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.
>Happy Fourth of July! Last night, in Central Oregon, we were treated to thunder, lightning, and rain, which should cool things down and make for a pleasant and temperate long weekend. I hope you have time planned with family and friends, filled with enjoyable activities. I am available and working, so please don't hesitate to reach out if you need anything.
I wrote on Wednesday about a decline or flattening in our housing inventory in the broader market, and that is also showing in the high-end. Whether housing supply increases after the holiday lull will be very telling for the remainder of the selling season. My educated guess is that supply levels will begin to taper after a robust early season of new listings. The perception of fewer available homes should work in favor of sellers coming to market in the latter half of the year with unique, desirable properties.
Homes for sale in Deschutes County between $1 million and $2 million decreased by eight to 428 listings. A subdued thirteen pending sales for the week is likely attributed to the holiday. However, it was a very active week, with 20 closed sales and a median days-on-list of 35. The average price per square foot for the closed sales was $522.
Deschutes County listings between $2 million and $3 million are flat this week at 109. Four pending sales are the most since May, with one closed transaction at $2,237,000, listed for $2.4 million. The sold price per square foot was $518.
Homes listed in Deschutes County for over $3 million decreased by one to 48 due to a single pending sale at $3,495,000 in North Rim on Awbrey Butte. There were no closed sales.
In Crook County, listings over $1 million are at 71, down three from last week. With no new listings, the decrease is attributed to one pending sale, just north of downtown Prineville, at $2,100,000, and two pending sales in West Powell Butte Estates, at $1,575,000 and $1,950,000.
In the farm listings in Central Oregon, there were no sales or pending sales in Deschutes County, with inventory flat at fourteen. Crook County had one pending sale at $1,335,000, which brought the total active inventory down to eleven.
By the second week of July, the market will pick up steam with the next holiday break in the action at Labor Day. This year started at a pace above that of 2024, and has since slowed, particularly in homes listed under $1 million. The high-end market has outperformed the broader market, and the busiest time of year for the luxury market is just beginning. I have analyzed some of the most incredible large-acreage properties in our region this year, and I would be happy to utilize my expertise to help you achieve your goals, wherever in Central Oregon you may be interested.
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.
Activity was steady again this week, while inventory levels remained flat or declined across Central Oregon. With the Fourth of July on Friday and a long weekend ahead, it is not surprising that some sellers may have pulled back until after the holiday break. The interesting thing to watch will be whether inventory growth continues once activity picks up after the holiday, or if it continues to decline. A flattening or decline would be a relatively early transition to fewer listings compared to past years. However, very little about our housing market has been following typical trends lately.
The Deschutes County inventory of single-family homes this week remains unchanged at 1,543. Pending sales also remain unchanged from the previous week at 80, with an average list price of $936,677 and an average reduction before finding a buyer of -7.37%. Thirty-two more homes closed this week than the previous week for a total of 96 sales at an average of $810,126, and an average reduction below the list price of -5.56%. There were 1,606 single-family sales year-to-date in 2024 in Deschutes County compared to 1,611 this year. The average sale price increased from $850,422 to $870,798, while the median sale price decreased $1,135.
Crook County inventory decreased by three to 236 single-family listings. After a slow previous week, pending sales jumped seven to nine with an average list price of $729,311, and an average price reduction before securing a buyer of -6.67%. Closed transactions increased by four to twelve, with an average price of $665,900 and an average price reduction of 3.38%. Year-to-date sales in 2024 were202, compared to 182 this year. The average sale price increased from $539,619 to $587,813, while the median sale price decreased from $464,997 to $434,900.
