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.
With only four business days left in 2025, and most people taking time off with family and friends, it is no surprise that real estate activity has slowed dramatically. Here in Sunriver, snow is falling this morning, and while we might be experiencing a very mild winter to date, there is no doubt the recent winter-like weather has put a damper on the housing market. However, as the data below shows, inventory levels remain strong, and I anticipate the market will begin to pick up steam shortly after the start of 2026.
Deschutes County single-family homes listed between $1 million and $1,999,999 decreased by 2, to 206 listings. Only three homes are pending this week, averaging $1,183,333, with one of those listings in Black Butte Ranch reducing the list price 24.8% before securing a contract. Eleven transactions closed this week, a nod to the increased activity of the last several weeks, averaging $1,541,890, with five reducing their asking price an average of 10.72%. The sold-to-original list-price ratio was 91.88%.
Listings between $2 million and $2,999,999 in Deschutes County increased by 2, bringing the total to 59. One property in Pronghorn (Juniper Reserve) is pending after 510 cumulative days on the market at $2,219,000. Interestingly, the seller never lowered the asking price during the nearly 2 years on the market, showing impressive perseverance. One transaction closed this week, listed only 21 days, and selling for $2,143,633, 95.27% of the list price.
The inventory of single-family homes in Deschutes County listed over $3 million decreased by one to 33. There were no pending or closed transactions in this segment this week.
Crook County homes listed over $1 million remain at 44 for the third consecutive week, with no pending or closed transactions.
There are 11 farm listings over $1 million in both Deschutes and Crook Counties. Neither County had any pending or closed transactions this week.
With just hours remaining in 2025, I thank all of you for following my reports. I hope 2026 is happy and prosperous for you, and I am glad to help in any way I can. Happy New Year!<
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.
"'Twas the night before Christmas, when all through the house
Not a creature was stirring, not even a mouse..."
I wish all of you a Merry Christmas and a joyous holiday season, however you choose to spend these days before the start of a New Year.
The Central Oregon housing market is chugging along this season, with buyers harboring visions of sugar-plums dancing in their heads. The national average this morning for a 30-year fixed-rate conventional mortgage is down to 6.21%, six basis points lower than recent levels, and nearly 100 basis points lower than at this time last year. Inventory levels throughout the region are very slightly higher than last year at this time, and notably, our weather is exceptionally mild. All of these factors are combining to create a perfect scenario to keep real estate activity brisk.
Single-family homes listed in Deschutes County decreased by 29 to 900. For reference, the low point of 2025 occurred in early February when the inventory hit 750. Unlike the frenetic period between early 2020 and late 2022, when levels bottomed out at less than half of today's levels. Fifty-two homes are pending this week, up eleven from last week. Sixty-one transactions closed, averaging $978,110, up two from last week, with the sold-to-original-list price ratio at 92.95%.
Crook County's inventory of single-family homes decreased by 3 to 163. On Christmas Day last year, there were 155 single-family homes listed. Three pending sales are four fewer than last week, with four closed transactions averaging $525,756 and a sold-to-original-list price ratio of 92.24%.
Jefferson County's inventory rose to 127 for the third time in the past five weeks, up two from last week.On Christmas Day last year, there were 99 single-family homes listed. One pending sale occurred this week: listing for twelve days at $365,000. Six transactions closed, averaging $443,900, with the sold-to-original list price ratio at 94.47%. The pace of new listings relative to sold properties in Jefferson County is keeping the inventory remarkably stable. It isn't often that real estate achieves a truly balanced market, but Jefferson County has done just that in the last half of this year.
Starting 2026 with mortgage interest rates stable and considerably lower than in 2025 creates stability in the Central Oregon housing market not seen since 2019. The crazy amount of relocation that occurred during the pandemic years, followed by an unprecedented rise in mortgage interest rates not seen in the last decade or more, seemed to keep the housing market out of balance. Healthier levels of supply combined with stable mortgage rates have calmed the markets, which, in the long run, is good news.
I am available for anything you need over the holidays, and I am grateful to all my past, present, and future clients! I strive to provide information to help you navigate the Central Oregon housing market, wherever you are in the process, and no matter which side of a transaction you are on. Merry Christmas!
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.
