, which more closely follow the 10-year Treasury Bond, there appears to be some misplaced anticipation that a decrease in the overnight rate will reduce mortgage rates. Without getting into the temperament of bond investors, demand for higher yields has derailed the highly anticipated decline in mortgage interest rates. Everything should settle out over the coming weeks, especially in light of Jerome Powell's comments after the meeting that another rate decrease in December is all but off the table. While lower Fed overnight rates may eventually trickle down to mortgage interest rates, there are no straight lines in economics.

 

 

Deschutes County single-family listings between $1 million and $1,999,999 decreased by 18 this week to 301. Twelve pending sales are up by two from last week, averaging $1,301,900, and 7 of those had list prices reduced by an average of 3.28% before securing a buyer. Eighteen closed transactions nearly double last week's ten, averaging $1,392,942, with an average price decrease before securing a contract of 9.72%. The sold-to-original list price ratio this week was 91.79%.

 

 

Listings between $2 million and $2,999,999 in Deschutes County decreased by 2, to 80. One pending sale at $2,250,000 occurred on Swalley Road in Tumalo. Two closed transactions occurred, one on Cloverdale Road in Sisters for $2,150,000, initially listed for $2,350,000, and the other on Columbia Street in Bend for $2,700,000, initially listed for $3,295,000. Both closed transactions show how much sellers are willing to negotiate to make sales happen this fall.

 

 

The inventory in Deschutes County over $3 million this week is flat at 45, with no pending or closed transactions.

 

 

Listings over $1 million in Crook County decreased by one this week to 60. There were no pending sales, with one closed transaction at $1,700,000 on Prospect Court in Brasada Ranch. The closed transaction initially listed for $1,895,000.

 

 

Deschutes County farm listings over $1 million decreased by one to 15, with no pending or closed transactions. Crook County farm listings over $1 million are flat at 10, with no pending or closed transactions.

 

 

With Jerome Powell stating that another rate decrease from the Fed this year is highly unlikely, we should return to a period of stability with the next Fed meeting not taking place until late January 2026. The national average for a 30-year fixed-rate Jumbo mortgage is 6.3%, up from recent lows. I anticipate Jumbo rates decreasing slightly as markets digest the Fed's latest move and bond investors adjust to current economic conditions. It is still likely that mortgage interest rates will be in the high 5% range by spring of 2026, but rates in the low 5% range seem unlikely. One positive of slightly higher interest rates is increased inventory, which creates competition between sellers. As we have witnessed this fall, buyers are negotiating prices double-digit percentage points below initial list prices, which in many cases is a bigger financial benefit than a slightly lower interest rate. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the close by areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 29, 2025

Central Oregon Market Report | October 29, 2025

Central Oregon Market Report for October 29, 2025

 

Today, all expectations point towards the Federal Reserve lowering the overnight rate, most likely by 25 basis points. This morning, the national average for a 30-year fixed-rate conventional mortgage is 6.13%, the lowest since rates hit 6.11% in early September last year. Jerome Powell and the Fed governors have consistently said they plan another cut at the last meeting of the year in December. While I do not expect rates to dip much after today's Fed announcement, by year-end, there is every likelihood that the average conventional mortgage rate will be below 6%.

 

 

If prices remain stable, there is no argument that lower rates will help buyers and, in turn, sellers. However, in healthy markets, lower rates increase competition, reduce inventory, and put downward pressure on prices. The keyword here is "healthy." Lately, I have read a lot about the housing affordability index and the broader concerns about the economy. Whether the market is shifting remains to be seen. If inventory levels of homes in Central Oregon remain elevated through winter and build rapidly in the spring, despite lower mortgage interest rates, it could be an indicator of the overall economy changing.

 

 

This morning, in Deschutes County, the inventory of single-family homes decreased by 14 to 1,241. Pending sales remain stable, albeit less than in the past several weeks, at 59. The average pending sale price was $871,529, and 35 of those listings reduced the price before securing a buyer. Fifty-three transactions closed this week at an average of $852,513, with 28 of those listings reducing the list price by 6.55% before securing a buyer. Thirty of the closed transactions negotiated a price below the list price, with the standout price drop initially listed at $3,295,000 and closing at $2,700,000, a 18% decrease. The sold-to-original list price ratio this week was 93.5%.