Jefferson County inventory this week is 121, a decrease of one from the previous week. One more pending sale than last week brings this week's total to five, with an average sale price of $346,760, and an average price reduction of -12.88%. There were four closed transactions, with an average price of $480,975 and an average price reduction of 18.24%. The price reduction percentages are striking, attributable to two pending sales: one dropping the list price from $600k to $540k, and another from $300k to $225k. One closed sale had an original list price of $795,000, wasdropped to $650,000, and ultimately closed at $550,000. The further from the core of Central Oregon, the more the market is impacted by increased inventory and competition, even though these dynamics are in play throughout much of the market below $1 million. Year-to-date sales in Jefferson County increased by sixteen to 130, while the average sale price decreased from $466,192 to $447,883, and the median sold price decreased from $432,250 to $402,450.
In last week's Luxury Market Report, I compared the year-to-date sales between properties sold above and below $1 million. There is a clear difference as the high-end market has increased sales and rising prices, while homes under $1 million are moving in the opposite direction. In the data above, the rising average sale price in Deschutes and Crook Counties indicates that more expensive homes are selling. In contrast, the decreasing median sale price suggests that a greater number of homes are selling at lower price points. In Jefferson County, the increase in lower-priced sales and lack of high-end inventory have brought both numbers down. The increase in inventory is arguably a positive development for the market as a whole. It has created a very slight buyer's market, helping to offset the impacts of interest rates stuck near seven percent. However, the national average for a 30-year fixed-rate mortgage this morning sits at 6.67%, the lowest since October 2024. With pending sales activity remaining steady, inventory growth closing in on the seasonal peak, and mortgage rates decreasing, I anticipate steady activity once buyers re-engage the market in earnest after the Fourth of July lull.
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.
If you have been reading my Wednesday and Friday reports, you may have gathered that the high-end market is outperforming the market below $1 million, and if so, you are correct. At the end of this report, I will show the YTD changes in Crook and Deschutes Counties. But first, the weekly numbers.
The Deschutes County inventory, between $1 million and $2 million, increased by four to 436 single-family listings. Seventeen pending sales remain unchanged from last week, with a median listing day of 41 and an average price reduction before securing a contract of -3.8%. Sales also mirrored those of last week, with six at a median of only 11 days on the market. Two of the sales negotiated a lower-than-list price, averaging -10.29%.
Inventory between $2 million and $3 million also increased by four, now at 109 listings. One pending sale occurred at $2,995,000 on the River in Bend, with no price reduction before securing a contract. There were two sales at $2,050,000 and $2,250,000, with one price reduction from the list of -2.06%.
Inventory over $3 million remains at 49, with one pending sale at $3,195,000 in the North Course Estates of Sunriver. There were no sales over $3 million this week.
There is one more listing for farm properties in Deschutes County, bringing the total to 14, with no pending or closed transactions.
In Crook County, theinventory of homes over $1 million decreased by two, now at seventy-three. There were no pending sales and one closed transaction at $1,100,000. The closed transaction is on the far western edge of Crook County and has a Bend address. A Bend address in Crook County is a rarity and an interesting quirk of the county boundaries.
Crook County farm listings over $1 million remain at 12 with no pending or closed transactions this week.
I have mentioned many times that the Fourth of July can be slow, particularly in the high-end markets. Except for the $1 million to $2 million range, this week's data shows very little activity. However, the year-to-date sales in the high-end market are steady.
In Deschutes County YTD 2024, there were 1,492 sales below $1 million, with a median sale price of $600,000. As of year-to-date 2025, there have been 1,458 sales at a median price of $595,000, representing a 2.28% decrease in sales volume and a 0.83% decrease in price. Sales over $1 million in 2024 totaled 364, at a median sale price of $1,350,000, compared to 383 and $1,425,000 year-to-date 2025. That is a 5.21% increase in sales volume and a 5.55% increase in the median sale price. Neither of these swings is extreme, but they are the beginning of a trend I expect to continue through the remainder of the year.
