My Weekly Central Oregon Real Estate Blog

As expected for the season, the inventory of homes for sale throughout Central Oregon is rising, and activity is beginning to increase. The mortgage markets are volatile, with the chaos in the stock and bond markets mainly attributable to the crazy tariff wars. The volatility helped mortgage rates last week but has turned a corner, with the 30-year fixed-rate mortgage at 6.85%, the highest since late February. However, mortgage rates are near the average of the last two years, so in the bigger picture, not much has changed.

Deschutes County inventory increased by sixteen to 1,024 single-family listings. Seventy-eight pending sales are the most since a spike in early March, with a median days listed of only twenty-seven and an average price of $864,786.Fifty-six properties closed after only twenty-one days on the market, at an average price of $903,703. Days listed have increased slightly since 2022, when the pending sales were only five, nineteen this week in 2023, and twenty last year. Only three weeks of listing time before finding a buyer is notably quick and a strong indicator of strength in the housing market.

This morning, 170 single-family homes are listed in Crook County, an increase of eight since last Wednesday. Six pending sales were listed for only seventeen days, with an average sale of $816,150 for the previous seven days, which is a reasonable volume and quick pace—four closed transactions at an average of $792,249 round out the week's activity. Two of the four closed transactions were in Powell Butte, with one of those sales in Brasada Ranch. The two closings in Prineville sold for $499,999 and $315,000. 

Jefferson County inventory increased by nine to 116 listings. The average price of the actively listed homes is $573,575. Nine pending sales, at an average of $422,822, show buyers are engaging the market and stepping up. Two sales closed at $540,000 and $1,200,000. 

With marketing times of less than thirty days through much of Central Oregon, homes that are attractive to buyers are moving quickly. There will always be homes that linger, but for educated buyers waiting for better options, jumping on the right fit is imperative. Making the right decision is easier if you know the market; these reports can help identify trends. However, there is no replacement for seeing properties in person to learn which option is best for you. In most cases, it takes time for buyers to tour homes over an extended period to find the perfect fit. If you want to start learning about the Central Oregon housing market, please contact me to schedule a tour.

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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.

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Inventory in the luxury market is slowly inching up while mortgage rates are falling. This morning, the 30-year Jumbo mortgage national average was 6.8%, down from 7% just a few days ago. With sales only outpaced by blockbuster 2022 activity, 2025 is shaping to be a strong year for the Central Oregon luxury market. With fantastic weather on tap for the weekend, buyers should be out in force touring homes before another week of intermittent rain. The days are noticeably longer, and warmer weather is approaching. Buyers should be touring homes today to learn the market and gain the necessary knowledge to identify the great deals when they hit, with sellers finalizing plans to market and list their homes for maximum exposure. Peak season is nearly here!

This morning, there are 276 single-family homes listed between $1,000,000 and $1,999,999, an increase of eight since last Friday. Sixteen pending transactions marketed for a median of only 21 days continue the trend of attractive homes selling fast in this competitive price range—fourteen closed transactions with a sold price-to-list ratio of 98.18%. Only four sellers decreased the asking price before securing a buyer for the pending transactions, with four closed transactions negotiating a lower price than the asking price. The ratios of price reductions in this tranche are much lower than the overall market, showing that prices are firm. The average sale price per square foot was $532.

There were eight more listings in the $2,000,000 to $2,999,999 range than last Friday, bringing the total to 81 single-family homes. One pending sale at $2,399,900 reduced the asking price by 6.98% before finding a buyer and 263 days listed. Two homes closed, one in Bend at $2,600,000 and the other in Black Butte Ranch at $2,450,000. The Bend home closed at $99,999 less than the asking price, and the Black Butte Ranch home closed for $75,000 less than the list price. The sale price per square foot was $617 and $629, respectively.

Listings above $3M are holding steady, with 31 this morning. Over the last five weeks, the low was 29, and the high was 32. New listings are sure to come as the weather improves over the coming weeks. One of the latest listings this week is my Mountain View Road listing, linked below. One sale is pending this week at $3,400,000 after 45 days on the market and no price reductions before securing a contract. Three homes closed, the first at $3,280,000 on the river near Drake Park for $119,00 under the list price, the second in Tetherow for $3,500,000, $200k under the list price, and $300k more than the last sale in June 2023, and the final, new construction in Tetherow, for $3,650,000, $225k under the list price. 