 

 

Inventory in Crook County this week decreased by five to 212 active single-family listings. Pending sales are on pace with the past several weeks, with eight, averaging $419,075. Seven transactions closed, averaging $638,571, with the average price reduction before securing a buyer at $5.5%. The sold-to-original list price ratio was 95.3%.

 

 

For the second consecutive week, Jefferson County inventory increased, this week by five to 135 active listings. For reference, the inventory high this year occurred on August 20 at 144. Pending sales remain stable with five this week, averaging $354,180. There were six closed transactions this week, averaging $344,533, with the average price reduction at 7.78%. The sold-to-original list price ratio this week was 93.1%.

 

 

Increased inventory across Central Oregon this fall could be an early indication of a market shift. While mortgage interest rates have decreased, the reduction occurred too late in the selling season to have a substantial impact this year. Inventory trends over the next few months will paint a picture of what to expect from the spring market. If inventory increases and sales are sluggish this spring, it will create competition among sellers and put downward pressure on prices. Conversely, if lower interest rates motivate buyers, and inventory levels remain low, prices will firm up. Whatever the 2026 market holds, there is no question that conditions today favor buyers more than at any time in the past several years. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 24, 2025

Central Oregon Luxury Market Report | October 24, 2025

Central Oregon Luxury Market Report for October 24, 2025

 

Late fall is arguably the best time of the year for buyers, as many sellers are motivated to close before year-end. This year, mortgage rates are declining, with the national average for a 30-year fixed-rate Jumbo loan at 6.14%, and inventory levels are elevated compared to recent years. However, looming winter weather and holiday schedules lead to a seasonal decline in activity, inevitably slowing the market. This week shows a divergence in activity between the different price tranches, expected for the season.

 

 

This morning in Deschutes County, the inventory of homes for sale between $1 million and $1,999,999 decreased slightly to 319, down seven from last week. Supply remains elevated, but pending sales dropped significantly to ten from fourteen the previous week. Seven of the ten pending sales reduced the list price before securing a contract. There were ten closed transactions, down from 15 last week, with 6 of those sales reducing the list price before securing a contract.

 

 

Of the ten sales, two closed at full price, two were over the list price (+1.7% and +9%), and six closed below the asking price by an average of 5.08%. The average list price decreased by 7.4%. I recognize these numbers can get confusing, but here is an example of a home that sold on Titleist Lane, Sunriver: Original List Price $2,195,000, New List Price $1,975,000, Closed Price $1,800,000, representing a total decrease from the original list price of 17.99%. This example home, built in 1997, last sold in 2020 for $700k, with gross returns to the seller of 157.1%!

 

 

The inventory of homes listed in Deschutes County between $2 million and $2,999,999 decreased by 6 to 82 listings. Activity is up considerably, with four pending sales (one last week) and five closed transactions (also one last week). Two of the four pending sales reduced their list prices by an average of 8.29% before securing a buyer. Of the five closed transactions, three sold at the full asking price. Two of the closed transactions sold below asking, with one listed at $2,928,610 and selling at $2,750,000 (-6.1%), and the other listed at $2,900,000 and selling at $2,500,000 (-13.8%).

 

 

Deschutes County homes listed for over $3 million decreased by three to 45. Two pending sales listed at $3,999,000 and $5,700,000 occurred with no closed transactions. The pending sale at $5.7M, initially listed 450 days ago at $6.3M, went to an auction format to secure a buyer. In my analysis, the home was considerably overpriced, and it will be interesting to see what the final auction price was once the transaction closes.

 

 

Crook County inventory over $1 million decreased by one, now at 61 listings. There were no pending sales this week, with two closed transactions: $1,074,000 in Prineville on Oneill Highway and $1,399,999 in Brasada Ranch on Wooden Trestle Lane.

 

 

Deschutes County farm listings over $1 million are stable at 16 with no pending or closed transactions. Crook County farm listings over $1 million are stable at ten with no pending or closed transactions.

