March 2025 Market Update and Insights

Another month gone by, another market update! Let’s get into it.

Median close price is nearly flat month over month, down 0.17%. Home sales are up 25.26% and months supply of inventory is down 15.76%. Pending sales are up over 40% since last month. This is great news for home sellers! The market is moving!

Great news for buyers, too, with plenty of inventory to choose from - just over 10,000 listings in the market. But you still want to be speedy with your decisions as the median days in the MLS dropped from close to 50 to the low 20s.

Closed prices over the last year are level, even a little lower than March of last year. Prices really are leveling out in our market after the COVID years of wild growth.

There is a lot of chatter about a recession right now. The stock market is taking its biggest hits since COVID. I always like to refer back to this graph that shows the 2008 housing bubble. We are seeing an increase in housing inventory, but we are nowhere near the 2008 numbers. Housing remains a strong, long-term investment today.

I will wrap this up with a quote from Megan Aller:

“Buyers, the conditions you’ve been waiting for are taking shape. Home price appreciation has cooled, interest rates have stabilized, and negotiating power is returning to the table.”

If you have any questions of how this market impacts you as a buyer or a seller, please reach out! I can run statistics for your zip code and price point, or simply provide a neighborhood real estate review if you are curious.