Market Update - 10.13.25
August and September offered an encouraging uptick in pending sales. August marked the highest number of monthly pending sales in the last four years (26 sales). September followed with a strong performance (20 sales).
The initial interest rate drop made by the Federal Reserve in September and potential subsequent reductions could set the stage for a stronger 2026 real estate season.
As mentioned earlier this year, the inventory has returned to pre-Covid levels.
The graph above shows the market starting into its off-season inventory reduction. In one sense, the market has returned to pre-Covid rhythms. What has changed of course, is the explosion of pricing beginning with COVID in 2020.
The graph above shows the median home price climbing from $400,000 in 2018 to over $700,000 by 2022. (Each point represents twelve months of averaged data which shows the broader trend.)
Buyers, you still have excellent strength in this market. Don’t be afraid to make a lower offer than you think might be accepted. Especially in the fall, some Sellers gain extra motivation as winter approaches. But also don’t be surprised by patient Sellers who refuse to budge on price. There are many Sellers who can afford to be patient.
Sellers, if you want to sell in this market, please price soberly.
