The real estate market is constantly shifting, and numbers tell the story best. Here’s a quick snapshot of today’s conditions:
📊 Key Stats
Mortgage Rates: Averaging around 6.75% (mid-6s to low-7s depending on loan type).
Inventory: Up 12% year-over-year, giving buyers more options compared to last summer.
Home Prices: Up about 3% year-over-year — growth has slowed but remains positive.
Days on Market: Homes are selling in an average of 28 days, compared to just 18 a year ago.
🔎 What It Means
For Buyers: More inventory and slower sales pace = a bit more breathing room. Pre-approval is still essential, but you’re less likely to face bidding wars than in 2021–2022.
For Sellers: Buyers are more cautious and selective. Staging, professional marketing, and competitive pricing remain key to getting top dollar.
✨ Final Thoughts
Overall, today’s market is more balanced than in recent years. Prices are still inching upward, but buyers are negotiating harder, and homes take a bit longer to move.
Whether you’re buying, selling, or just keeping an eye on your neighborhood, staying up-to-date with these numbers helps you make smart decisions.
📲 Want a custom update for your area or even your property specifically? Reach out — I’m always happy to run the numbers for you.