The real estate market is showing continued signs of strength and stability for sellers. With low inventory, quick sales, and competitive offers, current trends are shaping an environment where sellers have the upper hand and buyers must act fast. Below, we break down the key metrics driving today’s market and what they mean for you.
Inventory Remains Critically Low
The Months Supply of Inventory is currently at 1.23, meaning that if no new homes were listed, it would take just over a month to sell through all the available properties. This number is significantly below the 4-6 months typically considered a balanced market, highlighting how limited the housing supply truly is.
Stability in Supply Trends
Despite the tight inventory, the 12-Month Change in Months of Inventory has only increased by 0.06%. This marginal growth shows that the market is holding steady, and that new listings are not entering the market fast enough to meet demand. For sellers, this reinforces a favorable landscape; for buyers, it means heightened competition.
Homes Are Selling in Record Time
One of the most telling signs of buyer urgency is the median days on market, currently sitting at just 6 days. Homes are moving quickly—often with multiple offers—making it essential for buyers to be pre-approved and ready to act the moment they find a property that fits their needs.
Buyers Are Meeting (or Beating) Listing Prices
The Sold to List Price Percentage is at 1.02%, indicating that homes are selling at, or even slightly above, their asking prices. This reflects a competitive environment where buyers are willing to stretch their budgets to secure the home they want, and sellers are seeing offers that meet or exceed their expectations.
Home Values Continue to Climb
The Median Sold Price in the current market is $370,000. This price point is a reflection of both limited inventory and sustained buyer demand. With prices holding strong, sellers are in an excellent position to maximize their equity, while buyers must be prepared to enter at market value or above.
What This Means for Buyers and Sellers
All of these indicators point to one clear takeaway: we are in a strong seller’s market.
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For buyers: Expect tight competition, limited inventory, and the need to move quickly. Having financing in place and making strong, clean offers will be essential to success in this market.
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For sellers: This is a great time to list. Homes are selling fast, often with multiple offers and minimal price negotiation. If you've been considering selling, current conditions could work strongly in your favor.
Have questions about your local market or considering buying or selling a home this year? Feel free to reach out—we’re here to help you make informed, confident decisions in any market condition.
