My Weekly Central Oregon Real Estate Blog

It is an interesting time of year in Central Oregon luxury real estate and the broader economy. While many signs point to a more productive summer, the notoriously slow late winter period makes any prediction difficult. However, some early trends are emerging that I am keeping an eye on, in particular, inventory levels, which have remained above seasonal trends over the past few years. The national average for a 30-year jumbo mortgage is 6.35%, down nearly 100 basis points from this time last year. These two data points are the building blocks of increased activity this summer, with the only remaining unknown being buyer demand.

Inventory in Deschutes County this week, between $1 million and $1,999,999, remains unchanged at 192, with 89 listings reducing their asking prices by an average of 6.83%. Twelve pending sales are an increase of four in the most active price tranche of the luxury market. Seven of the pending sales reduced their asking price by an average of 4.14% before securing a contract. Eight closed transactions this week, up by one, with four of those listings reducing the asking price by an average of 6.89% before securing a buyer. The sold-to-original-list-price ratio this week was 93.26%.

Deschutes County listings between $2 million and $2,999,999 are down by one to 52, with 22 of those listings reducing their asking price by an average of 7.44%. Two sales are pending: $2,129,000 in Caldera Springs and $2,999,000 on Eastes Street in NW Bend. The Caldera Springs listing dropped its asking price 2.56% before securing a buyer. No transactions closed this week.

Listings over $3 million in Deschutes County remain at 29, with no pending or closed transactions. Seventeen of the active listings have decreased their asking price by an average of 9.82%.

Crook County listings over $1 million increased by two this week to 38. Twenty of those listings have decreased their asking price by an average of 4.26%. There were no pending or closed transactions this week.

Deschutes County farm listings over $1 million are stagnant for the fourth consecutive week at 12, with three of those listings reducing their asking prices by an average of 15.64% and the median price decreasing by 3.26%. Since the middle of October, there have been only one pending and one closed transaction in this segment of the market.

Crook County farm listings over $1 million hit 11 in late November, then dropped to 10 two weeks ago, where they remain. The last pending sale was in mid-November, and there were no pending or closed transactions again this week.

Segments of the tranches reported on here conduct most of the yearly business from late spring through fall, particularly residential listings over $3 million, and farm properties. While inventory is steady for this time of year, far more properties will be available this spring. The inventory on the market today is either not substantially appealing, overpriced, or both. In many cases, the pricing issues are as much a feature of the market today as they are a function of overly optimistic sellers. Less competition in the winter can be great for sellers, but buyers also expect to find better deals. And with median sale prices essentially flat since the market peak in 2022, amid more competition, sellers are adjusting prices to find the sweet spot. This trend is evident in the price-reduction percentages for the active, pending, and sold data. Whether you are a buyer or a seller this year, tracking the data trends today will help you make better decisions as inventory and activity build towards summer.

Do not hesitate to reach out if you need a market analysis tailored to your specific goals.< 

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Market statistics may not be the most exciting thing you read each week, but I write these reports to share real-time data directly from our MLS, so anyone looking at the housing market will benefit. Many will focus on their wish list as buyers, or what they hope to get from a sale, which are undoubtedly important considerations. However, without a basis for where the market stands, either of those criteria can quickly lead to frustration. It is far better to understand the price range a home is likely to sell for and adjust accordingly than to enter the market with unrealistic expectations, only to be disappointed. I regularly speak with out-of-town buyers who are unfamiliar with our market and list a string of requirements for their future home in Central Oregon, with a maximum budget that can't get the job done. My goal here is to share valuable, up-to-date information to help you make the best decision possible, no matter your goals in Central Oregon!

This morning, in Deschutes County, there are 761 active single-family home listings, down 10 from last week. 57 sales are pending, down 6 from last week, and averaging $785,346. 37 of the pending sales reduced the asking price before securing a buyer by 7.72%. 36 transactions closed this week, up three from last week, with 24 of those listings reducing the asking price an average of 5.93% before securing a contract. The sold-to-original-list-price ratio was 94.35%.

