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After the Federal Reserve held rates at its last meeting, mortgage rates have softened by a few basis points. Still, the market shift has already occurred, and the trend for the rest of 2026 is set. At the top of the market, activity is steady, and prices are firm, with double-digit price reductions at the lower end. Inventory is holding steady and even increasing in some price tranches, which is atypical for this time of year. Cash buyers are in a particularly strong position in today’s housing market.
Ultimate Guide to Sisters Oregon
Deschutes County supply for single-family homes between $1 million and $1,999,999 increased by 4 this week to 326. One hundred ninety-nine of the active listings dropped their list price by an average of 8.15%. Pending sales fell to 5 this week, down from 9 last week and 14 three weeks ago. Four of the 5 pending sales reduced their asking price by 10.5% before securing a contract. Seventeen closed transactions this week is up 4 from last week, with 14 of those listings reducing their asking price by an average of 9.91% before securing a buyer. The sold-to-original-list-price ratio was 88.29% this week.
Deschutes County $1M - $2M
Inventory of Deschutes County listings between $2 million and $2,999,999 dropped from 66 to 59. Twenty-one of the active listings dropped their list price by an average of 9.95%. One pending sale matches last week's volume: a home listed at $2 million in Tetherow, with a 12.85% price decrease before securing a contract. Four closed transactions also match last week’s volume, with three of those listings reducing their asking price by an average of 14.64% before securing a buyer. The sold-to-original-list-price ratio was 85.48%.
Deschutes County $2M - $3M
Homes in Deschutes County listed over $3 million dropped by 1 this week to 36. Seventeen of the active listings dropped their list price by an average of 14.36%. No pending sales occurred this week, and one transaction closed in Broken Top at the full list price of $4,490,000.
Deschutes County over $3M
Crook County listings over $1 million dropped from 80 to 79 this week, with 37 of those listings decreasing their asking price by an average of 6.17%. Two sales are pending this week at $1,180,000 and $1,749,000, with the latter dropping 10.26% before securing a contract. One transaction closed this week at $1,800,000, 93.5% of the original list price.
Powell Butte Listings
Deschutes County and Crook County Farm listings over $1 million are both steady at 14, with no activity this week.
Central Oregon Farm Listings
With Thanksgiving only a month away, the trends we are seeing today will hold through the end of the year. There is every reason to believe the Federal Reserve will raise the overnight rate by 25 basis points at the December meeting, pushing the current housing market trends into early 2027, and possibly beyond. This is the biggest shift in the Central Oregon housing market since the price run-up during the pandemic. Double-digit price-reduction averages have been rare since the market peaked in 2022, but now seem commonplace as sellers adjust to attract buyers. Cash buyers are in a particularly strong position, while sellers need to price for the current market or risk sitting on the sidelines.
Ultimate Guide to Bend, Oregon
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