This summer has brought a noticeable uptick in active inventory compared to last month and a big jump from where we were a year ago. More sellers are tuning into the fact that late February to mid-April is really the golden window for listing, but we’re now approaching the usual early fall peak for available homes. Although new listings have slowed a bit since June, they’re still coming in at a much higher rate than last summer.

Looking at pending sales, the number dipped slightly versus May, but matched last year's figures—a reassuring sign that local demand hasn’t wavered. Closed transactions followed suit, staying steady month-to-month, but up year over year, which is a healthy signal for our market.

Inventory levels also inched up, reflecting the natural cooling-off period that often hits after July 4th. All signs point to a milder pace, with buyers becoming pickier and patient, holding out for homes that meet all the right criteria (and working with sellers who are ready to negotiate!).

Despite these shifts, prices have actually held strong. Both average and median closed prices crept up, both over the previous month and compared to last year. This stability is a positive for both buyers and sellers, proving that even as the market shifts, there’s plenty of activity and value.

It’s worth noting that more homes are now selling below their asking price—evidence that sellers are increasingly flexible on negotiations. Concessions are part of the deal for many, although changes in MLS reporting make it tough to see exactly how they’re used. From conversations with lenders, most are being put toward things like rate buy-downs and closing costs, with many opting for permanent, long-term perks.

Days on market are trending a little longer, but the median time for a contract has actually gotten shorter. That tells us buyers are thoughtful, but well-prepared homes are still moving fast—sometimes going under contract in just a week.

Want to know what these trends mean for your own real estate goals, or just want to talk through your summer options? I’m always here to help you strategize!