Crook County inventory has been flat since last week, with 48 single-family listings over $1M. No pending sales registered this week, and one closed in Brasada Ranch for $1,415,000, listed for $1,508,900. The Brasada Ranch sale was a cash deal.

It would be easy to look at the price reductions of the closed transactions and surmise that prices are softening. However, pricing truly spectacular properties in our diverse market is always challenging. The sold prices reflect continued price appreciation despite the reductions. Interestingly, seven of the fourteen sales between $1M and $2M were cash transactions, and all five of the sales over $2M. Falling Jumbo mortgage rates help buyers who want to limit the opportunity cost of an all-cash transaction, but most in the luxury market are not using financing. Unsurprisingly, these buyers use leverage to negotiate below the asking price. The next several weeks will reveal much about how the luxury market unfolds for the summer season. 

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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.

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This morning, the national average for a 30-year fixed-rate conventional mortgage is 6.71%, the lowest since September 23, 2024. Activity has also picked up, coinciding with increased inventory across all three Central Oregon counties, longer days, and (somewhat) nicer weather. There will always be opportunities in real estate, but as we approach peak season, houses start selling quicker, and buyers start re-engaging the market, creating competition. While there may be some uncertainty about the broader economy, declining mortgage rates spur activity and help keep prices firm. 

This morning, 1,008 single-family homes are listed in Deschutes County. Breaking the 1,000-listing threshold did not happen last year until May 29, when there were 1,018 listings, and it hasn't been this high since November 27, 2024, when there were 1,019 listings. Activity remains steady with 66 pending sales at a median days-listed of just 30. Seventy-five closed transactions have been the most since October 2, 2024, with median days listed at just 25 and an average sale price of $980,034. The increase in listings creates more opportunities for buyers, but attractive, well-priced properties are moving fast. 

Inventory in Crook County also increased, now at 162 single-family listings, up three from the previous week. Thirteen pending sales at an average list price of $524,419, with four closed transactions averaging $767,500, are consistent with the last several weeks. The single closed sale in Brasada Ranch went for $1,415,000, double the price of the following most expensive sale for the week, dragging the average up considerably. The remaining three sales were $750k, $525k, and $380k. The pending sales median list days were 57 and 102 for the closed transactions. 

Jefferson County inventory also increased by three, now at 107 single-family listings. Five pending sales this week, at an average of $513,780, and four closed transactions, at $578,000, are consistent with the volumes of the past several weeks. The median list days for pending sales were 178 and 86 for the closed transactions.

Staying knowledgeable is imperative for buyers as the market picks up through summer. Sales occur quicker, and sellers with multiple showings are less inclined to enter drawn-out negotiation phases. I have already encountered multiple-offer situations this year, which can be challenging for buyers. With knowledge of the market, recognizing attractive properties becomes more manageable, as does making sense of prices. Most buyers in our market who have been looking for a while can relate to seeing homes they liked sell before they had a chance to make an offer. Putting in the time to learn our market will pay dividends when you are ready to make an offer.

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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.

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This morning, the $1M-$2M range of single-family homes in Deschutes County increased to 268 active listings, up twenty from last week. One hundred-four active listings have reduced the asking price by an average of -5.62%. Fifteen homes are pending sales, with median days listed only twelve. Nineteen properties closed last week, also listed only twelve days before securing a contract. In both the pending and closed transactions, six properties reduced the price. The pending price median reduction was -7.28%, and the closed was -8.08%. 

The negotiated price on any property is the difference between what a seller will accept and what a buyer will pay. Knowing the correct list price precisely is impossible, and there will always be some negotiation between buyers and sellers. However, buyers are jumping on attractive properties in the Central Oregon luxury market.

Inventory between $2M and $3M dropped one this week to seventy-three. Two sales are pending, and three transactions have closed. Both pending sales reduced the price before finding a buyer by an average of -4.61%, and one of the closed transactions reduced the price by -7.85%. 

The inventory dropped two above $3M, now at twenty-nine single-family listings. One sale in SE Bend, listed at $3,200,000, is pending after only three days. There were no closed transactions this week. I will have a new listing in this price category in Sisters by next week, and I look forward to sharing it. 

Inventory above $1M in Crook County increased by two, now at 48 listings. One home in Brasada Ranch is pending for $1,649,747, a reduction of -4.03% from the original list price. No transactions closed this week.

