Q3 2025 Market Update:

More Inventory, More Sales, More Momentum

For a “down” market, lots of numbers are up… Before diving into the details, here is the snapshot.

Market at a Glance (Q1 through Q3)

More supply, more sales, higher prices, and slightly longer timelines. The market is healthier and more balanced than last year.

Inventory and New Listings: More Choice Without a Slowdown

Q3 closed with 256 active listings. That is up from 235 in 2024. Inventory started tight, then ramped up through the summer, peaking in September. Buyers have more options, but demand has not pulled back.

There were 367 new listings through Q3, compared to 318 last year. March led with 58 new properties, followed by June and August at 57 each. Nearly all listings brought to market in spring were absorbed right away, with only 10 still available. Inventory came from both new spec homes and existing owners moving up or moving out.

Pending and Closed Sales: Strong Activity Into Fall

Pending contracts ended Q3 at 40, the highest level of the year and well above the 30 pending deals at the same time in 2024. That late-season strength means closings are lined up for Q4. Historically, September and October deliver many of the year's closings.

Closed sales reached 205 through Q3. That is a 23.5 percent increase over the 166 closings by this point in 2024. The summer carried most of the activity, and unlike last year, demand stayed intact through early fall. Buyers did not step back just because inventory grew.

Prices and Volume: Bigger Sales and a Higher Middle

Total sold volume reached $217.5M through Q3, compared to $168.8M last year. That growth comes from both more transactions and higher sales prices. Average price rose to $1.106M, up from $1.013M. Median price saw an even bigger jump to $779,500, compared to $653,250 in 2024. The middle of the market moved up, not just the luxury tier. Summer marked the pricing peak, followed by the usual cool-down into fall. Even with that dip, 2025 held a higher pricing level throughout the year.

Negotiation and Buyer Behavior: More Leverage, Not Control

The sale-to-original-list-price ratio slipped to 92.3 percent. Last year it was 94.3 percent. With more homes to choose from, buyers had room to negotiate. Bidding wars were less common, and most deals involved some back-and-forth. Well-priced homes still performed. Overpriced listings simply took the discount the market assigned them.

Days on Market: Longer Timelines Reflect Balance

Average days on market stretched to 130, up from 108 in 2024. Median days on market rose to 121, compared to 67 last year. Spring moved faster, while late summer stretched out as buyers compared, inspected, and negotiated.

Longer timelines do not signal weakness. They reflect increased selection and more thoughtful decision-making. Sellers should plan accordingly and present and price in line with buyer expectations.

Months of Inventory: A Much Better Absorption Rate

Months of inventory averaged 9.85 through Q3. Last year it was 15.67. Even with more actives, the market is absorbing homes at a much stronger rate than in 2024. That is what a functioning, non-frenzied market looks like.

Is the Market Down? The Data Says No.

Plenty of people spent this year wondering if the market was sliding. Buyers referenced crashes. Sellers worried about timing. A few agents even predicted a correction. Some days, it was easy to feel the same way.

But the numbers tell another story.

1. Demand is up

2. Prices are up

3. Total volume is up

4. Transaction count is up

5. Inventory is being absorbed far better than last year

For a so-called “down” market, a lot of fundamentals are pointed in the right direction.

Looking Ahead to Q4

Seasonal slowing always shows up this time of year, but momentum is in place. Pending sales closed Q3 higher than last year. Prices remain stronger than 2024. Buyers have a real choice. Sellers who price to current comps, not summer peaks, continue to win. This is what a balanced market looks like. Both sides have opportunity, and the activity is real.