Crook County mimics the price differential trend of Deschutes County, with some variation. Year-to-date, in 2024, there were 208 sales under $1 million, with a median sales price of $431,000. In contrast, 182 sales have occurred so far in 2025, with a median sales price of $417,900. That represents a 12.5% decrease in sales volume and a 3.04% decrease in sales price. Competition in the lower price points, combined with higher mortgage interest rates, has undoubtedly contributed to the decline in the median sale price. There were 20 sales over $1 million in 2024, with a median sale price of $1,453,250, compared to 17 sales at a median price of $1,500,000. The 2025 date reveals a 15% drop in sales volume and a 3.22% rise in the median sale price.
Below $1 million in both Crook and Deschutes Counties has become an extremely competitive landscape, with a large percentage of buyers plagued by affordability issues with stubbornly high mortgage rates. In the luxury market, where cash deals are more common, especially at higher price points, prices are rising in tandem with demand. The volume of listings over $5 million has increased significantly, providing luxury buyers with more selection than usual. However, there is not enough inventory in the mix of extraordinarily diverse and unique luxury properties to tamp down prices. The availability of numerous excellent properties has increased activity, as buyers are having an easier time finding what they want in Central Oregon.
I often hear sweeping generalizations about the market being up or down, but there is never a simple answer. Evaluating properties in the luxury market requires a more in-depth analysis, which I conduct frequently. Whether you are buying, selling, or just curious about the price your property might command in today's market, please reach out if you need individually focused research. I have a few ready-to-go market analyses of Central Oregon luxury markets that I would be happy to share.
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.
This morning, the national average for a 30-year fixed-rate conventional mortgage is 6.82%, the lowest since early May.For reference, on January 6, 2025, the 30-year average was 7.16%. Thirty-four basis points may not be a massive decrease, but every little bit helps, and the markets respond with more activity as rates fall below seven percent. The consumer confidence index fell to 93.0 in June from 98.4 in May. If the trend continues, it may provide Jerome Powell with enough indication of a softening labor market to fulfill his promise of two Fed Fund Rate decreases in 2025. As inventory growth in Central Oregon slows, if mortgage rates approach 6.5%, I anticipate robust sales to close out 2025. As last week's data showed, the gap in sales volume has closed this year, with identical numbers in Deschutes County for 2024 and 2025 year-to-date. A lot can happen between now and the next FOMC meeting, so stay tuned for the market trends.
Deschutes County added ten new single-family home listings to its inventory this week, bringing the total to 1,543. The median list price is $844,500, with an average of $1,145,488. Pending sales remain consistent at 80 for the week at a median of $744,450 and an average of $899,498. While the median days listed increased to 29 for pending sales, considering the slower inventory growth, it isn't surprising, as buyers begin to consider homes listed for longer periods. However, the 64 closed transactions this week show a median list time of 19 days, a median closed price of $704,500, and an average of $782,843. The average price reduction from the list price for the closed transactions was -4.35%. The average closed price per square foot for the week was $381, compared to the year-to-date average of $673.This week's median price per square foot was $341, which compares more closely to the YTD median of $370. The discrepancy between the weekly and YTD closed price per square foot shows how much variation there can be in the weekly numbers.
Crook County's inventory increased to 239, a rise of eight single-family homes from last week. The median list price is $685,000, with an average of $1,045,990. There were only two pending sales this week at $425,000 and $550,000, with neither property decreasing the list price before securing a contract. Eight transactions closed at a median of $430,250 and averaged $545,300. Four of the eight closed transactions reduced the price by an average of -3.54%.The average closed price per square foot for the week was $352, compared to the year-to-date average of $314.
In Jefferson County, the inventory of single-family homes increased by four to 122 listings. The median list price of the active inventory is $499,900, with an average of $614,044. Four pending sales have a median price of $462,000 and an average price of $499,750, with three of those pending sales reducing the price by an average of 13.42%. The price reductions to secure a contract for these three properties were significant: the first dropped the list price to $650,000 from $795,000, the second to $479,000 from $525,000, and the last to $425,000 from $489,900. Seven transactions closed this week, with a median price of $516,000 and an average price of $629,714. The average closed price per square foot for the week was $288, compared to the year-to-date average of $267.