Every year, the Central Oregon housing market experiences a reset at year's end, then builds back to a peak in late summer. Many listings expire on December 31 and will not relist until spring. This phenomenon, combined with changes in the economy and mortgage interest rates, creates a fresh scenario each spring that isn't always easy to see until it unfolds. However, there are signs as the new year begins that show the direction our housing market is moving. Of course, these signs will not reveal sudden shocks to the market, but barring anything out of the ordinary, it isn't terribly difficult to predict the market, at least the first several months of the new year.
Mortgage interest rates will be relatively stable in 2026, removing one variable from the equation. The following variable will be inventory levels, in particular, how low they go this winter and how quickly they build this spring. After that, buyer demand ties it all together. After a dip in transaction volume in 2023, sales volume over the past two years has increased, now at reasonably normal historical levels, and there is every reason to believe that sales will increase further in 2026. Tracking how much inventory declines after the end of the year is the last metric that will provide early insight into 2026, followed by where inventory levels go from there.
As expected, this week is slow in real estate, and listings in Deschutes County between $1 million and $1,999,999 are the same as last week at 208. Only six pending sales occurred this week, with two of those properties reducing their asking prices before securing a contract, an average of 10.74%. However, there were 16 closed transactions, averaging $1,370,949, with 11 of those properties reducing their asking price an average of 9.39% before securing a buyer. The sold-to-origional-list-price ratio was 86.99%.
Deschutes County listings between $2 million and $2,999,999 increased by one this week to 57. There were no pending or closed transactions.
Listings in Deschutes County over $3 million decreased by three to 34, with no pending or closed transactions.
Crook County listings over $1 million remain at 44, with one pending sale on Wooden Trestle Lane in Brasada Ranch. The Wooden Trestle property was listed for 230 days, with a 5.56% price reduction, before securing a buyer. There were no closed transactions this week.
Deschutes County Farm listings over $1 million decreased by 2 to 11, with no pending or closed transactions. Crook County farm listings over $1 million have a four-week streak with inventory stuck at 11, and the average list price is $3,439,000.There were no pending or closed transactions this week.
The stability of our market continues, with no apparent jolts to housing in Central Oregon. I will continue tracking all of this data and reporting my findings so you are abreast of any early developing trends. My following report on the broader market will be on Christmas Eve, with the Luxury Market Report the day after Christmas. I wish all of you a happy year-end with family and friends! Thank you for following my writing and continuing to allow me to serve you. None of my research matters without you!<
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.
Stability in real estate is positive, if not uninteresting. But planning to buy or sell in a stable market makes it infinitely easier to plan and finance. Looking back to this week in December 2024 shows very similar data across all three counties of Central Oregon, with consistent activity heading into the last two weeks of the year. Mortgage interest rates have also been stable, with the national average for a 30-year fixed-rate conventional mortgage at 6.27%, unchanged since early September and unfazed by the Federal Reserve's latest 25-basis-point rate decrease. The outlook for rate decreases in 2026 is uncertain, but data will largely drive it as the new year unfolds. Dropping below 6% is less likely, with 2026 shaping up to be very similar to 2025 in Central Oregon.
This morning in Deschutes County, active listings decreased by 39 to 929. This week in December 2024, there were 877 active listings, a 5.9% increase. Forty-one pending sales occurred at an average price of $736,090, with 24 reducing the asking price before securing a buyer, resulting in an average reduction of 7.62%. Fifty-nine transactions closed, averaging $770,558, with the sold-to-original-list-price ratio at 94.13%.
Crook County inventory decreased by six to 166 active listings, one fewer than this week in December 2024. Activity was robust, with 10 pending sales averaging $742,429, and 6 of those listings decreased the asking price by an average of 6.06% before securing a buyer, twice as many pending sales as this week in December 2024. Six transactions closed this week, averaging $835,558, with a sold-to-original-list-price ratio of 94.72%.
Jefferson County's inventory decreased by 2, now at 125 active single-family home listings. The inventory level today is 27 units higher than it was this week in December 2024, a 27.5% increase year-over-year. Three pending sales occurred, averaging $362,300, with one property reducing the asking price by 9.34% before securing a buyer. Three transactions closed this week, averaging $408,516, with the sold-to-original-list-price ratio at 94.96%.
