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Inventory growth has slowed with the arrival of peak selling season. Still, all three counties of Central Oregon have more homes for sale this week than last. More listings will trickle in until August or September, when the seasonal decline in homes for sale tapers off towards winter. Typically, the Fourth of July is relatively slow for showings and activity, with many buyers and sellers on lakes and hiking trails or at concerts and barbequing with family and friends. The holiday-shortened work-week will reduce the sales and pending activity before everything picks up for one of the busiest stretches of the year, from July 4th to Labor Day. I wish all of my readers a safe and happy Fourth of July!
Deschutes County Listings
This morning, 1211 single-family homes are listed for sale in Deschutes County, an increase of eighteen from last week. Seventy-four pending sales, at an average price of $887,196, and ninety-two closed transactions, at an average price of $818,817, round out the week. The closed sales show median days on the market of twenty, with the median price change at -3.33% and the average at $2.24%.
Central Oregon Luxury Listings
In Deschutes County, acreage property in the right location is in such high demand that prices over $5M are becoming commonplace. Deschutes County grew by over 6,000 residents last year; a solid percentage are very well-qualified buyers. While some great new listings are available, we have a limited amount of inventory in the high-end that would soften prices. There are only so many large acreage locations in cool areas, and those are selling and creating comps that set the floor very high. For illustration, the median sales price in 2023 YTD, compared to 2024 across all price points in Deschutes County, is up 8.7%. In YTD 2023, eight sales over $3M at a median of $3,341,120 compared with YTD 2024, at thirteen sales and a median of $3,732,625. That's an increase of 11.7% in price and 62.5% in volume. The high-end is outpacing the rest of the market for price appreciation. Central Oregon is on the map for high-end buyers, with the prices to prove it.
Crook County Listings
Crook County inventory this morning is up seventeen from last week, at 159 single-family homes for sale. Only one pending sale, at $499,900, was registered for the week, with seven closed transactions at a median of $714,000 and an average of $832,340. I expect next week's numbers to be down considerably, with all of the fantastic Fourth of July events taking place in Crook County, before activity picks up for the second half of peak selling season. This weekend, boating and water skiing activities on the Prineville Reservoir will be at peak season levels.
Jefferson County Listings
Jefferson County's activity was solid last week, with six pending sales and eight closed transactions. Inventory in the county is up three to 105. The average pending sale price for the week was $481,283, with the closed transaction average at $420,062. Lake Billy Chinook, the reservoir at the confluence of the Metolius, Deschutes, and Crooked Rivers, will be filled with boaters and water sports enthusiasts for the holiday weekend, one of the busiest of the year. The second home community of 3 Rivers Recreation will be bustling!
Testimonials
I will be working through the holiday, so feel free to reach out if any real estate questions arise between all the fun activities you have planned. Scheduling showings can be tricky with so many families having weekend plans, but I am always happy to do my best to get you into any home you are interested in. Whenever you are ready, I am available to help you navigate any of your real estate needs.
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