The weekly numbers vary significantly based on the mix of homes placed under contract and those that have closed. Deschutes County's substantially lower price per square foot this week is an anomaly that does not indicate a broader trend. The average weekly closed price per square foot has been over $400 for 19 of the 27 weeks of the year to date. Last week's data showed that closed prices had returned to the trend line at this point in 2024, after beginning 2025 with gains over the previous year. Activity typically slows during the Fourth of July holiday, but this week shows steady activity. With inventory growth slowing considerably and mortgage rates softening slightly, we appear poised for steady activity through the remainder of the summer. For smaller markets, such as Jefferson County or properties in outlying areas with intense competition, price is a significant factor in determining whether offers come in for sellers.
Tune in Friday for the Central Oregon Luxury Market Report to see how the high-end housing market is performing compared to the broader market. I will provide a breakdown, stripping out homes in Deschutes and Crook Counties that exceed $1M, to show precisely how the segments above and below this price point behave. Still, there is considerable value in reporting trends across all price points, which I will continue to do here every Wednesday.
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.
This morning, in Deschutes County, there are 432 single-family homes listed between $1 million and $2 million, down two from last week. It is too early to call peak inventory for the year, but a decrease this week indicates a slowing as we head into the busy July Fourth to Labor Day timeframe. Seventeen pending sales are in line with recent activity, with a median days-on-market of just ten. As new listings slow heading into the remainder of the year, the median days on the market for pending sales will increase as buyers begin to evaluate and move on properties that have been on the market for a while. For many of these properties, a price drop or negotiations will be necessary to secure a contract. There were six closed transactions this week with a median list time of 54 days and just two price reductions, averaging 7.2%.
Inventory between $2 million and $3 million in Deschutes County increased by four to 105.One pending sale, listed for 64 days at $2.2 million, and two closed sales, at $2,495,000 and $2.5 million, occurred in this price range. Typically, our peak inventory occurs in early August, and a slowdown, given yesterday's holiday and the Fourth of July just around the corner, isn't surprising. I expect some fluctuations in inventory over the next several weeks as we transition into the fall season.
There are 49 listings in Deschutes County with a price over $3 million, down one from last week. One pending sale in Sisters, at $5,450,000, occurred after only 18 days on the market, with no closed transactions this week.
Crook County's inventory of over $1 million increased by one to 75 single-family listings. There were no pending or closed transactions.
Deschutes County Farm listings over $1 million increased by one to thirteen, with no pending or closed transactions. Crook County farm listings over $1 million remain at twelve with no pending or closed transactions.
We are far from a backward slide in the high-end markets. In Deschutes County YTD 2024, for properties priced over $1 million, there were 326 sales at a median of $1,350,000 compared to 354 at $1,450,000 YTD 2025. In Crook County YTD 2024, for properties priced over $1 million, there were 20 sales at a median of $1,453,250 compared to 16 at $1,525,000 YTD 2025. Smaller Crook County has the large majority of the high-end sales clustered around Powell Butte and Brasada Ranch, so the variation in sales volume is understandable. Still, prices are firm or escalating. In Deschutes County, sales volume and price continue the upward trajectory of the last several years. Those of you reading my Wednesday report may recall that the median sale price in Deschutes County, across all price points, is flat year-to-date (YTD) 2025 compared to 2024 and down 6.15% in Crook County. The luxury markets in Central Oregon continue to outperform the broader market, with no end to that trend in sight.
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.
With the Federal Reserve wrapping up the latest meeting today, the chances of any rate cuts are zero. Last year, the Fed made an aggressive 50-basis-point decrease in September, followed by 25-basis-point reductions in November and December, while telegraphing two more cuts in 2025. With today's news likely to maintain the status quo, any future decrease is unlikely to occur before the end of July at the earliest. However, any decrease in 2025 appears to be more of a long shot. The average 30-year fixed-rate conventional mortgage this morning is 6.88%, in line with rates tracked over the past several weeks.