In Crook County, inventory increased for the third consecutive week, with 154 listings this morning, up by two from last week. Six pending sales are up 2 from last week, averaging $594,067, with 3 of those properties reducing their asking prices by an average of 4.18% before securing a buyer. Three transactions closed this week, with one of those sales reducing the asking price 10.01% before securing a contract. One of those sales was on the market for just 5 days, with another for 15 days, remarkably quick for this time of year. The sold-to-original-list-price ratio was 95.41% for the week.

Jefferson County inventory has been steady but bouncing around, with 111 listings this morning, down five from last week. On the last day of 2025, there were 124 listings. Nine sales are pending this week, averaging $401,861, showing strong activity. Pending sales increased by 8 from last week. Six of the pending sales decreased the asking price by an average of 3.74% before securing a contract. Four transactions closed this week, with three of those properties reducing their asking prices by an average of 1.96% before securing a contract. The sold-to-original-list-price ratio this week was 97.21%.

After some volatility in the mortgage markets over the last few weeks, the trend has been heading lower, with the national average for a 30-year fixed-rate conventional mortgage at 6.17%. Lower mortgage rates are particularly helpful at lower price points, and buyers in Central Oregon are taking advantage. Our non-winter weather also helps keep the market moving, with steady activity continuing. Inventory is slightly higher than this time last year across all three counties of Central Oregon, an early indication that sales in 2026 will exceed those in 2025. While prices are stable, conditions for buyers continue to improve. 

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With Martin Luther King Jr. Day celebrated on Monday, sales volume is down this week, while inventory is stable or rising. In my Wednesday report, where I recap the week across all price points, inventory levels also showed slight increases, suggesting an early bottom for actively listed homes in Central Oregon. An early increase in homes listed for sale creates more opportunity for buyers, and more competition for sellers, making price a larger factor in securing a contract. The unknown variable will be buyer demand, which is likely to increase with lower mortgage interest rates. I will be tracking this data closely and comparing 2026 levels with 2025 activity to gauge exactly how the year is unfolding.

Homes listed for sale in Deschutes County between $1 million and $1,999,999 increased by two this week to 192. Eight sales are pending, down 6 from last week. Six of the eight pending sales reduced their asking prices before securing a contract, by an average of 4.78%. Seven transactions closed this week, up two from last week. Three of those listings reduced their asking prices by an average of 8.78% before securing a contract, with the average sold-to-list price ratio for the week at 93.66%.

Inventory of listings between $2 million and $2,999,999 increased by three this week to 53, with 25 of those listings reducing the asking price by an average of 7%. No sales were pending this week, with one closed transaction in Caldera Springs at $2,900,000. The Caldera Springs sale was new construction in the latest phase of the development, with the asking price reduced 1.67% before securing a buyer, and a sold-to-original-list-price ratio of 95.09%.

Deschutes County listings over $3 million decreased by one to 29. Fifteen of those listings have reduced their asking price by an average of 10.55%. There were no pending or closed transactions this week.

Crook County listings over $1 million decreased by one to 36, with 20 of those properties reducing their asking price by an average of 4.26%. One sale is pending at Brasada Ranch, listed at $1,649,000, with a price reduction of 5.72% before securing a contract. No transactions closed this week.

Deschutes County farm listings over $1 million are stable at 12 with no pending or closed transactions. Crook County farm listings decreased by one to 10, with no pending or closed transactions. There have been no pending or closed transactions in the Crook County or Deschutes County farm listings over $1 million in 2026.

