| Single-family homes have generally maintained their value, with median sale prices remaining in the mid-$600,000 range.
Attached homes, including condominiums and townhomes, are experiencing increased pricing pressure, with median prices nearing $390,000 and some declines compared to the previous year. They continue to represent the most affordable segment of the market.
Pace of sales has moderated, as properties are taking longer to sell; median days on the market currently range from 36 to 46, an increase over the prior year.
The market is trending toward greater balance, moving away from a previously strong seller’s market. Buyers now possess more negotiating leverage, which has led to more frequent seller concessions, such as assistance with closing costs or interest rate buydowns.
On average, homes are selling for approximately 2–3% below their original list price, with the sale-to-list price ratio around 97.9%.
In the rental sector, growth in rents has decelerated due to an influx of new apartment units entering the market. This has resulted in a modest decrease in average rent levels and elevated vacancy rates within certain multi-family housing sectors. |
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