This morning in Deschutes County, there are 1,533 single-family houses listed for sale, an increase of 41 from last week. The average list price is $1,144,381, with 794 listings reducing the asking price by an average of $5.25%. Eighty-two pending sales are one shy of the highest pending sale volume of the year, which occurred on March 5. The median number of days listed for pending sales this week was 19, one of the lowest weekly numbers reported this year. Sixty-two closed transactions at a median days listed of 18 and an average sale price of $820,144, with just 16 of those transactions negotiating below the list price by an average of -3.14%.
Interestingly, the year-to-date sales in Deschutes County for 2025 are identical to those as of this day in 2024, at 1,433. The median sale price for Deschutes County so far this year is $697,315, up .33% from last year's number.
Crook County inventory increased by one to 231 listings, averaging $1,077,407. There were twelve pending sales, with a median listing days of 62 and an average price of $533,410. Four closed transactions, with an average closing price of $945,000, occurred during the week, with just one price reduction.
Crook County's year-to-date sales for 2024 were 186, with a median sale price of $463,495. This year, sales have decreased to 159, with a median sale price of $435,000, representing a 6.15% decrease.
Jefferson County inventory decreased by four to 118 single-family homes, with an average price of $620,407. Seven sales are pending, averaging $452,621, with four of those transactions resulting in a list price reduction of an average of 8.89%. Six closed transactions averaged $429,300, with three price reductions averaging a decrease of 13.28% for the week.
Jefferson County's year-to-date sales for 2024 were 95, with a median sale price of $437,573, compared to 114 sales this year at a median of $398,500, representing an 8.93% decline in the median sale price.
There is a lot of nuance to the data that is specific to each county and individual price points. In all counties, the increase in inventory below the median sale price has created competition among sellers and put pressure on prices. For Crook and Jefferson Counties, prices, in general, are down slightly from the peak of 2022. For Deschutes County, the trend remains flat, with very slight increases in many market segments since 2022. As is always the case, these market trends do not apply equally to every property. Regardless of the individual situation, pricing correctly for today's market is crucial, as overpriced homes tend to linger. In many cases, the reduction necessary to generate interest after initially overpricing is greater than correct pricing from the start.
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.
Inventory growth across all price points slowed this week, and that trend is also evident in the luxury market. As expected, the $1M to $2M range experienced the most inventory growth, with only a handful of listings added over $2M in Deschutes County. Crook County's inventory of over $1M increased by three from last week. As I have mentioned in past reports, the time around the Fourth of July can be relatively slow, with activity ramping up through the end of September. Not only is the slowing of inventory seasonal, but it alsomarks the beginning of the busiest time of year, as buyers start to focus on what is currently on the market and what suits their needs. Of course, the seasonal slowdown in new listings isn't simply shutting off the faucet; new listings will continue to trickle in through the remainder of the year, and attractive properties listed in July and August can still potentially sell by year-end.
Inventory of Deschutes County single-family homes between $1M and $2M increased 17 this week to 434. Two hundred-fourteen of the active listings reduced the asking price by an average of 6.19%. Eighteen pending sales occurred this week, with eleven of those transactions reducing the list price by an average of 6.08% before going under contract. Nine transactions closed at a median of twelve days listed. The gap in year-to-date (YTD) sales over 2024 is narrowing but still ahead of last year's pace, with 284 sales so far this year compared to 258 by this date in 2024.
There are 101 homes listed between $2 million and $3 million in Deschutes County, up four from last week. Thirty-seven of those listings have reduced the original asking price by an average of 5.96%. Two pending sales occurred this week, with one listed for only five days and the other for eleven days before securing a contract. One property closed at $2,875,000 after just three days on the market. Buyers are extremely knowledgeable about the available inventory. At this time of year, when great listings hit the market, it is not uncommon to see single-digit listing days before securing a contract. Year-to-date 2025, in this price tranche, there have been 42 sales, compared to 39 on the same date last year.