This winter may be exceptionally mild, but an inversion last week brought freezing fog to much of Central Oregon, with cold temperatures. Between the weather and an extended holiday weekend, the reduced activity is understandable. However, this time of year is the seasonal doldrums of the luxury market. Activity will pick up as the weather improves and listings begin to build towards the summer peak. Winter is a great time to familiarize yourself with the inventory when levels are lower, making it easier to track the market as new listings start to accumulate. Please don't hesitate to reach out if you need anything! < 

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After briefly sitting below 6% early in 2026, the national average for a 30-year fixed-rate conventional mortgage this morning is 6.21%. A 20-basis-point increase is relatively small, but it will certainly have an impact. Still, mortgage rates are trending lower, nearly 100 basis points below January 2025 levels. Inventory levels are up slightly from this time last year across all three counties of Central Oregon, while lower mortgage interest rates are easing some of the pressure on buyers. While significantly lower mortgage rates may not be on the horizon anytime soon, increased competition amongst sellers creates many opportunities. All in all, the housing market today is more balanced than in recent years.

The Deschutes County inventory this morning shows 771 single-family homes listed, down 8 from last week. The average price of actively listed homes is $1,193,038, and 417 listings have reduced their asking prices by an average of 6.17%. Sixty-three sales are pending, an increase of seven from last week, and continuing the trend of increasing activity as 2026 progresses. The average pending sale price is $791,858, and 34 of those pending sales had reduced their asking price by an average of 5.95%. Thirty-three transactions closed this week, averaging $995,333, with 16 reducing the price before securing a contract, an average of 6.51%. The sold-to-original-list-price ratio was 95.14% this week.

The inventory in Crook County this week is up by 2 to 152 single-family listings. The average list price for the active inventory is $980,154, and 85 listings have reduced their asking prices by an average of 6.61%. Growth in actively listed homes has increased for two consecutive weeks, possibly signaling an early inventory buildup for 2026. Four sales are pending this week, averaging $943,475, with all four reducing the asking price before securing a contract, an average of 7.02%. Four transactions closed this week, averaging $396,575, with no price reductions before securing a buyer. The sold-to-original-list-price ratio was 98.31%.

Jefferson County inventory increased by three this week to 116, with the average list price at $538,750. Sixty-seven of the active listings have lowered the asking price by an average of 3.9%. One sale is pending this week at $399,000 in Crooked River Ranch, reducing the asking price before securing a contract by 10.34%. Five transactions closed, averaging $361,300, with two listings reducing the asking price by an average of 10.91% before securing a contract. The sold-to-original-list-price ratio was 91.12% this week.

Early activity and inventory levels to start 2026 point to a more productive year than 2025, which was better than 2024. Total sales are down from what might be considered "normal" levels of over 4,000 sales of single-family homes in Deschutes County. However, sales this year are likely to come very close, if not surpass, that threshold. Trends and thresholds help determine where we are in the current cycle, but carry little meaning for buyers or sellers in the big picture. Timing is personal for every individual, and timing the market is impossible. When you are ready to buy or sell, evaluating the market to position yourself properly is the key, as waiting is always an unknown. No matter your timing or needs, I am always available to help shed some light on the Central Oregon housing market. Reach out anytime! 

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Reading economic news lately leaves me with whiplash, since the reporting is so heavily biased and subject to interpretation. Some reports show financial stability, while others bemoan a recession. From my corner of the world, with bi-weekly data dissemination on the Central Oregon housing market, the outlook is improving, with all indications pointing to a more active year than 2025. While prices may not be skyrocketing, gains made during the stretch between 2020 and 2022 are locked in, with stable pricing in the luxury markets. Price reductions are rampant, and to the uneducated eye, give the impression of a softening market. However, the median and average sale prices show stability. Mortgage interest rates near 6% are attracting more buyers, and any further reduction will increase activity significantly.

Deschutes County single-family listings between $1 million and $1,999,999 increased this week by one to 190. An increase of one hardly qualifies as a trend, but stable or growing inventory at this time of year is an indicator of what is to come this spring. There is little doubt that the unseasonably mild weather is a contributing factor to this extremely active segment of the market. Fourteen sales are pending this week, up 5 from last week, with 5 of those listings reducing the asking price by an average of 6.02% before securing a buyer. Five transactions closed this week, with four of those sales reducing the price an average of 11.52% before securing a contract. The sold-to-original-list-price ratio was 87.36%.

