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Key Take-Aways:
- The Average Sales Price increased 7% to $409,251 compared to $382,458 over the same period in 2024.
- Homes continue to sell quickly with an Average Days on the Market of 29 days.
- That being said, homes that are priced well still sell within the first few days of being on the market, resulting in a Median Days on Market of ONLY 6 days on average over the last 3 months.
- The inventory of homes available for sale increased 13%, with an average of only 1,052 homes/month available for sale, up from the average of 919 homes/month we had back in 2024.
- With a rate of over 600 homes/month selling, we are still running under a 2-month supply of homes for sale.
- While Interest rates increased just .12% to 6.58% according to Mortgage News Daily, they are still significantly higher than they were just a few years ago, which is keeping the market stagnant.