The inventory over $3 million in Deschutes County remains flat this week at 50. Two pending sales occurred, with one listed for seventeen days and another for 341 days. One pending property, listed for just under $4M, is located in North Rim on Awbrey Butte, and the other, for $4.5M, is on Collins Road in Tumalo.There was one closed transaction this week at $3,795,000 listed for only five days. As of year-to-date 2025, there have been 19 sales, compared to 11 on this date last year.
There are 74 listings over $1M in Crook County this week, up three from last week. One pending sale at $1,400,000 in the desirable Grandview Community near the entrance to Juniper Canyon occurred for 4.48% over the original list price. One property in Brasada Ranch closed at $1,550,000, listed for just nine days. Year-to-date sales in Crook County, exceeding $1 million, have declined this year, down to 16 compared to 19 last year. With most of the higher-end sales in Crook County occurring at Brasada Ranch and near Powell Butte, there is limited inventory available, and the decline in sales is not surprising.
This week, I began tracking Farm properties over $1 million in Deschutes and Crook Counties. There are twelve of these listings in each county with no pending or closed sales. In Deschutes County, the selection ranges from 17 acres to 7,284 acres. In Crook County, the range of active listings is 40 to 4,457 acres. There are some excellent properties in this category, but many are listed as both single-family homes and farm properties, which makes the data murky. Some of these properties are straightforward in terms of management and maintenance, while others require significant outside assistance. If you are looking for an acreage property, be sure not to miss the farm inventory, which can sometimes be less prominent in MLS searches.
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.
A common misconception in the Central Oregon Housing Market is that activity around July Fourth is the busiest time of year. In reality, the summer doldrums are a genuine phenomenon, and the late spring to early summer and mid-July through Labor Day typically see more vigorous activity. This week, the pending activity is consistent, but the pace of new listings decreased. New listings hit the market throughout the year, typically peaking sometime in August before the seasonal decline. As reported over the past several weeks, inventory levels are up across all three Central Oregon counties. It will be telling for the late summer to early fall market to note when we reach peak inventory this year. The variation in our market week to week can be an indicator of future trends, but today, the market remains steady and consistent.
Inventory in Deschutes County this morning increased by twenty-six to 1,492 single-family listings. Seventy-nine pending sales, at an average of $940,517, and just 26 days listed before securing a buyer show continued strong demand. The forty-seven sales recorded this week averaged $878,334 and just 24 days listed before securing a contract. Next week, we will surpass 1,500 listings for the first time in several years in Deschutes County, which has created some competition in the market that is helping buyers with price and selection. Still, well-priced, desirable homes are moving quickly.
Crook County inventory increased by five to 230 single-family listings. Activity for pending sales was strong, with fourteen listingsaveraging $512,643 and a median days-on-market of 58. There were eight closed transactions with a median of just seventeen days, averaging nearly the same as the pending sales at $512,750. Notably, the more expensive sales in Brasada Ranch and Powell Butte have been absent in the past couple of weeks.
Smaller Jefferson County has more subdued week-to-week changes in the data, and as such, the inventory increased just two, with 122 single-family listings available. Three pending sales at a median day listed of 61, averaging $343,300, with a notable median price reduction of 16.67% this week. The significant price drop is due to price decreases made before securing a buyer. For example, one home initially started at $539,990 and subsequently dropped to $450,000, while another initially started at $300,000 and subsequently dropped to $225,000. There were four pending sales, with an average price of $373,100 and a median listing time of just 23 days. The median price reduction for closed transactions was only 1.18%, demonstrating that accurate pricing is crucial in today's market.