 

 

The weekend forecast is for stormy weather, with snow possible in Sunriver and in the higher elevations. Beginning Monday, sunny skies and slightly cooler temperatures will prevail, stretching out our fantastic fall weather. It is impossible to know how much the weather slows activity in the housing market, with the holidays likely the bigger factor in the decrease in transaction volume until real winter weather hits. On the 29th, the Federal Reserve will announce its next move on interest rates, likely a 25-basis-point reduction. Mortgage rates today are adjusting in anticipation of the next Fed move, setting up excellent conditions for buyers as 2025 winds down. However, the bigger impact in the housing market will be in the spring when the full implications of where rates settle have time to sink in. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the close by areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 22, 2025

Central Oregon Market Report | October 22, 2025

Central Oregon Market Report for October 22, 2025

 

With the next Federal Reserve Open Market Committee meeting only six days away, the industry insiders expect another rate cut. Mortgage rates move in anticipation of Fed cuts, not in reaction to them, and judging by today's national average 30-year fixed-rate conventional mortgage rate of 6.17%, another 25 basis point cut is most likely on the way. The FOMC's last meeting of the year is on December 9, and it is likely to result in another 25% decrease in the overnight rate. While activity this fall has been steady, I don't anticipate these end-of-year decreases to make a significant impact on the 2025 housing market. However, the reduced rates now are beginning to paint a picture of what is in store for 2026.

 

 

This morning in Deschutes County, the inventory of single-family homes decreased by 27 to 1,255. This level is 110 more than last year this week as supply begins the natural decrease into the winter months. Pending sale activity remains stable with 64 homes finding buyers, at an average list price of $923,729. Four of the pending sales exceeded $2 million, with another nine exceeding $1 million. Sixty-two transactions closed this week at an average list price of $934,656, with thirty-eight of those sales reducing the list price before securing a buyer. Thirty-one of the closed transactions negotiated a price below the asking price, with eight properties selling above the asking price.

 

 

Inventory in Crook County decreased by five this week, now at 217 single-family listings, and an increase of thirty-three from last year this week. Eight pending sales averaged $500,794, with two of those sales reducing the asking price before securing a buyer. The first of the pending sales that reduced the asking price went from $395k to $339k, while the second dropped from $800k to $549k! Five transactions closed this week, averaging $607,999. One of those closed sales was at Brasada Ranch for $1,399,999, with the original list price of $1,625,000. All four of the remaining sales negotiated a price below the list price.

 

 

Jefferson County is the outlier this week, gaining two listings to bring the total single-family listings to 130, thirteen more than this week last year. There were three pending sales this week, with one listing decreasing the list price by 3.45% before securing a buyer. Five transactions closed, averaging $385,151, with one reducing the asking price by 2.45% before securing the buyer. One of the sales negotiated a very slight discount below the asking price, while two transactions sold above the list price.

 

 

Evaluating data across the three counties of Central Oregon requires knowledge of our area and hand calculations beyond what is available in our MLS. In many cases, homes are selling for considerably less than the list price or the reduced asking price. Every property is unique, and I am always happy to help you determine what a property might sell for, whether you are buying or selling.

 

 

Mortgage interest rates rose steeply starting in 2022 and surpassed 4% on February 14 of that year. Rates peaked on October 16, 2023, at 7.94%, before the slow, steady decline to this morning's rate of 6.17%. With rates on track to be in the 5% range for 2026, this chapter of the housing market is closing, and the next begins in early spring. As buyers re-engage the market in earnest, I expect less inventory accumulation, firmer prices, and less negotiating as next year unfolds. All of these scenarios will tighten as we get closer to 5%, and even more so if rates drop below that threshold. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 17, 2025

Central Oregon Luxury Market Report | October 17, 2025

Central Oregon Luxury Market Report for October 17, 2025

 

At this time of year, the behavior in the market above $1 million and the broader market diverges, with inventory trends the most notable difference. This year, across all price points, inventory was high and remains elevated as we approach winter. However, even with elevated inventory, the broader market is beginning the seasonal decline of available listings in earnest in Deschutes County, while smaller Crook and Jefferson County levels remain stable. Activity in the luxury markets remains steady, with several properties listing and going under contract after single-digit days on the market.

