Inventory growth above $1M in Central Oregon was modest this week. Still, with considerably better weather on the horizon, I expect more listings to trickle into the market over the next few months. Most high-end sales in Central Oregon occur from spring through fall, and far more buyers engage at this time of year. That engagement creates educated buyers who know the inventory well, especially in the relatively small market of over $2M. One dynamic to consider for sellers, if you are listing a desirable property, is waiting, which can get the attention of buyers scouring the MLS for the right fit. When unique, sought-after properties hit the market in late summer, buyers who have held off often jump on excellent properties in trophy locations. 

Deschutes County $1M - $2M

Nine more homes are actively listed in Deschutes County this morning than last week, for a total of 334. It has been a busy week in this price tranche, with 20 pending sales and 18 closed transactions. The average pending sale price was $1,387,650, and the average closed price was $1,408,855, with only ten days listed for the closed properties. Several homes are at the upper end of this price range, but most of the activity skews towards the $1.5M range and below. The upper range can be a dead zone in this segment, but every property is unique, and the mix of available homes changes daily. 

Deschutes County $2M - $3M

There were five more listings between $2M and $3M than last week, for a total of 93. One pending sale in Broken Top listed at $2,885,000 was recorded this week, with three closed transactions averaging $2,468,333. The closed transactions were in Caldera Springs, Discovery West, and Tumalo. This mix shows much diversity in this price range, with great options spread throughout Deschutes County. 

Deschutes County over $3M

Two more listings are in the MLS above $3M than last week at 35. No pending sales occurred, with one closing in Tetherow at $3,150,000, listed for $3.4M. 

Crook County over $1M

There are 59 listings in Crook County above $1M, one more than last week. No sales were pending in the MLS, but two were recorded at $1,720,000 and $2,070,000 in Powell Butte and Brasada Ranch, respectively. 

Brasada Ranch

In next week's email, I will break down sales through early May from January 1, 2018, to 2025. Following the weekly numbers closely can provide an excellent sense of market trends today. However, without context, today's trends don't have much perspective. Seeing the trends over the past several years provides a crucial, bigger-picture perspective vital to making a good decision in our market. While I may not have a crystal ball for the future, the population growth, demographics of new residents, and move to hard assets from the equity markets are all bullish indicators for Central Oregon high-end real estate. 

Property Search Links

Active Inventory Market Trends

The Market Action Index charts below show how areas in Central Oregon behave in today's market. Every zip code, town, neighborhood, and price range has a unique dynamic, and the Market Trend Reports are a big help in seeing how your community is performing. Please review these reports weekly to follow trends or ask me to run a detailed analysis for a better view of price activity. Once registered, you can use the search bar at the top of these reports for any city or zip code in the country! Select "segments" from the reports for a price breakdown by quartile that shows how different price points perform.

Enjoy Bend Life Listings

PENDING! 16033 Alpine Drive, La Pine - This spacious, recently renovated home on a large lot is turnkey and ready for a lifetime of memories! The essential details have been addressed with an updated concrete septic tank, a well, an updated drain field, a newer garage, and new kitchen cabinets with quartz countertops and stainless appliances. $425,000

2523 NE Purcell, Bend, is a "better than new" townhouse with an AC, washer, dryer, and all appliances included. It is conveniently located near St. Charles Medical Center and East Bend shopping. $519,000

Pending! 63873 Hunters Circle, Bend, is a "like new" home built in 2019 with Cascade Mountain views from the kitchen sink and primary bedroom. Three bedrooms and two bathrooms with a spacious garage in the conveniently located Northpointe neighborhood, this property is priced to sell at $575,000.

17945 Mountain View Road, Sisters, located in one of the most incredible locations in Central Oregon. This home is perched on the edge of rimrock overlooking the Whychus Creek Canyon and the Cascade Mountains, including Mt. Jefferson and Black Butte. With no other home in sight, the views and serene location are truly one-of-a-kind! $3,999,000.

510 Grant Avenue, located in the picturesque town of Maupin in Wasco County, 510 Grant is conveniently located near the Deschutes River. Maupin is a hub for fishing, rafting, and hunting, and this home has tons of potential! Priced to sell at $219,000!