The sold-to-original-list-price ratio shows that many sellers need to lower prices to attract buyers. With days on the market for active listings increasing and prices relatively flat since 2022, market conditions are not conducive to pushing the envelope on price. In the high-end market, two properties that sellers chose to sell at auction prove this point: both sold for less than half their original list price. Increased inventory creates more competition between sellers, and homes priced above the market are sitting. While the price increases that peaked in 2022 are essentially locked in, pricing well above those levels today is working against most sellers. With mortgage rates expected to remain flat for the foreseeable future, sellers should consider these factors for the coming year.
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.
The Federal Reserve decreased the overnight rate by another 25 basis points this week, marking the third decrease this year. The 30-year jumbo national average this morning is 6.42%, up from the recent low of 6.1% on October 23, this year, but down .61% year-over-year. On October 20, 2023, the jumbo 30-year national average peaked at 8.05%, the highest point since 2000. It remains to be seen if further rate decreases are in store for 2026, but it is safe to say the recent cycle of higher rates is behind us.
Single-family homes listed between $1 million and $1,999,999 in Deschutes County decreased by fourteen to 208 this week. Eight pending sales occurred, with four listings decreasing the asking price by an average of 7.59% before securing a contract. Eleven transactions closed this week, averaging $1,455,400, with nine of those properties reducing the price before securing a buyer an average of 9.34%. The average sold-to-original-list price ratio this week was 89.19%.
Year-to-date 2024, there were 609 closed sales in Deschutes County between $1 million and $1,999,999, averaging $1,360,737. This year-to-date, there have been 670 sales averaging $1,367,139.
There are three fewer listings in Deschutes County this week between $2 million and $2,999,999, bringing the total to 56. One sale is pending, listed in Sunriver for $2,100,000 and marketed for 124 days. One closed transaction occurred in Bend at $2,595,000 on the Deschutes River on NW Harriman Street. The Harriman listing was on the market just 37 days, and sold for the full asking price.
Year-to-date 2024, there were 75 closed sales in Deschutes County between $2 million and $2,999,999, averaging $2,353,472. This year-to-date, there have been 99 sales averaging $2,406,780.
Deschutes County single-family homes listed over $3 million decreased by one to 37 listings. The decrease is due to one pending sale in Brokem Top, listed for $3,295,000. There were no closed transactions this week.
Year-to-date 2024, there were 36 closed sales over $3 million, averaging $3,911,442, compared to 38 this year, averaging $3,817,826. The diversity of homes listed over $3 million makes the average number less relevant than the steady sales volume.
The Crook County luxury home market, with listings over $1 million, decreased by one this week to 44. The decrease was due to a pending sale in Powell Butte, listed for $1,149.000, and originally listed at $1,299,000. There were two sales this week, the first in Powell Butte closed for $1,350,000, 96.5% of the original list price, and the second in West Powell Butte Estates closed at $1,575,000, 87.55% of the original list price.
Year-to-date in 2024 and 2025, there were 42 sales of $1 million or more in Crook County. The average sale price increased from $1,519,607 to $1,570,445.
Deschutes County farm listings over $1 million decreased by one to 13, with no pending or closed transactions. Crook County farm listings over $1 million are steady at eleven, with no pending or closed transactions.
In the run-up to the 2008 housing market crash, the first year with sales volume above 3,000 units was 2003, with 3,459 sales. In 2004, sales totaled 4,409, in 2005, 5,369, and in 2006, 4,002, before bottoming out at 2,043 in 2008. Sales across all price points of single-family homes next surpassed 3,000 units in 2010 (3,197), with steady increases until 2014 when sales surpassed 4,000 units. Sales ranged from the low to mid 4,000s until 2020, when sales hit 5,326. In 2021, sales were 5,256; in 2022, 4,130; and in 2023, when interest rates spiked, 3,162. In 2024, sales totalled 3,345, and year-to-date in 2025, 3,344.
In 2003, Deschutes County's population was 125,396, compared to 208,612 in 2024.
Analyzing the data shows that Central Oregon housing has remained remarkably stable through the period of higher mortgage interest rates. The increase in sales volume over the last three years is notable, while prices have remained stable. While we have not seen significant price increases since 2022, the increases during the pandemic were remarkable. The Central Oregon housing market remains steady and behaves more like a healthy market than many reports suggest. Next year will be another with modest sales volume and price increases, rather than significant movement on either front.
