Available inventory is a significant metric impacting the Central Oregon housing market now and into the future. While more homes for sale this year than in the recent past has helped selection, prices have remained firm. However, there are signs that economic uncertainty might be slowing price appreciation. Also, after a stretch of mortgage rates hovering around 6.2%, the national average for a fixed-rate 30-year conventional mortgage this morning is 6.62%. Inventory did begin the seasonal decline more or less on schedule, but that decline has been slow, keeping conditions moderately in favor of buyers. How low inventory declines this winter will significantly impact spring market dynamics. Lower mortgage rates and a steady economy would mop up available inventory and put upward pressure on prices. However, a slowing in economic conditions and more inventory could derail that.

Deschutes County Listings

The inventory of single-family homes in Deschutes County is 1174, down modestly from last week. Pending sales of 71 align with recent trends but are down from last week's robust 89. Thirty-eight properties closed, a relatively small number compared to the previous few weeks and the lowest number since March 2024. This week in 2023, 846 single-family homes were listed for sale, compared to 905 in 2022. 

Crook County Listings

Crook County's inventory grew by one this week to 180 single-family homes listed. Eight pending sales and seven closed transactions show steady activity for the county. One hundred forty-four homes were listed this week in 2023, compared to 149 in 2022.

Jefferson County Listings

Jefferson County also experienced inventory growth, up two from the previous week to 118. Six pending sales and three closed transactions are consistent with a typical week in the county at this time of year. This week in 2023, 85 homes were listed, with 88 in 2022.

Sisters, Oregon Ultimate Guide

Comparing inventory today in all three Central Oregon counties to the past two years shows a significant increase in homes for sale. Buyer conditions are better than they have been in quite a while, but transactions are lagging. If this trend continues and homes for sale stay elevated, it could turn the expected dynamic of low rates, less inventory, and higher prices on its head this spring. 

Property Search Links

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!

My Listings

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. NEW PRICE! $539,000

Click the link below to see 17037 Golden Stone Drive, located on the fourth fairway of the Aspen Lakes Golf Course in beautiful Sisters, Oregon. This property's location, community, and attention to detail are stunning! NEW PRICE! $1,999,999

Attention, Sunriver pilots! I have a coveted airplane hangar listed at the Sunriver Airport. Hangars anywhere in Central Oregon are in high demand, and in Sunriver, the turnover of hangar owners is extremely low. The Sunriver Airport is open 24 hours a day, year-round, for pilot convenience.

The Diamond Peaks neighborhood at Crescent Lake offers some of the best recreational opportunities in the area. With proximity to the Willamette Pass ski resort, the Pacific Crest Trail, hundreds of miles of mountain bike trails, and Crescent Lake, the area is an outdoor enthusiast's dream! Check out the lots I have listed in the link below, or go to the Crescent Lake or Diamond Peaks pages of my website.