 

 

Luxury is a loosely defined term that means different things to different people, but for my reporting, I define it as properties listed for over $1 million. In Deschutes County this morning, there are 326 single-family listings over $1 million, down by 16 from last week. This price tranche most closely matches the broader market and is the most active segment over one million dollars. Fourteen sales are pending this week, averaging $1,400,979, while 15 closed transactions average $1,407,866.

 

 

Between $2 million and $2,999,999, there are 88 single-family listings in Deschutes County, up by one from last week. There was one pending sale in Deschutes River Woods on the edge of Baker Lake for $2,495,000, with one closed transaction in Discovery West at $2,850,000, initially listed for $2,895,000. The Baker Lake pending sale was on the market for 8 days, and the Discovery West closed transaction was listed for 4 days. Single-digit marketing days at this time of year show that buyers are still stepping up for the right property, even as November looms.

 

 

Deschutes County listings over $3 million remain at 48 this week, with one pending sale in Rivers Edge Village above the Deschutes River in Bend at $3,185,000. There were no closed transactions this week.

 

 

In Crook County, listings over $1 million dropped by one to 62 this week. There were no pending or closed transactions.

 

 

Deschutes County farm listings over $1 million increased by two this week, now at 16 listings. There were no pending or closed transactions this week.

 

 

Crook County Farm listings over $1 million remain at ten, with no pending or closed transactions.

 

 

With cold nights and warm sunny days, this fall, the weather couldn't be better, and I suspect it is helping to extend the buying season. This morning, the national average for a 30-year Jumbo loan is 6.2%, another factor likely motivating buyers. Inventory levels and mortgage interest rates will be the best predictors of how next year's markets will behave as we head into spring 2026. With declining mortgage rates, it is unlikely the mix of elevated inventory and motivated sellers will continue, at least to the degree we are experiencing this fall. It is too early to predict mortgage interest rates for the coming year, but it seems increasingly likely that rates will be somewhere in the five-percent range. Whatever happens in the luxury market in Central Oregon, the trends will be revealed here in this report first! 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the close by areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 15, 2025

Central Oregon Market Report | October 15, 2025

Central Oregon Market Report for October 15, 2025

 

Activity across Central Oregon remains steady, but differences between Deschutes County, the region's largest population center, and smaller Crook and Jefferson counties are beginning to emerge. Inventory remains elevated compared with recent years, but the seasonal slowdown into winter, combined with steady sales, has reduced the number of homes actively listed. However, with the national average for a 30-year fixed-rate mortgage at 6.31%, conditions have brought some much-needed relief for buyers.

 

 

Inventory of single-family homes in Deschutes County dropped 40 this week to 1,282, a level not seen since early May. Sixty-seven pending sales this week at an average of $905,972 is just shy of the pending sales average of the past two months of seventy. There were forty-eight closed transactions this week, averaging $889,926.

 

 

Crook County inventory dropped by six to 222 single-family listings, a volume last seen in late May. Seven pending sales are on par with the past several weeks, with an average list price of $476,114. There were seven closed transactions this week, averaging $758,214, with one in Powell Butte and another in Brasada Ranch. The Powell Butte properties, including Brasada Ranch, generally sell at prices well above the average Prineville sale price, and just two of seven Powell Butte sales this week raised the average sale price. The overwhelming majority of sales over $1 million in Crook County take place around Powell Butte.

 

 

The inventory in Jefferson County dropped by one this week to 128 single-family listings. On July 30 this year, the inventory was at 120, before spiking to 131 the following week. I assume that sellers recognized the steady activity and flooded the market later in the year, since an increase in inventory this late in the year is not typical. Four pending sales this week averaged $388,225, with two closed transactions at $265,000 in Madras and $465,000 in Metolius.