Listings between $2 million and $2,999,999 in Deschutes County are also holding steady at 50, down by one from last week. Two pending sales this week occurred at $2,187,000 in the Ranch at the Canyons in Terrebonne and at $2,488,000 in Sunriver. Two transactions closed this week for $2,025,000 in Juniper Preserve (Pronghorn) and $2,500,000 on Cascade Estates Drive in Tumalo. The sold-to-original-list-price ratio was 88.73%.

Inventory in Deschutes County over $3 million is stable at 30, with no pending transactions this week. One transaction closed this week in Caldera Springs at $3,125,000. The sold-to-original-list-price ratio was 90.58%.

Crook County single-family homes over $1 million are also stable at 37, the same as last week. One sale is pending this week at $1,285,000 in Powell Butte, with a 6.55% price reduction before securing a buyer. One transaction closed this week at $1,080,000, also in Powell Butte, with a sold-to-original-list-price ratio of 83.14%.

Deschutes County farm listings remain at 12 with no pending or closed transactions. Crook County farm listings are unchanged at 11 with no pending or closed transactions. 

Increased inventory in 2025 created competition amongst sellers not seen in several years. With considerably more selection, buyers were able to pick and choose the perfect fit for their needs, forcing sellers to factor in competing properties into the price equation more than in the recent past. These dynamics have kept prices mostly flat over the past few years. With inventory levels remaining elevated this winter, all indications point to more listings this spring. The unknown variable will be buyer demand, although lower interest rates are bringing more buyers to the table. While this time of year is typically the doldrums of Central Oregon real estate, activity is surprisingly high this winter. An essential factor to watch as spring unfolds will be how much buyer demand tempers growing supply.< 

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After hitting a three-year low of 5.99%, the national average for a 30-year fixed-rate conventional mortgage bounced up slightly to 6.07%. Still, rates are near their lowest point in this cycle, and housing market activity remains steady. Yesterday in Bend, temperatures were above 60 degrees, another factor helping this winter's housing market activity.

This morning, in Deschutes County, the supply of actively listed single-family homes is 779, 17 fewer than last week. Fifty-six pending sales are the most since November, averaging $856,441, with the average price reduction before securing a buyer at 8.07%. Thirty-nine transactions closed this week, averaging $842,986, with 30 of those sales reducing the asking price by an average of 6.18%. The sold-to-original-list-price ratio was 92.96%.

The inventory in Crook County this week increased by five to 150. There were five pending sales this week, averaging $705,780, with four of those listings decreasing the asking price an average of 4.77% before securing a buyer. Six transactions closed this week, averaging $562,665, with the average price reduction before securing a sale at 7.11%. The sold-to-original-list-price ratio was 93.41%.

The supply of single-family listings in Jefferson County this week decreased by 2, to 113. Four pending sales occurred this week, averaging $441,500, with three reducing the list price by an average of 6.25% before securing a buyer. Two transactions closed this week at $378,000 and $500,000, with one decreasing the list price by 11.26% before securing a contract. The sold-to-original-list-price ratio for the $378k sale was 99.5%, while the ratio for the $500k sale was 74.07%. Three manufactured homes on land closed this week, averaging $293,665, with the sold-to-original-list-price ratio at 85.6%.

In 2025, in Jefferson County, 247 single-family homes sold, averaging $433,807, with 69 manufactured homes on land selling at an average of $420,403. The median acreage of the single-family sales was .21 acres, with the median for the manufactured homes on land at 1.82 acres. I focus primarily on single-family homes for all my analytics because it is the largest data pool and provides the most insight into market trends. However, for many buyers focused on lot size and location, especially in Central Oregon's outlying areas, manufactured homes on land are worth considering.

All indications already point to an active 2026 for the Central Oregon housing market. Today, rates are near three-year lows, and sellers are negotiating to close deals. With the stretch of fantastic weather we are experiencing, now is a great time to take a look at what is available, when buyer competition is down from peak season activity. If a property that suits you is available today, the chances of negotiating a lower price than in the summer, with less competition, are high. 

