Deschutes County Mid-Year Market Report: What the First Half of 2026 Tells Us

We're past the midpoint of 2026. With 2,340 closed residential transactions on record in Deschutes County since January 1st, there's now enough data to say something meaningful about where this market stands — and where it's headed as we move into the second half of the year.

The short version: Central Oregon's real estate market is performing better in 2026 than it did at this point in 2025. Median prices are up modestly, homes are selling faster, and the share of homes closing within 30 days has increased. It isn't a return to the frenzy of 2021, but it's a market with clear momentum.

Here's what the numbers show.

Year-Over-Year: 2026 vs. 2025

The most useful way to understand where the market is today is to compare it directly to the same period last year. Same county, same date range, same methodology — two snapshots, one year apart.

Source: Oregon Datashare / Flexmls via Cascades East Association of REALTORS®. Prepared July 26, 2026.

What the Numbers Are Telling Us

Prices are holding, not running

The median sold price is essentially flat year-over-year — $649,450 in 2026 vs. $650,000 in 2025. That's not a decline, and it's not a surge. It's a market finding a level and staying there. For sellers, that means the pricing discipline that worked in 2025 still applies. For buyers, it means the window of opportunity that opened when prices softened from their 2022 peaks hasn't closed — but it also hasn't widened further.

Homes are moving faster

Median days on market dropped from 33 days in 2025 to 31 days in 2026. More meaningfully, the share of homes selling within 30 days increased from 48.2% to 49.7% — nearly half of all closings. Those homes are averaging 99.2% of list price. The market is efficient at the right price point. Homes priced correctly are not sitting.

Volume is up, which matters

Total closed transactions increased 3.1% year-over-year (2,270 to 2,340), and total closed dollar volume rose from $1.833B to $1.885B. More homes are trading hands in 2026 than at this point in 2025. That's a signal of underlying demand, not a stagnant market.

The long-sitters are still a cautionary tale

Nearly 20% of homes still sat 121 days or more before closing — and those homes averaged only 89.6% of their original asking price. That gap hasn't narrowed meaningfully from 2025. The lesson remains the same: overpricing doesn't hold in this market. It just delays and discounts.

The Market at Two Speeds: DOM Breakdown

The bifurcation is stark. A well-priced home in Deschutes County closes in under 30 days at essentially full price. A mispriced home sits for four or more months and eventually sells at nearly 90 cents on the dollar relative to what the seller originally asked. The cost of overpricing, measured in time and money, hasn't changed.

Current Inventory

As of late July 2026, there are 1,530 active residential listings in Deschutes County. That's a meaningful supply — enough to give buyers real choices across price ranges and neighborhoods, while keeping seller competition genuine rather than overwhelming.

The 543 pending transactions currently under contract signal continued forward momentum into August. Pending volume is a leading indicator: today's pendings become next month's closings.

Mortgage Rate Context

Rates have moved since the spring. The 30-year fixed averaged 6.11% in mid-March 2026 (Freddie Mac PMMS). As of mid-July, the most recent PMMS reading puts the 30-year fixed in the mid-to-upper 6% range — slightly higher than spring, still meaningfully below the 7%+ territory of late 2023.

Note: Mortgage rates change weekly. For current rate information specific to your loan type and situation, speak with a licensed Oregon mortgage lender.

What This Means If You're Buying

• The best-priced homes in Deschutes County are still moving in under 30 days at 99% of list. If you find something that checks your boxes and is priced at market, move deliberately — not slowly.
• Roughly 20% of active inventory has been sitting 121+ days. These homes often represent negotiating opportunity — on price, on closing costs, or on terms.
• Rates in the mid-6% range are workable for many buyers. The buyers doing well right now are working with the market as it is, not as they hope it will be.
• With 1,530 active listings, you have genuine choice. Take the time to be specific about what you want, then move when the right fit appears.

What This Means If You're Selling

• Median prices are flat year-over-year. Price at market and you close in 31 days at 99% of list. Price above market and you'll likely join the 20% sitting 120+ days.
• Summer is not the end of the season. August and September remain active months in Central Oregon — particularly for buyers relocating before the school year or second-home buyers closing before fall.
• Condition still differentiates. With 1,530 active listings, buyers have options. A home that shows well, photographs well, and is priced at market will consistently outperform one that doesn't.
• If you've been on the market for 60+ days without an offer, the data is telling you something about your price. The market is not broken. The price may be.

The Bottom Line

The Deschutes County market in mid-2026 is stable, active, and honest. It rewards preparation and accurate pricing on both sides of the transaction. Volume is up from 2025, prices are holding, and homes priced correctly are selling efficiently.

That's not an exciting headline. But it's a good market to navigate if you know what you're looking at.

I've been working this market since 2017. If you'd like to talk through what these numbers mean for your specific situation — whether you're thinking about buying, selling, or just trying to get an honest read on where things stand — reach out. No sales pitch. Just a straightforward conversation.

John Payson · The Payson Group powered by Jason Mitchell Group
Licensed in Oregon and Washington since May 2007 · ThePaysongGroup.com

Data: Oregon Datashare / Flexmls via Cascades East Association of REALTORS® (CEAR). Closed residential transactions, Deschutes County, Jan 1–Jul 25, 2026 (2,340 transactions) and Jan 1–Jul 25, 2025 (2,270 transactions). Prepared July 26, 2026. Data deemed reliable but not guaranteed. Mortgage rate context: Freddie Mac PMMS®. This post does not constitute financial or mortgage advice.