Activity this week was sporadic, with the notable metric being the extremely short marketing time for homes pending or closed above $1M. In 2024, the sales above $2M by quarter were Q1-24, Q2-36, Q3-29, and Q4-26. While we are shy of the end of Q1 2025, there have been twenty-seven closed transactions above $2M, three more than last year. Between $1M and $1,999,999 YTD, there have been 117 closed transactions, eight more than in Q1 2024. By all measures, the luxury market in Central Oregon is consistent and rising. 

Click here for the full report.

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.

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Stable is the best way I can describe the Central Oregon housing market today. This morning, the national average for a 30-year fixed-rate conventional mortgage is 6.8%, right where rates have been for a few weeks and down slightly from recent highs of 7.08%. There will always be noise in the trends with small, short-lived ups and downs, but the overall trends are remarkably stable, consistent with steady, higher mortgage rates. So far, 2025 is shaping to be incrementally more active than 2024, which was more active than 2023. Isolated market segments outperform, and unique, desirable properties move quickly. But the overall trends are consistent. 

In Deschutes County, inventory continues to grow, up forty from last week at 967. The median days listed for the active inventory are 51, and the average list price is $1,128,717. Fifty-nine pending sales, at a median of thirty-nine days listed and an average list price of $949,997, show steady activity relative to the last few weeks. Fifty-six closed transactions are a bump from recent weeks and only eighteen days listed before finding a buyer, with an average sale of $904,062. 

Bend is the largest city in Deschutes County, and unsurprisingly, most of the county's activity occurs there. This morning in Bend, there are 727 active listings with a median list time of 58 days and an average list price of $1,167,239. Thirty-seven pending sales in the last week, with a median list time of 61 days and an average list price of $1,017,038, track closely with Deschutes County activity in general. Forty closed transactions at a median day listed of 25 and an average sale price of $971,077 round out the week's data. 

Crook County inventory has decreased over the last couple of weeks after hitting a peak in mid-March. This morning, there are 159 single-family homes listed, down two from last week. This activity is consistent with the season and attributed to the spike of fourteen pending transactions over the previous seven days, the most since August 7, 2024. The median days listed for the pending sales was eighteen, and the average sale price was $397,518, with only two price changes before securing a contract. Three homes closed at an average of $448,600, just five median days listed, and one transaction closed over the asking price. There is no question the availability of homes well under $500k is helping drive sales in Crook County.

Jefferson County inventory also declined this week, at 104, a drop of two from last week. Six pending sales, at an average of $427,550 and 98 days listed, are the most weekly pending sales since mid-December. Two closed transactions, at an average of $344,000, one listed 10 days and the other 20, with no price reductions, show buyers recognize good deals when they see them and jump at the opportunity.

The broad data for Central Oregon shows a steady, stable market with firm pricing. However, drilling down to specific market segments reveals segments that outperform or underperform. My Luxury Market Reports, which I send on Fridays, help to cover activity above $1M, but even that analysis glosses over the intricacies of unique properties, locations, and pricing. Location, asking price, and broader appeal can only be evaluated individually. Tracking the trends is vitally important, but any detailed analysis requires in-person evaluation. Please reach out if you need help creating a strategy to buy or sell or if you need insight into the dynamics of any region of Central Oregon.

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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.

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There is little doubt that the last blast of wintry weather has impacted activity in the luxury market, as most of these properties have extensive exterior spaces that are difficult to asses in snow and rain. Still, buyers are moving quickly, particularly below $3M. The national average for a 30-year fixed-rate Jumbo loan has been flat over the last several days at 7% and down considerably from the most recent peak of 7.45% on February 12, 2025. 

Unsurprisingly, the most activity in the luxury market has been between $1M and $2M. There are 248 active listings in this price range, up 24 from last week. The median price reduction of the 94 homes that dropped the listing price was -4.3%. There have been eleven pending sales in the previous seven days, with a median days list of only ten and zero price changes. While pending sales are down five from last week, the short days listed and the lack of price reductions show strong buyer demand. Nine homes closed the previous week with only one price reduction from the list price. 