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 only three weeks left in the year, and only fourteen business days on the calendar, the early indicators of what to expect for the housing market in 2026 are already emerging. A significant factor impacting housing in 2026 will be interest rates, and the Federal Reserve will announce today whether another 25-basis-point decrease is coming. The markets are anticipating a rate cut, even though Jerome Powell all but ruled it out in his narrative following the last meeting. While a cut today is anything but sure, mortgage interest rates have actually increased after each of the past cuts, and by the time it all washes out, I do not anticipate much movement. Rates have increased significantly lately, with the national average for a 30-year fixed-rate conventional mortgage at 6.36%. Following this year's movement in mortgage rates, today's increase is likely indicative of the expected Fed cut. Go figure.
While rates in 2025 moved down considerably from the highs of 2024, there is little expectation that rates will continue to decline in 2026. Once everything settles out, I expect to see 30-year mortgages in the high 5% to low 6% range in 2026. A 6% interest rate may be higher than many hoped, but it is nearly 100 basis points below the average rate until the end of 2025. The improvement in interest rates will keep inventory capped, and likely lower than the highs reached this year.
Active listings in Deschutes County decreased by 28 to 968 this week. Pending sales improved by 12 to 49 after the first full week of business following the Thanksgiving break, averaging $784,235. There were 14 additional closed transactions this week, bringing the total to 59, with the sold-to-original-list price ratio at 92.76% and the average sale price at $851,615.
Year-to-date sales in Deschutes County in 2024 were 3,191, averaging $849,424. The total sales for the year were 3,345. Year-to-date sales in 2025 are 3,321, averaging $873,296. This year represents a 4.07% increase in volume and a 2.81% increase in price, which exactly matches the claimed rate of inflation.
Crook County inventory decreased by two this week to 172, one more than this week last year. There were five pending sales averaging $513,600, and five closed transactions averaging $513,600. The closed transactions sold-to-original-list-price ratio was 96.67%, with an average sale price of $531,800.
Year-to-date sales in Crook County in 2024 were 369, averaging $599,311. The total sales for the year were 382. Year-to-date sales in 2025 are 364, averaging $602,463. This year represents a 2.81% decrease in volume and a .52% increase in price.
The outlier this week is Jefferson County, which saw active listings increase by 5 to 127—two pending sales match last week's, at $599k and $600k. There were six closed transactions, with an average sold-to-original-list price ratio of 97.68% and an average closing price of $366,449.
Year-to-date sales in Jefferson County in 2024 were 281, averaging $429,617. The total sales for the year were 292. Year-to-date sales in 2025 are 311, averaging $426,532. This year represents a 10.67% increase in volume and a 7.2% decrease in price.
This year, more inventory, competition, and lower mortgage interest rates late in 2025 brought buyers out of the woodwork. This trend should continue into 2026, with the wildcard being how many buyers step up and whether inventory drops enough to put upward pressure on prices. At this point, I anticipate 2026 will be slightly better than 2025 in terms of sales volume, with extremely modest price increases. Some potential sellers have been hoping for another price spike, but the chances of that happening in 2026 seem like a long shot.
TL;DR: The Central Oregon housing market is healthy and stable, with only minor increases expected for 2026.
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.
The holiday hangover in sales activity continues this week, with modest transaction volume. With Christmas less than three weeks from today, the end-of-year vacation season is upon us. Bend and Sunriver are experiencing the calm before the storm as out-of-town visitors descend on Central Oregon in the coming days. We are likely to see fewer visitors than usual, with skiing off the table so far this year. The national average for a 30-year Jumbo mortgage moved up slightly to 6.4% from a low of 6.25% on November 25. Activity this fall, right up to the Thanksgiving holiday, was brisk, but the remaining days of 2025 are setting up to be slow, which is typical for the season.
The inventory of homes listed between $1 million and $1,999,999 in Deschutes County decreased by 25 this week to 222. There are 10 pending sales, one more than last week, with 8 of those transactions reducing the list price by an average of 11.25% before securing a contract. Nine transactions closed this week, with five reducing the list price an average of 10.24% before securing a contract. The sold-to-original-list price ratio was 91.1%, and the average sold price per square foot was $467. The negotiations taking place this fall in this price tranche are notable, as sellers have shown a willingness to work with buyers beyond recent years.
Homes listed in Deschutes County between $2 million and $2,999,999 decreased by four to 59. There were no pending sales, and one closed transaction in Pronghorn (Juniper Ridge) at $2,350,000, 78.86% of the original list price. The sold home in Proghorn was on the market for 462 days, and initially listed for $2,980,000.
