As someone who’s spent decades helping clients navigate the ups and downs of our real estate market, I’m always watching the numbers for you. Late in Q3, about 21% of active listings saw price cuts, and inventory reached over 1.16 million homes—now just 9% shy of what we typically saw before the pandemic. Buyer activity stayed cautious, with homes under contract down about 4% year-over-year for the second consecutive month, a clear sign that higher mortgage costs continue to impact affordability. The national median list price was around $419,000, down roughly 1% both month-over-month and year-over-year, with price per square foot dropping about 2% from last year. Sellers are still engaged, with about 6% of listings being delisted—holding steady from last year—while more are opening up to negotiation and price reductions. The next big question is whether these additional price cuts will encourage more buyers to sign contracts, or if the current balance of rising supply and softer demand will keep this adjustment phase going a bit longer. My approach centers on integrity and deep market knowledge, so if you’re weighing your options, I’m always here to provide insight tailored to your needs.
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