May 2025 Market Update you Never Asked For, but here it is anyway…

The numbers are in, and if you're curious about what the real estate scene looked like in May, here’s the scoop. Whether you're planning to buy, sell, or just like to keep tabs on the market, this update's for you.

📊 Market Activity at a Glance

Let’s start with how busy the market was:

• New Listings: 986 homes hit the market (⬆️ 4.6% from last year)
   
• Pending Sales: 616 homes went under contract (⬇️ 6%)
   
• Closed Sales: 534 homes officially sold (⬇️ 4%)
   

So, what does this mean?
While more homes are being listed, fewer are going pending or closing compared to last year. Buyers are still active—but they're taking their time and being more selective.

💰 Home Prices Continue to Rise

Good news for sellers: home values are still on the upswing.

• Average Sale Price: $617,100 (⬆️ 4.6% YoY)
   
• Median Sale Price: $544,000 (⬆️ 3.2% YoY)
   

Even with fewer sales overall, demand and pricing remain strong.

⏳ Homes Are Selling Faster

Homes are spending less time on the market compared to April:

• Average Market Time: 50 days (down from 65 last month)
   
• Inventory: 3.4 months of available homes
   

That jump in inventory means more choices for buyers—but it’s not a saturated market just yet.

🔎 What This Means for You

Thinking of Selling?

✔️ You’re entering a market where inventory is growing, but prices are still climbing.
✔️ If your home is priced right and presented well, you’ll stand out.
✔️ Buyers are motivated—but not rushing—so marketing and strategy matter.

Thinking of Buying?

✔️ You’ve got more listings to explore than earlier this year.
✔️ Less competition means more time to choose and possibly room to negotiate.
✔️ Waiting? Prices are still going up, so timing could make a difference in your budget.

If you're wondering what all this means for your specific neighborhood or home, let's talk. I’d be happy to help you sort through the details and see what your options look like right now.

📩 Message me anytime or give me a call—I'm always here to help you navigate the market.