Spring has arrived in Central Oregon, and with it comes a shift in housing market dynamics that both buyers and sellers should understand. The data tells a more nuanced story than the usual “it’s a great time to buy or sell” talking points, so let’s look at what’s actually happening.
The Numbers Right Now
As of mid-March 2026, Deschutes County has approximately 960 single-family homes on the market, up from 927 at the same time last year. That’s a modest 3.6% increase in inventory, and while it won’t transform the market overnight, it represents a continuing trend toward more balanced conditions.
Mortgage rates are sitting at 6.31% for a 30-year fixed as of this writing. That’s down from the 6.8% range we saw late last year, and it’s making a measurable difference in buyer activity. Our market reports show pre-approval applications are up roughly 12% compared to February.
The sold-to-list ratio across the region is 97.18%, which tells us sellers are getting close to asking price but are no longer commanding the premiums they enjoyed in 2021 and 2022. Median days on market in Deschutes County are running at 58, compared to 52 a year ago. Homes are still selling, but buyers have a bit more breathing room.
What Is Driving the Shift
Three factors are shaping the spring market:
Gradually easing mortgage rates. The 10-year Treasury yield has settled into the 3.90-4.30% range this spring, pulling mortgage rates down from their late-2025 peaks. When rates dipped below 6.5% in January, we saw an immediate uptick in buyer activity. The relationship is predictable: housing data improves when mortgage rates approach 6%, and weakens above 7%.
Seasonal inventory gains. Every spring brings more listings, but this year’s gains are stacking on top of an already-elevated inventory base. Crook County listings are up 8% year over year, and Jefferson County is seeing similar increases. More supply means more options for buyers and more competition for sellers.
Builder activity. New construction permits in Deschutes County are tracking about 5% above last year. Builders are responding to the demand they see in the mid-range price band ($450,000 to $650,000), which is where most first-time and move-up buyers are shopping.
City by City Snapshot
Bend
Median price is holding steady around $685,000 for single-family homes. The luxury segment above $1 million has softened, with days on market stretching past 90 in some cases. The $500,000 to $700,000 range remains the most competitive, with well-priced homes in good school districts still drawing multiple offers.
Redmond
Redmond continues to offer value relative to Bend, with a median price around $465,000. Inventory has grown faster here than in Bend, giving buyers more negotiating leverage. The absorption rate suggests about 3.8 months of supply, up from 3.1 a year ago.
Sisters, Sunriver, and La Pine
Sisters remains supply-constrained with median prices around $625,000 and limited inventory. Sunriver’s vacation-home market is showing some softness as higher interest rates reduce the pool of second-home buyers. La Pine continues to attract buyers priced out of Bend and Redmond, with a median around $385,000.
What This Means for Buyers
If you’ve been watching from the sidelines, the spring 2026 market is offering something that was hard to find in recent years: options. You have more homes to choose from, less pressure to make snap decisions, and a bit more room to negotiate. That said, well-priced homes in desirable locations are still moving quickly. The market hasn’t flipped to a buyer’s market; it’s moving toward balance.
The practical advice: get pre-approved now if you haven’t already. If rates continue to ease toward 6%, competition will increase. Buyers who are ready to move when they find the right property will have an advantage over those still figuring out their financing.
What This Means for Sellers
Pricing matters more than it has in years. The days of listing high and waiting for a bidding war are largely behind us outside of the most desirable neighborhoods. Homes priced within 3% of market value are selling in under 45 days. Homes priced 5% or more above comparable sales are sitting, accumulating days on market, and eventually requiring price reductions that often overshoot the other direction.
Work with an agent who understands the data and can help you price strategically from day one. A well-priced listing in the current market will still attract strong offers.
Looking Ahead
Our outlook for the remainder of spring and into summer: expect inventory to continue climbing through June, mortgage rates to fluctuate in the 6.0% to 6.5% range barring any economic surprises, and transaction volume to run moderately above 2025 levels. The market is functional, liquid, and gradually normalizing after several years of unusual conditions. That’s not exciting headline material, but it’s good news for anyone who wants to buy or sell a home based on their actual needs rather than fear of missing out or panic about a crash.
We publish detailed data for every city and county in our housing market section. Check back regularly for updated numbers, or reach out to our team to discuss your specific situation.