 

 

Conditions continue to favor buyers this fall in Central Oregon, but as winter looms, inventory decline will steepen. After some early snow in the mountains and brisk morning temperatures as of late, expect mild temperatures for the next several days. Cold temperatures and significant snowfall significantly slow the housing market. Keeping an eye on inventory will be one of the strongest early indications of what the 2026 housing market holds, along with mortgage interest rates over the winter and into spring. If the Fed narrative holds and rates drop another ~50 basis points between now and the end of the year, it is unlikely to affect the remainder of 2025 but will be a strong early indication of spring market conditions. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 10, 2025

Central Oregon Luxury Market Report | October 10, 2025

Central Oregon Luxury Market Report for October 10, 2025

 

Lower, stable mortgage rates, increased inventory, and beautiful weather are helping keep the luxury market active, but the winter holidays are looming, along with inhospitable weather. More so than the broader market, the luxury markets tend to slow more during the winter months, and this week's data is showing early indicators of that seasonal trend. Still, there were some notable transactions, and the highly active $1 million to $2 million range remains consistent with past weeks. There is no question that market conditions favor buyers this fall, with many motivated sellers and great deals available.

 

 

The inventory of single-family homes in Deschutes County between $1 million and $2 million decreased by nine this week to 342 listings. Fourteen pending sales averaged $1,414,171, and seven of those properties reduced their asking prices by an average of 7.25%. Interestingly, the closed transactions were also fourteen, with seven price reductions. The average list price of closed transactions was $1,335,214, and the average decrease for the seven properties that dropped their list price was -10.09%. Eleven of the fourteen sales negotiated a further reduction from the reduced list price, ranging from -6.98% to 0.67% and averaging 3.64%. That equates to nearly a 14% reduction from the original list price!  

 

 

The supply of single-family homes priced between $2 million and $3 million increased by 1, to 87 listings. There were no pending or closed transactions this week.

 

 

Single-family homes listed over $3 million in Deschutes County decreased by one to 48. The decrease is due to a single pending transaction: a beautiful home in North Rim listed for $3,995,000 and on the market for 222 days. However, this home has been on and off the market since 2022. There were no closed transactions this week.

 

 

Crook County single-family listings over $1 million decreased by one this week to 63. One pending sale was recorded in Brasada Ranch at $1,799,000, initially listed for $2,195,000. There was one closed transaction on Powell Butte at $1,725,000. The transaction initially listed for $2,100,000, but the seller reduced the list price to $1,950,000. That is a total reduction from the original list price to the final negotiated price of 17.86%!

 

 

There are thirteen active listings of farm property in Deschutes County over $1 million, averaging $4,552,923. One pending transaction on Innes Market Road occurred for $1,750,000, initially listed for $2,300,000, and on the market for 532 days. There were no closed transactions.

 

 

Crook County farm listings over $1 million are down by one, with ten active listings in the MLS. There were no pending or closed transactions.

 

 

Activity this week outside the $1 million to $2 million tranche was slow. Still, it is too early to tell whether this is the beginning of the seasonal decline or just an anomaly. Either way, sellers at this time of year are motivated, and buyers are negotiating some great deals. No matter the market conditions, fall is an excellent time for buyers in Central Oregon, and this year's conditions are better than in recent years. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the close by areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 8, 2025

Central Oregon Market Report | October 8, 2025

Central Oregon Market Report for October 8, 2025

 

Stability in the housing market continues, with mortgage interest rates for a 30-year fixed-rate conventional loan remaining at 6.38%, and inventory levels higher than in several years. Our spectacular weather this fall is likely a contributing factor, yet another aspect helping buyers. At this time of year, homes listed for many weeks, or even months, tend to finally find a buyer, with fewer new listings entering the market. This year continues to outpace 2024 in all aspects: Deschutes County year-to-date sales in 2024 were 2,616, with an average sale price of $852,307, compared to 2,730 and $874,657 so far in 2025. And 2024 was up over 2023, showing steady but modest price appreciation since the peak in 2022. Whether the Fed lowers the overnight rate again this year remains to be seen, but another 25-basis-point decrease is unlikely to alter the trends of 2025.

 

 

There are nine fewer homes listed in Deschutes County this week, bringing the total to 1,322. Sixty homes are pending at an average list price of $896,213, a modest decrease from recent weeks' activity. Fifty-nine transactions closed this week, averaging $799,362, with 34 of those closings reducing the price an average of 7.64%. This week in 2024, there were 1,174 listings in Deschutes County, 11.19% fewer than this year.

