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Mortgage rates are down by 5 basis points from last week, bringing the national average for a 30-year fixed-rate conventional loan to 7.35%. The Federal Reserve voted to hold rates today, with the next meeting on December 9. This is good news for buyers looking over the next several weeks, as inventory is still high and sellers are more open to negotiating than in the recent past. The mountains received a good taste of early snow, but weather in town has been relatively mild, continuing our beautiful fall weather. Buyers hoping to close by year-end are seeing better-than-expected conditions.
Ultimate Guide to Sisters Oregon
Supply of single-family homes in Deschutes County fell by 20 this week to 1,326, with 850 listings reducing their asking price by an average of 6.75%. This is a massive64% of the available inventory! Forty-five pending sales are up by 5 from last week, with 29 of those properties reducing their asking price by 8.33% before securing a contract. Sellers are accommodating, and buyers are taking advantage. Fifty-seven transactions closed this week, down by 12 from last week, with the average sold-to-original-list-price ratio at 93.45%.
Deschutes County Listings
Crook County supply is stable at 271, down just 1 from last week, with 151 (55.72%) of those listings reducing their asking price by an average of 6.81%. Seven pending sales are up from 4 last week, with 6 of those listings reducing their asking price by an average of 7.72% before securing a contract. Five closed transactions are down by 3 from last week, with the average sold-to-original-list-price ratio at 96.87%.
Crook County Listings
Jefferson County inventory decreased by 3 to 148 this week, with 91 (61.49%) decreasing their asking price by an average of 6.23%. Pending sales fell from 4 to 3 this week, and 1 of those listings reduced the asking price by 1.32% before securing a contract—five closed transactions match last week's total, with the average sold-to-original-list-price ratio at 99.02%.
Jefferson County Listings
Lower-priced listings have much narrower margins for sellers, so price reductions are not as dramatic as with more expensive properties. In Jefferson County, many sellers have been adjusting prices downward for some time, creating very appealing prices for buyers. But all across Central Oregon, prices are softening. It is too early to make any 2027 predictions, but today's conditions are favorable for buyers, especially when you factor in interest rate bu downs paid by sellers. Whether you have questions about how to structure a deal to take advantage of a rate buydown, or you need an analysis to check your position in the market, I am available when you are!
Market analysis is especially important right now, and exceedingly challenging as our market adjusts to the current economic climate. I produce these analyses several times a week, and I would be happy to run a report based on your specific needs. As quickly as the market is adjusting, you might be surprised by what you find!
Ultimate Guide to Bend, Oregon
Want a market analysis tailored to your goals or a seller/buyer strategy for Central Oregon luxury properties? Reach out, and I’ll prepare a custom report.
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