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This morning, the national average for a 30-year fixed-rate jumbo mortgage is flat at 6.35%. However, the 30-year fixed-rate conventional average is at 5.99%, the first time rates have dipped below the 6% threshold since February 2023. Our MLS does not categorize jumbo loans, with the majority of financed sales listed as conventional. Loan type aside, of the 70 sales recorded at $1 million or more in Deschutes County since December 1, 2025, 23 were cash transactions, 32.86%. This cash-to-financed transaction ratio is typical, as a majority of buyers in the luxury market consider the opportunity cost of paying cash, especially at a time when equity markets are returning exponentially more than the cost of a mortgage. No matter how a buyer chooses to pay for luxury property in Central Oregon, lower interest rates drive more activity, and 2026 is shaping up to continue the trend of steady activity in our corner of the world.

Single-family homes listed between $1 million and $1,999,999 in Deschutes County decreased by one this week to 189. With next week forecast to be sunny with highs in the low 50s, I expect real estate activity to remain steady. Nine pending sales this week averaged $1,569,106, with the average price reduction before securing a buyer at 7.32%. Two transactions closed at $1,325,000 in Awbrey Glen and $1,398,120 in Caldera Springs. The sold-to-original-list-price ratio was 93.79%.

Supply of Deschutes County homes listed between $2 million and $2,999,999 decreased by three to 51. Three pending sales averaged $2,661,333, with the average price reduction before securing a buyer at 3.39%. One transaction closed in Tumalo for $2,175,000, at 96.67% of the original list price.

The inventory of homes in Deschutes County over $3 million increased by one to 30. There were no pending sales, with one closed transaction in Broken Top at $3,100,000. The sold-to-original-list-price ratio of the Broken Top sale was 91.85%.

Crook County inventory over $1 million is flat from last week at 37 listings. There were no pending sales this week, with one closed transaction for $2,425,000 on Wooden Trestle Lane in Brasada Ranch. The Brasada Ranch sale closed at 89.81% of the original list price. Going back to January 1, 2025, this week's closing at Brasada Ranch is the second-most-expensive sale in the period. There were 30 sales total at Brasada Ranch in this period, with the most expensive at $2,447,700 and five sales over $2 million.

Deschutes County farm listings over $1 million increased by two to 12 this week. There were no pending or closed transactions.

Crook County farm listings over $1 million are flat at 11, and have been since late November. The median list price of $3,439,000 is also unchanged since late November, with no pending or closed transactions.

Market conditions are more favorable right now than in recent years. The combination of increased inventory, lower rates, and unseasonably mild weather is helping to keep buyers engaged and encouraging sellers to keep their properties listed. It is far too early to write off winter entirely, and more storms are sure to blanket the Cascade Mountains before long. Whatever Mother Nature decides, the other factors that have created our stable, steady housing market will continue.< 

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As expected, the supply of homes in Central Oregon took another significant dip this week. The national average for a 30-year fixed-rate conventional mortgage dipped slightly to 6.19%, a trend that will likely continue as rates stabilize and eventually settle in closer to the the 6% threshold. Exactly where rates end up depends on several factors yet to unfold, but I anticipate the very high 5% to the very low 6% range for the majority of the 2026 selling season.

This week, I will break down sales volume and price changes between 2024 and 2025, including a deeper analysis of different price tranches. The too-long, did-not-read version is that prices were basically flat in 2025 over 2024.

This morning in Deschutes County, actively listed single-family homes decreased by 74 to 796. A significant drop is typical at year-end, and it's nothing out of the ordinary. Forty-nine pending sales this week averaged $884,033, and 24 of those sales reduced the asking price by an average of 6.84% before securing a buyer. Twenty-nine transactions closed this week, averaging $919,332, with 18 reducing the asking price 7.91% before securing a buyer. The sold-to-original-list-price ratio was 92.84%.