Inventory in Deschutes County over $3 million dropped by two this week to 38 listings. The reduction in supply was due to one pending and one closed transaction. The pending sale was a home in Caldera Springs, built in 2016, listed at $3,198,000, reduced by 7.3% before securing a buyer, and was on the market for 277 days. The closed transaction was for Cartwright Court in Tetherow, listed for $3,975,000 and selling for $3,900,000 after only 29 days on the market.
Crook County homes listed over $1 million decreased by four to 45. The attrition in Crook County single-family homes this week is due to listings withdrawn or expired from the MLS. There were no pending or closed transactions this week.
Deschutes County farm listings are unchanged at 14, with no pending or closed transactions. Crook County farm listings are stable at 11 with no pending or closed transactions.
Taking a broad view of the luxury market this year shows overall steady pricing and increased volume. 2024 year-to-date in Deschutes County, closed transactions over $1 million were 709, averaging $1,593,328, compared to 795, averaging $1,610,978 this year. Year-to-date 2023 shows 607 sales, with closed transactions averaging $1,563,759 each. Year-to-date 2022 saw robust sales of 830, averaging $1,543,810 per sale. Comparing the crucial last four years in Central Oregon real estate shows far better numbers than many realize. The frenetic build-up of activity between 2020 and 2022 is unmatched in Central Oregon, so a slight drop in transaction volume isn't surprising. But through the period of increased mortgage interest rates, sale prices have remained remarkably stable.
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.
As expected, transactions were down this week due to the Thanksgiving holiday and reduced business days. The inevitability of the Central Oregon seasonal slowdown is ramping up, as buyers shift their priorities towards vacations and family. Transactions still happen, albeit at a slower pace, and fewer new listings hit the market, while many active listings expire and will not relist until spring. The valuable insight into how the 2026 market will shape up starts with following how low inventory drops, and when it begins to climb again, combined with interest rates as spring approaches. Next week is the last Federal Reserve Open Market Committee Meeting until late January, with all early indications pointing to a rate hold. The next several weeks in Central Oregon are the doldrums of the cyclical housing market.
Single-family listings in Deschutes County this week dropped by sixty to 996. Active listings have fallen below 1,000 for the first time since March 26 of this year, and are up 32 from this week last year. Thirty-seven pending sales, averaging $830,126, are nearly half of the previous week's. Thirty-five closed transactions are down 25 from last week, averaging $922,327, with the sold-to-original-list price ratio at 94.24%. The average sold price per square foot was $406.
Crook County's inventory decreased by only 4 to 174, the exact number of listings in the county this week last year. One sale is pending, listed at $375,000 after a 6.02% price decrease. Three transactions closed, averaging $575,544, with the sold-to-original-list price ratio at 94.26%. The average sold price per square foot was $288.
Active listings in Jefferson County are down by five this week to 122, up 17 from this week last year. Two sales are pending, listed at $349,000 and $365,000, with one of those listings dropping the price by 6.93% before securing a contract. Three transactions closed this week, averaging $414,865, with two dropping the list price before securing a contract, an average of 11.79%. The sold-to-original-list price ratio for the week was 92.84%. The average sold price per square foot was $291.
For most of 2025, the most significant change over the past several years was the increase in inventory. As mortgage interest rates began to fall from recent highs, more buyers stepped up, particularly this fall. Today, the national average 30-year fixed-rate conventional mortgage is 6.23%. All indications point towards slightly lower rates in 2026, which will bring more buyers to the table. It is unlikely inventory will reach 2025 levels, and with more competition from buyers, prices will increase. Sales this year show modest increases over 2024, maintaining the highs set in 2022. Over the next several weeks, I will break down the year-over-year sales volumes and prices for the different communities of Central Oregon, so stay tuned!
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.
Welcome to the post-holiday Luxury Market Report! With only 22 business days left this year, the days are winding down on 2025. While any new pending sales are likely to close in 2026, many currently pending sales will still close this year, bolstering what has been a strong year for sales over $1 million. The numbers this week are down due to the missed business days from Thanksgiving, but activity remains surprisingly strong.
Active listings in Deschutes County between $1 million and $1,999,999 dropped by 4, to 247. Nine pending sales are down five from last week, but steady given the missed business days. The average price reduction of the six pending sales that decreased the list price before securing a buyer was 10.54%, continuing the trend of buyers moving on good deals. Eight transactions closed this week, down four from last week, and 6 reduced the price before securing a buyer by 5.32%. The sold-to-original-sale-price ratio was 93.88%.
