Inventory’s Up, But Buyers Are Picky
Active inventory in August jumped 4.4% from July, landing at 566 homes on the market. That’s more choices for buyers, which is typically great news, except that buyers are looking at homes and waiting for something better to come on the market, unless it is a great home.
More listings also mean sellers are facing more competition. So if you’re planning to list, pricing it right matters more than ever. (Think: Goldilocks pricing—not too high, not too low.)
Median Home Price: Holding the Line
The median sales price stayed steady at $440,000—exactly what it was in July. Compared to August 2024, we’re looking at a modest 2.3% increase. That’s not headline-grabbing, but it shows stability.
Fewer Closings, Slower Pace
Closed sales dipped by 13.9% from last August, and homes are sitting for a median of 63 days—up just a tick (1.6%) from July. Translation: Buyers are moving a little slower, and sellers need to pack a little patience.
The Buyer-Seller Balancing Act
Months of inventory nudged up to 3.3 months, a 12.9% increase from July and about what it was in May. We’re still not in full “buyer’s market” territory, but this shift suggests more balance is creeping in.
And that “List Price Received” stat? It’s sitting at 99.3%, which means most sellers are getting almost what they ask—but a little negotiation is back on the table. (Welcome back, inspection contingencies.)
So, What Does This All Mean?
Whether you’re buying or selling, this market is about strategy over speed.
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Buyers: You’ve got more inventory to pick from, but the good stuff still moves fast. Don’t let decision fatigue cost you the home you want.
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Sellers: You’re still in a decent position—if your pricing, presentation, and marketing are on point.
This is your monthly reminder that real estate isn’t one-size-fits-all. It’s hyper-local, time-sensitive, and powered by people making life moves—not just market math.
Need help navigating it all? You know where to find us.