Six new listings between $2M and $2,999,999 show steady growth in this tranche. Only twenty-three active listings have reduced the asking price, considerably less than the overall market. Two pending sales at $2.8M and $2,995,000 with no price reductions prove buyers are stepping up, and sellers are getting their price. Three homes closed at $2M, $2,295,000, $2,950,000, and one sale over asking 1.49%. The three closings were listed only one day, two days, and the last before it hit the MLS with zero days listed. Sellers in the luxury market are experiencing robust buyer demand with correctly priced properties. 

The net number of listings above $3M remains at thirty-one, with another pending sale of $3,195,000 this week. In this price range, the active listing median days on the market is 121. This week's pending sale was listed for 208 days. No closed sales were recorded in Deschutes County in the previous seven days: Year-to-date, five sales above $3M outpace the four recorded in 2024. In 2023, only eighteen sales recorded above $3M, with thirty-seven in 2024. While it is too early to make predictions, all the data indicate robust activity in the high-end luxury market as 2025 unfolds.

Homes listed over $1M in Crook County dropped one this week to forty-six. One pending sale in West Powell Butte Estates, listed for $1,240,000 and only twelve days on the market before finding a buyer. The single closed transaction was in Brasada Ranch at $1,500,000 with a negotiated sale price -2.27% below the list price. 

For those of you reading my market report on Wednesday, which covers all of the activity in Central Oregon across all price points, it is obvious our luxury market is outperforming. The most exclusive listings in Central Oregon take more marketing time to find the right buyer, with properties between $1M and $3M selling quickly. An increase in inventory will also increase sales as the weather improves and buyer activity scales up for summer. With April just around the corner, now is a great time to start marketing your home for maximum exposure to potential buyers. However, sales in the luxury market typically increase in the late third quarter and early fourth quarter. Buyers usually spend the early summer evaluating inventory and checking new listings before deciding on the right property for them. 

Stale, inaccurate information floats around regarding market activity, and I regularly speak with buyers and sellers who don't have an accurate picture of the Central Oregon housing market. Stay tuned to this report for precise reporting specific to your needs, and please reach out anytime for a detailed analysis of your property. Trophy locations and homes in the most sought-after locations in Central Oregon require knowledge of our market, thorough analysis, and a realistic understanding of buyer activity today, and I have the tools and experience to provide the analysis and marketing necessary for any home in Central Oregon. 

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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.

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Although the weather in Central Oregon has recently felt wintery, spring is undeniably on its way. Mortgage interest rates have softened a bit, now at 6.79%, while activity has increased in Crook and Jefferson Counties and slowed to more average levels in Deschutes County for this time of year. The average price change for Active, Pending, and Sold properties is declining, as well as the days listed before securing a contract. New listings at this time of year benefit from seeing how prices impact sales, and homes priced correctly are selling fast. Quick sales are not even across the board, and inventory levels continue to climb, especially in Deschutes County, the largest region of Central Oregon. Let's take a closer county-by-county look at the activity last week.

The Deschutes County inventory of single-family homes climbed above 900 for the first time since December 11, 2024, at 927. While 411 of the actively listed properties have lowered the asking price, the median price reduction is modest -3.7%, typical of peak-season price changes. Fifty-nine pending sales decreased from the higher numbers in the first two weeks of March but were in line with the previous several weeks. However, the median days listed before securing a contract in the pending sales were only eleven, with an average sale price of $981,484. Forty-eight homes sold at twenty-two median days listed, and a median price decrease of only -1.68%. These numbers indicate knowledgeable buyers poised to jump on great homes at good prices. On March 20, 2024, there were only 623 active single-family listings in Deschutes County, and it wasn't until late May that levels surpassed 1,000. 

Crook County inventory decreased three this week, now at 161 listings. While the trend is moving towards more inventory on a seasonal basis, the county's levels are nowhere near as high as those in neighboring Deschutes County. Ten pending sales in the previous week, only twenty-one median days on the market, and a median price reduction of -1.8% indicate strong buyer activity. There were also ten closed transactions with seventy-four median days listed and a median price decrease of -2.27%. The inventory bottom in Crook County in 2024 occurred at the end of January at 102 and peaked on October 23 at 184. 

Jefferson County inventory increased four this week to 106, with two pending sales and five closed transactions. Of the pending sales, only one changed the price by -1.17% before securing a contract, while two of the five closed transactions accepted lower offers, averaging only -1.55%. The last time Jefferson County inventory was at this level was late November, with the peak at 120 on September 25 and the bottom on March 6 at 72.