Deschutes County sales in 2025 totaled 3,506, 161 more than last year. The average sale price was $872,095, an increase of 3.01% from 2024's average. Sales in the county under $1 million were 2,676, seventy-three more than in 2024. The average sale price in this tranche was $639,436, reflecting a 1.09% increase. Over $1 million, there were 851 sales, an increase of 100 over 2024, with the average price at $1,606,856, a 1.04% increase. Between $1 million and $2,999,999, there were 812 sales, an increase of 98 from 2024, with an average sale price of $1,501,240, an increase of 2.09%. Over $3 million, there were 39 sales, two more than in 2024, averaging $3,805,830, a decrease of 2.49% from 2024. The data show that competition increased and that price matters. In this environment, over-priced homes do not sell.

This morning in Crook County, there are 145 single-family listings, down by 14 from last week. two pending sales occirred at $330k and $429k, with no price changes. Five transactions closed this week, averaging $865,580, with a sold-to-original-list-price ratio of 92.65%.

There were 381 single-family homes sold in Crook County in 2025, down by one from 2024. The average sale price was $604,688, up 1.4%. Over $1 million, there were 44 sales in the county, up one from 2024. The average sale price in this tranche was $1,547,924, up 1.91%. There were 29 sales in Brasada Ranch in 2025, down four from 2024. The average sale price was $1,474,887, up 4.6%. Under $1 million, Crook County had 337 sales averaging $481,536, an increase of .15%. There is a bifurcation in the dynamics of homes in Crook County, splitting at the $1 million mark. Competition at lower price points makes accurate pricing of listings imperative, amid flat year-over-year growth.

In Jefferson County, there are 115 single-family listings this morning, down nine from last week. Three pending sales averaged $353k, with one reducing the price 12.48% before securing a buyer. Two transactions closed at $327k and $800k, with the sold-to-original-list-price ratio at 95.71%.

Jefferson County had 247 single-family sales in 2025, up 23 from 2024. The average sale price was $433,807, up 3.1%. There were two sales in the county over $1 million in 2025 ($1,024,000 and $1,200,000), the same as in 2024. The 2024 sales were at $1,000,000 and $1,100,000. While 2025 sales reflect an 8.76% increase, the data pool and diversity of these four properties render the increase meaningless. While Jefferson County doesn't have many properties selling over $1 million, the overall market was steady, and the sales price increases are in line with those of Crook and Deschutes Counties.

2026 has already ushered in lower mortgage interest rates, which should help bolster sales for the year. Short of bidding wars, which are essentially behind us in most of the market, price will be the most significant factor when listing properties. Without the market pressure that does not exist today, 2026 is shaping up to be incrementally better than 2025. I specialize in market analysis and estimating accurate sale prices, so please reach out if you have any questions about your home's position in the market today or a reasonable price for homes you are considering purchasing. I am always happy to share my knowledge of Central Oregon communities and current market dynamics. 

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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.

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Welcome to 2026! The next several weeks are typically the slowest of the year, but stable-to-slightly-decreasing mortgage rates are an encouraging start to the new year. Supply will continue to decrease before we turn the corner towards adding new listings this spring. However, there are still enough homes listed to provide many options for buyers, and I expect modest sales to continue, especially in the active $1 million to $3 million range.

Deschutes County listings between $1 million and $1,999,999 decreased by 16 this week, now at 190. Three sales are pending this week, with one changing the price by 4.07%. It is not unheard of for prices to go up, though it is rare. Two of the pending sales are in the growing community of Caldera Springs in Sunriver. Eight transactions closed this week, with three lowering prices by an average of 9.71%. The sold-to-original-list-price ratio was 92.04%.

Listings in Deschutes County between $2 million and $2,999,999 decreased by five to 54. There were no pending sales this week. Two transactions closed, with one showing zero days on the market and the other only 15. Rapid sales are not as common as a few years ago, but in the coveted higher price points, desirable properties still move fast. There were no price changes from the asking price for the closed transactions.

Deschutes County listings over $3 million decreased by four to 29 this week. The high for the year was on July 18 at 53, with the low for 2025 on March 28 at 29. The exclusive inventory over $3 million slows more than any other segment of our market during the winter, with most activity occurring from late spring through late fall. There were no pending or closed transactions this week.

