May 2025 Housing Market Indicators

The May 2025 market stats are in, and whether you’re considering buyer, selling, or are just curious, here’s what you need to know. (See the chart at the bottom for additional detail)

Inventory:

Inventory jumped 29.1% Year Over Year (2,066 active listings), and months supply rose 32.4% to 4.9 months. Translation: Buyers have some breathing room. Sellers need carefully considered pricing and a standout presentation — no more “list it and forget it.”

Buyer Activity:

Pending sales are up 13.7%, showing buyers are back in the game. There's no time left for sitting on the fence to "wait and see". The only thing reluctant buyers will see is their desired property sell out from under them. Properly priced properties are selling quickly.

Prices Are Adjusting, Not Crashing

Median sales price dipped 1.7% to $562,500, while the average sales price dropped 3.2%. This is a healthy correction, not a slide — and YTD values are still up over 3%+. This gentle correction has helped stimulate the market without much affect on sellers. Basically, the already over-priced properties have made the necessary adjustment to attract buyers.

Days on Market

Homes are now averaging 58 DOM (+11.5%). This is a wake up call to all perspective sellers. It's more important than it has been in years past to carefully price your property and make a great first impression, through professional marketing and a smart selling strategy.

It’s Not 2021 Anymore

Percent of list price received dropped slightly to 97.3%. The days of multiple offers may be behind us, but 97.3% of asking price is still several points higher than pre-pandemic numbers. A properly priced home should be expected to sell close to list price.

If you would like to discuss the market in more detail, please don't hesitate to give me a call.

Now, here are some additional stats for all you data driven people... like me.