With over 400 more listings of single-family homes in Deschutes County compared to this time last year, 93 more in Crook County, and 22 more in Jefferson County, there is no question that buyers have more options. While the increased inventory may not be dragging down the median sale price for the year, the increased competition in many price points is helping to keep prices from rapidly accelerating. Mortgage rates near 7% also help, especially for homes listed below the median sale price. With such a wide range of variation across Central Oregon, a thorough understanding of the market is essential for making informed decisions as a buyer or seller. Pricing too high keeps homes lingering, and no buyer wants to overpay. In addition to these reports, I am creating several personalized market analyses for clients each week. Please reach out if you need a customized report for a specific part of Central Oregon.
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.
While the year-over-year numbers remain positive, activity in the high-end market over the past couple of weeks has slowed.With new inventory continually adding to the selection of homes, it's no surprise that buyers are taking a step back to evaluate their options before committing to a property. None of the dynamics driving the luxury market have substantially changed, and considering the volatility in our political and financial markets, a pause to evaluate the landscape isn't unexpected.
I am sending today's report to everyone who usually receives my Wednesday Market Report. The information in the luxury market can be a canary in the coal mine for the overall market, and many of you reading my Wednesday report are looking at properties exceeding $ 1 million. Please sign up for this report to track all aspects of our market.
In Deschutes County, between $1M and $2M, there are now 417 single-family listings, up sixteen from last week.Twelve pending sales with a mediandays on the marketof 28 and an average list price of $1,430,083 occurred this week.Of course, a narrow price tranche will have the average number near the midpoint, but the median in this range is slightly lower at $1,417,500. There are numerousgreatproperties available for under $1.5M, which are among the best values in Central Oregon.Proof that pending sales are closing shows in the extremely robust 24 closed transactions this week. The large number of sales below the midpoint is evident in the median closed price of $1,232,500. The closed transactions hada median dayslisted of just 26.
Inventory in the $2M to $3M range declined this week to 97, down four from last week.There were no pending sales and one closed transaction at $2,730,000 in Tetherow on Hardin Martin Court. The Tetherow sale is listed for $2,975,000 and marketed for 67 days.
Properties in Deschutes County listed for over $3 million increased to 50 this week, up three from last week.There were no pending or closed transactions for the week. I attribute some of this to the aggressive pricing of many of these properties.There is no doubt that luxury buyers are willing to pay for trophy locations and truly spectacular properties. However, some of the prices I see in this segment today are difficult to justify and lack direct comparables to help establish value.Iam conductingmarket analyses for various properties in this segment on behalf of clients and have reports I can share if this interests you.A lot goes into evaluating the premier properties in our region, and I wonder how much analysis has gone into pricing some of this inventory and how much is wishful thinking. The diversity between these properties is incredible, and finding the right buyer takes time.There is no doubt that several of the homes listed for over $3 million will sell this year, and our year-to-date activity in this segment is robust.
Crook County's inventoryover$1 million remains unchanged at 71. One pending sale on Willard Road with a Bend address occurred at $1,285,000 andlistedfor 51 days.This pending transaction on Willard Road is an anomaly, as Crook County properties typically have a Powell Butte or Prineville address. Located just past Alfalfa, the Willard property is just over the Crook County boundary.There were no closed transactions in Crook County this week over $1 million.
It is still too early to call the subdued activity in much of the luxury market a trend.While the summer is the busiest time of year for Central Oregon real estate across all price points, we also typically experience a lullaround the Fourth of July. One thing 2025 has shown is that buyers are willing to move quickly on good deals and excellent properties, but they are also price-sensitive. With growing inventory across the market, it is essential that positioning relative to similar properties is competitive and attractive.There can be some guesswork in pricing the high-end, but I always back up my analysis with a heavily data-driven approach.Whether you are considering selling, looking for a legacy property, or simply interested in seeing what your property might sell for, I am available to run a detailed analysis at any time. I will also provide large-format maps indicating property boundaries as part of my analysis. Contact me for your personalized report!