Listings over $1 million in Crook County decreased by seven to 37 this week. There was a single pending transaction at $2,395,000 on Johnson Creek Road NE of Prineville. One transaction closed this week on Wildhorse Court in Brasada Ranch. The sold-to-original-list-price ratio for the closed transaction was 89.52%.

Deschutes County farm listings over $1 million decreased by one to 10, averaging $3,023,300. There were no pending or closed transactions.

Crook County farm listings over $1 million remain at 11, and average $5,310,455. There were no pending or closed transactions this week.

Whether you are a buyer or seller in the Central Oregon luxury market in 2026, getting familiar with the inventory today and tracking it as supply builds is essential to being prepared to make the most of your situation. With the national average for a 30-year jumbo loan flat for the last few weeks at 6.37%, market conditions are stable. While Gross Domestic Product data in 2025 was volatile, the second quarter showed GDP at 3%, while the third quarter showed GDP at 4.3%. Whether the fourth quarter of 2025 shows continued growth at the next release on January 22, 2026, remains to be seen, but by all accounts, the economy is healthy. All early indications point to a healthy housing market in 2026.< 

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Happy New Year!

As we count down the hours to 2026, the national average for mortgage interest rates today on 30-year fixed-rate conventional mortgages sits at 6.2% comapred to 7.07% on the last day of 2024. Inventory levels in Central Oregon are up slightly to moderately, depending on the county. A significant indicator of where the housing market will trend next year will be how low inventory levels drop over the next several weeks before supply begins to build toward the summer peak. As mortgage rates decline, it becomes easier for those with attractive mortgage rates to consider selling, particularly as rates dip below 6%. I expect transaction volume to increase in 2026, with prices either maintained or rising from 2025 levels.

Supply of actively listed single-family homes in Deschutes County declined by 30 this week, to 870. The last week of 2024, there were 848 listings. Twenty-eight pending sales occurred this week, down significantly from the previous week due to the holiday season. The average pending sale price was $766,871, and 18 of those transactions reduced the list price by an average of 6.77%. Thirty-five transactions closed, averaging $881,005, with the sold-to-original-list price ratio at 96.24%. The transaction volume of sold single-family homes in Deschutes County in 2022 was 4,130; in 2023, 3,162; in 2024, 3,345; and so far in 2025, 3,494. The average sale volume between 2014 and 2019 (the last time frame not impacted significantly by extraordinary forces) was 4,523. While transaction volume is still below average, each year since the 2023 decline has improved, and the Deschutes County housing market is healthier and more stable than in the past several years.

Single-family homes listed in Crook County decreased by four this week to 159. This week last year, the level was 155. Five pending sales averaged $916,980, and three of those listings reduced the asking price by an average of 9.97%. Five transactions closed, averaging $494,700, with the sold-to-original-list price ratio at 89.95%.

In Jefferson County, supply decreased by three to 124 single-family listings. In the last week of 2024, there were 99 listings in the county. While a 25% increase in supply is significant, Jefferson County's supply during and directly after the pandemic market took the biggest hit of the three Central Oregon counties. The level of supply and activity in Jefferson County is healthy and stable. Three sales are pending this week, averaging $594,300, with one showing a 4.14% price reduction before securing a buyer. Two transactions closed at $325,000 and $800,000, with a sold-to-original-list price ratio of 93.12%.

Heading into 2026, sellers have stable market conditions, which makes pricing for a sale easier. With prices sure to increase somewhat, pushing the envelope early in the year may produce a positive outcome. However, I anticipate mid-single-digit appreciation, and encourage anyone hoping to secure a buyer sooner than later to exercise some pricing restraint. Byers in 2026 will benefit from lower rates and potentially have more tools available, such as a 50-year mortgage term. Without wading too deeply into the pros and cons of a 50-year mortgage, it can be an effective short-term tool for some buyers.

I wish you and your families a happy and prosperous 2026! If you need anything, do not hesitate to reach out.  

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