Central Oregon Market Update · Week of August 8, 2026Bend & Central Oregon Real Estate: StabilityBend · Redmond · La Pine · Sisters · PrinevilleBy Jordan|
Central Oregon Market Update for June 25th 2026
Dated: June 26 2026
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Research & Analysis by Jordan Marx | Week of June 22nd, 2026
$692.5K County Median Sold | 5.47 Months of Supply | 98.8% Sold-to-List | 6.59% OR 30-Yr Fixed |
Straight from RPR and the MLS of Central Oregon — here's where Deschutes County actually stands as May closes out. The median sold price rose to $692,500 (up 6.5% for the month), homes are still closing at 98.8% of list, and inventory has loosened to 5.47 months of supply. It's still a seller's market — but a more balanced one than we've seen in a while. So when you read national headlines about a "local price crash," know that the local data of record tells a very different story. This is normalization. Here's the full read.
Data source: RPR® Market Trends — Deschutes County, OR (Single Family + Condo/Townhouse/Apt.), May 2026 figures pulled 6/25/2026. Rates, permits, and migration data sourced separately as noted.
Section 1 · Mortgage & Interest Rates (Daily)
OR 30-Yr Fixed 6.59% ▼ 0.41 pts vs Jan 2025 baseline (7.00%) | OR 15-Yr Fixed 5.81% ▼ 0.39 pts vs Jan 2025 (6.20%) |
30-Yr FHA 6.31% ▼ 0.19 pts vs Jan 2025 (6.50%) | 30-Yr VA 5.75% ▼ 1.05 pts vs Jan 2025 (6.80%) |
Freddie Mac PMMS (week ending June 18, 2026): the 30-Yr Fixed averaged 6.47% and the 15-Yr Fixed averaged 5.81% — both edged down from the prior week (6.52% / 5.84%) and well below where rates sat a year ago.
— Freddie Mac Primary Mortgage Market Survey
What it means: Financing is the friendliest it's been since early 2025 — conventional 30-year money in the mid-6s, 15-year loans under 6%, and VA-eligible buyers holding the strongest hand in the room around 5.75%, roughly 80–90 bps below conventional. Every product sits below its January 2025 baseline. For buyers, "marry the house, date the rate" is very much the play.
Section 2 · Listings, Pendings & Market Activity (RPR · May 2026)
New Listings — Median List Price RPR · May 2026 | $749,999 ▲ 8.7% MoM |
New Listings — Count RPR · May 2026 | 681 ▼ 7.5% MoM |
Active Listings — Median List RPR · May 2026 | $725,000 ▲ 3.7% MoM |
New Pending — Median List RPR · May 2026 | $686,000 ▲ 1.6% MoM |
Median Days on Market RPR (Median Days in RPR) · May 2026 | 26 ▲ 23.8% MoM |
Median $/Sqft (New Listings) RPR · May 2026 | $403 ▲ 3.3% MoM |
What it means: Inventory is rebuilding on its normal spring schedule. Active listings have climbed from roughly 1,020 in January to about 1,830 in May, giving buyers the deepest selection in a couple of years — while closed sales (368 in May) keep climbing back toward the seasonal norm. Days-on-market ticked up to 26, but homes are still moving and still closing within a whisker of asking. More choice, steady absorption: the textbook profile of a market easing from hot toward balanced.
Section 3 · Prices & Closed Sales (RPR · May 2026)
Deschutes County Market Type
Seller's Market — Loosening
5.47 months of supply · 98.8% sold-to-list · May 2026
County Median Sold $692,500 ▲ 6.5% MoM RPR MLS · May | Sold (Public Records) $699,000 ▲ 8.4% MoM RPR deeds/assessor | Median Est. Value $667,030 ▼ 0.7% YoY RPR AVM · 12-mo |
THE PRICE LADDER · LIST → SOLD (RPR MEDIANS, MAY 2026)
| Stage | Median Price | MoM |
| New listings (coming on) | $749,999 | ▲ 8.7% |
| Active listings (end of month) | $725,000 | ▲ 3.7% |
| New pending | $686,000 | ▲ 1.6% |
| Pending (end of month) | $649,950 | ▼ 1.4% |
| Sold (MLS) | $692,500 | ▲ 6.5% |
What it means: This is normalization, not a correction — and the RPR data makes it unmistakable. The county median sold price actually rose 6.5% on the month to $692,500, and homes are closing at 98.8% of list. The real story is the price ladder: sellers list at a $749,999 median, but homes go pending and close in the $650K–$700K range. That spread between aspirational list prices and what actually closes is exactly where buyer negotiation lives this summer — well-priced homes move, over-reaches sit and reduce.
Section 4 · Construction & Building Permits (Monthly)
Bend MSA Total Permits, NSA FRED BEND441BPPRIV · Apr 2026 | 193 units |
Bend MSA 1-Unit Permits, NSA FRED BEND441BP1FH · Feb 2026 (latest) | 139 units |
Bend MSA Permits, Seasonally Adj. FRED BEND441BPPRIVSA / BP1FHSA | Not yet refreshed |
What it means: New construction has cooled off the 2021–22 peak, so this cycle's supply rebuild is coming largely from resale inventory, not new builds — though 193 permits in April keeps the pipeline active. With Central Oregon still drawing in-migration, builders are meeting demand rather than flooding it, which puts a floor under values rather than threatening them.
Section 5 · Jobs & In-Migration (Monthly)
Oregon Net International Migration U.S. Census via KTVZ · Jul '24–Jul '25 | +9,600 |
Oregon Net Domestic Migration U.S. Census via KTVZ · Jul '24–Jul '25 | +2,200 |
Deschutes Co. Unemployment BLS / FRED · 2026 | 4.4% |
Central OR Demand Driver KTVZ / QualityInfo · 2025–26 | International in-migration |
Section 6 · Local Sentiment (Weekly)
Market Action Index RPR market type · May 2026 | Seller's, easing to balanced |
Buyer Behavior RPR pendings & sold-to-list · May 2026 | Closing at 98.8% of list |
2026 Outlook (30-Yr Rate) Freddie Mac / Fannie / MBA / NAR consensus | 5.8–6.5% by Dec |
The Bottom Line
The data of record tells the true story: Deschutes County prices are holding, not falling — median sold up 6.5% on the month to $692,500, homes closing at 98.8% of list, and inventory loosening to 5.47 months so buyers finally have real choice. For sellers: this is a confident season to list, but price to the market — the gap between $750K list prices and ~$690K closings is where deals are won or lost. For buyers: rates are better than a year ago and you finally have options — just move decisively on well-priced homes.
Jordan Marx
Licensed Real Estate Broker | eXp Realty | Central Oregon | 541-841-9727
Market data: RPR® Market Trends, Deschutes County, OR (Single Family + Condo/Townhouse/Apt.), May 2026, pulled 6/25/2026. · Rates: Bankrate Oregon, Freddie Mac PMMS, Mortgage News Daily, Veterans United · Permits: FRED · Migration: U.S. Census via KTVZ · Jobs: BLS / OR Employment Dept. Information deemed reliable but not guaranteed. Data as of June 25, 2026.
Jordan Marx
As a licensed real estate broker with eXp Realty, I help buyers and sellers across Central Oregon—including Bend, Redmond, La Pine, and Madras—navigate every stage of the real estate proce....
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