There are two fewer active listings between $2 million and $2,999,999 in Deschutes County this week, bringing the total to 63. Three sales are pending this week, with all three reducing the list price before securing a buyer, averaging -4.45%. Two transactions closed this week, with one in the north section of the Sunriver Resort for $2,265,000 and the other in Tetherow for $ 2,454,000. The Sunriver sale went for full price, while the Tetherow sale closed 5.58% below the list price.
One fewer active listing over $3 million is available in Deschutes County this week, bringing the total to 40. There were no pending or closed transactions this week.
Crook County active listings over $1 million also decreased by 1, to 49. There was one pending sale in Brasada Ranch on Wildhorse Court, listed for $1,045,000 and showing an 8.73% reduction from the original list price. There were no closed transactions this week.
Deschutes County farm listings over $1 million decreased by one to 14. One sale is pending at $1,550,000, which was reduced by 13.89% before securing a buyer. This EFU (Exclusive Farm Use) zoned property on Deschutes Market Road has development potential for five single-family lots ranging from 1.5 acres to 2.75 acres. There were no closed transactions this week.
Crook County farm listings over $1 million increased by one to 11. There were no pending or closed sales this week. Interestingly, the median sale price of these listings is $3,439,000, and the average is $5,351,364. Looking at all farm listings in Crook County, there are only two listings below $1 million, bringing the total to 13. One is actively growing grapes for wine in-town Prineville at $759,000. This property has a Main Street address, and the home boasts Frank Lloyd Wright-inspired architecture. The other is on 77 acres north of Prineville, on Gerke Road,listed for $969,000.
Typically, a large percentage of listings expire on December 31, and our inventory drops considerably before building up in the spring towards the peak in mid-summer. However, with such steady activity deep into the end of this year, it will be interesting to see if more sellers choose to continue marketing their properties through winter. By all accounts, mortgage interest rates will be down further in 2026, and sales volume should increase. With those dynamics in play, I anticipate increased sales in the luxury market for next year.
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.
Happy Thanksgiving! I hope you have a relaxing holiday with family and friends. Typically, the day after Thanksgiving marks the opening day for Mt. Bachelor in Central Oregon, but this year the weather hasn't cooperated. However, relatively mild conditions mean hiking, mountain biking, or walking in your favorite downtown area are all great options this year.
Next week's numbers will be down with fewer business days for transactions, and most people will be taking a well-deserved break. However, this week's activity remains steady, continuing the trend of more transactions this year than last.The national average for a 30-year fixed-rate mortgage is 6.22% this morning, approaching recent lows and likely contributing to the strong activity this fall. When business starts again on Monday morning, there will only be 22 business days left this year! Most pending sales beginning Monday will close in 2026, making 2025 nearly a memory.
This morning in Deschutes County, there are 17 fewer listings than last week, now at 1,056.On this day in 2024, there were 1,019 active listings, with the steady activity this fall cleaning up a lot of excess inventory. Sixty-two pending sales this week are down a bit from recent trends, but ten more than this week last year. Sixty closed transactions this week are seven more than in 2024. The sold-to-original list price ratio this week was 94.8%, compared to 96.1% last year.
Active listings in Crook County this week are down nine from last week to 180, nine more than this week in 2024. Eight pending sales this week are one more than this week last year, and eight closed transactions are double last year's. The sold-to-original list price ratio this week was 92.46%, compared to 95.85% last year.
In Jefferson County, inventory increased by three to 127, compared to 107 this week last year. There were no pending sales this week, compared to 5 in 2024. Four transactions closed this week, down two from this week last year. The sold-to-original list price ratio this week was 94.92%, compared to 90.21% last year. With so few closed transactions in Jefferson County each week, year-over-year comparisons don't carry much weight.
Mortgage interest rates in 2026 should be nearly 6%, down 75 basis points from much of 2025. Buyers have already responded to lower rates this fall, asindicated by the increase in sales volume this year. The trend of more sales volume should continue next year, which will bring inventory down slightly. Looking at this year's price trends, I expect modest price growth next year. If mortgage interest rates dip below 6%, prices will firm up, and inventory will decrease further. Most of these developments will be modest, with stability in our housing market continuing into 2026.
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.