 

 

Crook County listings of single-family homes decreased by four to 228. Nine pending sales averaging $850,553 are consistent with the past several weeks. Ten transactions closed, averaging $494,123, with six of the ten reducing the price an average of just 1.9%. This week in 2024, there were 180 listings in Crook County, 26.7% fewer than this year.

 

 

This morning in Jefferson County, there are 129 single-family listings, only two fewer than last week. Seven pending transactions averaging $460,664 occurred this week, with one closed transaction at $310k, 3.33% above the list price. This week in 2024, there were 118 listings in Jefferson County, 9.3% fewer than this year.

 

 

How low inventory levels drop this winter, along with mortgage interest rates, will be a significant factor in shaping the trends for spring 2026. The low point for Deschutes County inventory last season occurred on February 5, 2025, at 750 listings. Additionally, the lowest inventory levels were reported in Crook County on February 26, 2025, at 143 listings, and in Jefferson County on January 15, 2025, at 89 listings. Based on the trends this fall, inventory levels will remain elevated through winter, providing spring buyers with a greater selection. If mortgage rates this spring dip below 6%, I expect activity to be robust, with buyers quickly absorbing excess inventory. Several factors could shape the trends in our market for next year, but inventory levels and interest rates are the two primary contributing factors to how the market develops in 2026. 

 

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Reed

Your Bend Real Estate Agent is here to help

Reed Melton serves Bend and surrounding areas

Whether you are searching in Bend or any of the nearby areas, I want to help you find the perfect property. Even if you are in the beginning stages of your search, I always like to be a resource, no pressure ever.
Oct. 3, 2025

Central Oregon Luxury Market Report | October 3, 2025

Central Oregon Luxury Market Report for October 3, 2025

 

This fall is shaping up to be one of the most active periods of the year, particularly in the $1 million to $2 million segment. Judging by the downward trend in mortgage interest rates, along with increased inventory, I suspect that steady activity will continue into the fall, deeper than in years past. Average price reductions based on original list prices range from 9.3% to over 12% depending on location and price point.

 

 

The inventory of single-family homes in Deschutes County, priced between $1 million and $2 million, decreased by 13 listings to 351. Fifteen pending sales, averaging $1,484,033, occurred this week, with an average listing price decrease of 12.22%. Twenty-four transactions closed, the most since early June, with fifteen of those sales negotiating a lower price by an average of 10.39%.

 

 

Homes listed between $2 million and $3 million decreased by six to eighty-six listings. There were three pending sales, averaging $2,347,667, and two with a list price decrease of an average of 5%. Five closed transactions are the most of this year, with two showing price decreases averaging 10.67%.

 

 

Inventory over $3 million decreased by one to 49, with the average list price at $5,117,890. Three sales are pending, with only one reducing the asking price by 6.8%. The big news in this price tranche is the closed transaction on Tamoli Road at $9,750,000. This property was initially listed for $10,750,000 465 days ago, and boasts an incredible location on 40 acres. So far this year, there have been 34 sales over $3 million, just three shy of 2024's total. The Tamoli Road sale nearly doubled the next-highest-priced sale of this year, at $5,350,000, followed by the third-highest-priced sale at $5,200,000, with the fourth-highest-priced sale at $4,950,000.

 

 

Year-to-date in 2024, 27 sales over $3 million totaled $107,912,945, compared to 34 sales in 2025 totaling $131,131,902. The top four sales in 2024 were $9,500,000, two at $5,200,000, and the fourth at $4,975,000. The total dollar volume of the 34 sales in 2024 was $144,411,945.

 

 

Homes listed over $1 million in Crook County increased by one to sixty-four at an average of $2,091,446. There were no pending sales. Two transactions were closed: the first at $1,257,500 on Paulina Highway, East of Prineville, and the second at $1,390,000 in Brasada Ranch.

 

 

Deschutes County Farm listings decreased by two, now at fourteen. There was one pending sale at $1,699,999, and no closed transactions. Crook County farm listings also dropped by two, now at eleven, with no pending or closed transactions.

 

 

It's not surprising to see increased sales volume this fall, given the current market conditions. The strong activity between $1 million and $2 million is impressive, along with what is sure to be a record-setting year over $3 million. With several weeks left in the last busy period before the holidays begin, it will be interesting to see how this year shapes up. 

 

Reed

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