Strategically, buyers and sellers will be well served in the housing market this year by paying particular attention to price. Well-priced homes are moving quickly, but even modestly overpriced properties are lingering. Aggressive price decreases to align properties with the market are securing contracts. With more inventory, buyers can compare and contrast options at a particular price, making some properties stand out as great deals. 

Be sure to check out my Luxury Market Report on Friday. There was solid activity this week between $1M and $2M and over $2M. Each market segment has different dynamics; market-specific data is vital to buyers and sellers in making good decisions. The Central Oregon housing market is stable, but for sellers in particular, price is essential to a timely sale.  

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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.

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It was a relatively slow week for much of the higher-end market in Central Oregon, which is not surprising since most of these properties are selling in the summer. Still, modest inventory growth is increasing supply, with some desirable properties finding a buyer just days after listing. Year-to-date sales for all price points covered in this report have outpaced 2023 and 2024, with the $2M to $3M range in Deschutes County bettering 2022 as well.

There are 224 single-family homes listed in Deschutes County between $1M and $2M, an increase of eight since last week. Sixteen pending sales are three more than last week, with nine closed transactions. The pending median days listed were only eight, with the days listed for closed transactions only seven. There is no question that buyers in this price range recognize good properties priced correctly and are wasting no time securing a contract. Year-to-date, in 2022, were 126 sales in this price range, with 65 in 2023, 80 in 2024, and 93 this year. Remember that in the first half of 2022, mortgage interest rates were still low, and many buyers were jumping on properties before the expected rate increases hit.

One more home is in inventory in Deschutes County in the $2M to $3M price range, for a total of sixty-eight. Four pending sales at a median of fifteen days listed again show buyers are wasting no time on properties that fit their needs. One home in SE Bend sold for $2,000,000. Year-to-date, in 2022, there were nine sales in this price range, with eleven in 2023, eleven in 2024, and sixteen this year. 

In the exclusive over $3M range, there is one fewer home listed in Deschutes County at thirty-one. There was one pending sale at a list price of $3,999,000 and no closed transactions this week. Year-to-date, in 2022, there were six sales in this price range, three in 2023, four in 2024, and five this year. Expect more listings in this price range as the weather improves over the coming weeks.

Neighboring Crook County has forty-seven homes listed for over $1M, an increase of three from last week. No sales were pending in the previous week, with one closed transaction for $1,619,000 in Brasada Ranch. Year-to-date, in 2022, there were eight sales in this price range, seven in 2023, two in 2024, and four this year.

The year-to-date activity at this time of year indicates better performance than any year since 2022, but buyers and sellers should take this data with a grain of salt. First, inventory levels for the last few years were so suppressed that many buyers were not able to find suitable properties, especially at this time of year. Second, weather in Central Oregon can be unpredictable in the late winter and early spring and has an outsized influence on real estate activity. Still, all indications show market improvements since the peak market in 2022. While smaller Crook County's higher-priced homes are mostly restricted to Brasada Ranch and Powell Butte, which cap potential activity, sales in Deschutes County over $1M steadily increase as affluent buyers relocate to Central Oregon. Regardless of market conditions, knowing the unique appeal of high-end properties and marketing them correctly to potential buyers are essential for the Central Oregon luxury market. 

Click here for the full report.

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.

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With inventory growth across all three counties of Central Oregon and mortgage rates at 6.79% this morning, conditions continue to favor buyers slightly as we enter the 2025 selling season. While prices remain relatively firm, different price points are experiencing varying degrees of pressure from new inventory. Sellers are listing their homes, and I anticipate more inventory than in the last several years. Today's market's most significant price pressures are below the median sale price. 

This week, Deschutes County added 40 homes to the MLS for 884 single-family listings. The median number of days listed for the active inventory is 55, less than any time over the last several months. Fewer days listed are typical for spring when older listings find buyers and new homes flood the market. Sixty-two pending sales this week, 21 less than last week's robust activity, is still ahead of the pace for the last several weeks' pending sales. The average price of actively listed homes is $1,147,969, $928,455 for pending sales, and $849,233 for closed transactions. For a detailed analysis of Deschutes County inventory, click to sign up for my Central Oregon Luxury Market Report!