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As you will see in the data below, the three counties of Central Oregon are behaving quite differently. However, the overall dynamic of higher inventory levels over the last year is consistent to varying degrees throughout the region, with prices remaining relatively stable.Deschutes and Jefferson County are keeping ahead of last year's sales pace, while Crook County has fallen behind. Mortgage rates remain essentially unchanged. I could point to several factors affecting the overall economy to explain why our market is behaving the way it is. Still, the reality is a complex blend of many factors. Central Oregon continues to grow, and the influx of new residents is helping to maintain a relatively stable housing market. As I have pointed out for several months, accurately pricing homes relative to their market position is a key factor.
Deschutes is the largest County in Central Oregon, with a population of just over 200,000.The county's population provides the largest data pool for housing, encompassing Bend, located in the heart of the region, as well as Redmond, Sisters, Terrebonne, and La Pine. Idyllic Camp Sherman and the resorts of Black Butte, Sunriver, Caldera Springs, Crosswater, Tetherow, and Eagle Crest are all in Deschutes County. As you can imagine, there are numerous individual differences between these communities, and the broad county data glosses over many of the trends unique to these smaller regions. Over the next several weeks, I will break down some of the community trends; however, this morning, I will focus on the county trends.
This morning in Deschutes County, there are 1,466 single-family listings, up forty-three from last week.Sixty-seven pending sales represent a decrease from the past few weeks, with the average pending sale at $858,349 and the median number of days listed at forty-three. There were Eighty-five closed transactions at an average of $865,997 and a median of nineteen days listed. For comparison, on this week last year, there were 1,026 listings with 87 pending sales averaging $987,900 anda median days-on-market of 16.
YTD 2024, there were 1,283 sales in Deschutes County, averaging $838,402 and a median of 26 days listed. As of year-to-date 2025, there have been 1,309 sales, averaging $883,953, with a median number of days on the market of 35.With inventory increasing so dramatically from last year, it is expected that the numbers and overall dynamics will change. How much the trends adjust to higher inventory over the next few months will be something to watch closely.
Crook County inventory this week is up five to 225 single-family listings. Twelve pending sales, averaging $564,583, and with just eleven median days on the market, indicate solid activity for the week. Six closed transactions, averaging $445,000 and with a median listing time of ten days, are indicative of a healthy market.On thisweeklastyearthere were 130 listings, with nine pending sales averaging $548,999 and a median days on the market of 23.There were seven closed transactions, averaging $669,971, with a median listing duration of 31 days.
As of YTD 2024, there were 158 sales in Crook County, averaging $583,667 and a median listing time of 40 days. As ofYTD 2025, there have been 144 sales, averaging $582,106, with a median days-on-market of 51.While sales are down slightly, the data does not indicate a market collapse. However, there appears to be a tempering of activity, which could be due to several factors in the economy. Crook County's inventory may be up significantly from last year, but it is still small enough to keep market conditions stable.
There are 120 single-family listings in Jefferson County this morning, down three from last week.Six pending sales, averaging $459,867 and 71 days listed, are in line with the past several weeks,with eight closed transactions, averaging $438,637, listed 49 days before securing a contract. Last week of the same year, there were 102 single-family listings, with four pending sales averaging $548,999 and 18 days on the market. Seven closed transactions, averaging $669,971 and twelve days listed, round out the numbers from this week last year.
YTD2024, there were 84 sales in Jefferson County, averaging $481,925, with a median listing time of 51 days. YTD 2025, there have been 103 sales, averaging $432,577, with a median days-on-market of 63.
Weekly variations in price and days listed are highly subject to the mix of properties going under contract and selling. In the smaller counties of Jefferson and Crook, these variations can be extreme. The YTD numbers provide more insight into how the market is behaving.In economics, there are no straight lines, and that typically holds for housing. The remarkably stable housing market this year is more of an anomaly than an expectation. Given the volatile conditions in global economics, the bond and equity markets, and higher mortgage interest rates, it is reasonable to expect some turbulence as we enter the peak summer season. However, the market is still healthy, and opportunities abound.
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.