Crook County inventory is finally starting to build, with 164 single-family homes listed this morning, up 18 from last week and the highest since December 18, 2024. The average list price of the active inventory is $977,087. There were six pending sales in Crook County this week at an average price of $420,315 and four closed transactions at an average of $759,750. All four closed sales this week were in Powell Butte or Brasada Ranch, with all six pending sales in Prineville. With just under 29,000 residents in Crook County and a large and diverse geographic area, analyzing this unique part of Central Oregon takes local knowledge and attention to the differences that make up the county. The premier golf course community of Brasada Ranch stands alone in the county without peers. The views and acreage around Powell Butte and the nearby proximity to Bend and Redmond deserve specific analysis. For more information about Crook County properties over $1M, check out my Luxury Market Report published every Friday.

Jefferson County inventory is slowly inching up. This morning, 102 single-family homes were listed, up two from the previous week. The average list price of the active inventory is $562,316. The average list price of the three pending sales this week was $458,322. This week, there were two closed transactions, one at $279,999 and the other at $427,900. 

The Consumer Price Index Report, due later today, can create volatility in mortgage rates if the number is significantly higher or lower than predicted. Still, I anticipate mortgage rates staying near 7% for the foreseeable future, with variation up and down approximately 30 basis points. Relatively stable rates and adequate inventory equate to a predictable housing market in Central Oregon. For buyers on a tight budget, focused on homes at or below the median sale price, patience is a virtue as the inventory of new listings climbs. For those seeking unique properties with a mix of hard-to-find features, Cascade Mountain views, and trophy locations, it is essential to stay knowledgeable about the market and to act quickly when the right property comes along. 

I recently completed a detailed market analysis for a unique property in Crook County with no easy comparables. I analyze properties in Central Oregon every day of the week, and other agents regularly ask my opinion on hard-to-price properties. Please feel free to reach out anytime you need help with a price opinion, and I will be happy to create a market analysis specifically tailored to you. 

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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.

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Welcome to the first edition of the Central Oregon Luxury Market Report! In this weekly report sent every Friday, I will focus on four categories: Deschutes County single-family properties between $1M and $1,999,999, $2M to $2,999,999, over $3M, and Crook County properties over $1M. As you will see over time, each of these segments of the Central Oregon housing market has particular trends that do not always align with the rest of the market and deserve their own reporting. Let's dive in!

This morning, 216 homes are listed in Deschutes County between $1M and $1,999,999, with a median listing time of 53 days. Eighty-two properties have reduced the asking price by a median of -3.83%. Thirteen homes have been pending in the previous seven days, with a median listing time of thirty-nine days and a median price change before securing a contract of -3.43%. Thirteen transactions closed this week, listed only seventeen days, with a paltry median price change of -1.43%. While many of these properties might fall short of luxury homes, this highly active market segment deserves a closer look. Eighty-seven homes have closed since January 1, 2025, with 682 sales in 2024.

There are sixty-seven active listings between $2M and $2,999,999, and the median days on the market are 53. Three properties are pending at only thirteen days listed, with no price changes before securing a contract. No sales closed in the previous week, and fifteen transactions have closed since the beginning of the year, with eighty sales in 2024.

Over $3M in Deschutes County, you will find the best-of-the-best for Central Oregon with large acreage properties, stunning Cascade Mountain views, premier golf course homes, and more, with thirty-two active listings this morning.The median days listed for the active listings is 157 at an average price of $4,507,844. Eleven price changes at a median of -7.51% show that pricing for exclusive properties can be tricky, and in many cases, an adjustment is required. Two properties are pending, one in Tetherow and the other in Caldera Springs in Sunriver. This week's single sale in this price segment closed in the sought-after Deschutes River Ranch in Tumalo. Five homes above $3M have closed year-to-date, with thirty-seven closing in 2024. 

Forty-four homes are listed in Crook County over $1M, with the median days listed at 107 and an average price of $2,104,295. Most of these properties are around Powell Butte or in the desirable Brasada Ranch golf community. One sale in Brasada Ranch is pending this week at $2,647,700; there has been no price change, with no closed transactions this week. Three transactions above $1M have closed year-to-date, with forty-four in 2024.

Of particular note in this report are the very low median days listed for the closed sales between $1M and $1,999,999 and the pending sales between $2M and $2,999,999. The low days listed before finding a buyer in this price segment contrast sharply with the longer marketing time above $3M. However, desirable homes move quickly in all cases, and the smaller pool of potential properties allows buyers in this segment to be very knowledgeable about the market. 

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