Let’s start with the numbers:
The average selling price dipped slightly to $349,000, down 4% year-over-year.
The real shocker? Only 12 homes sold in March—a 45% drop from the 22 homes that sold in March 2024.
Despite that big decline in sales, inventory levels remained steady with 45 active listings, just one less than the same time last year. But with fewer homes selling, we saw the months of inventory (the time it would take to sell all active listings at the current sales pace) jump to almost 4 months, marking an 80% increase. This is a strong signal that the market is cooling off and shifting toward a more balanced environment—something we haven’t seen in quite some time.
So, what does this mean for you?
Sellers:
This isn’t the red-hot seller’s market we’ve seen over the past few years. Homes are taking longer to sell, and strategic pricing matters more than ever. Buyers have more options, and that means your home needs to stand out. Presentation, condition, and competitive pricing are key to attracting serious offers.
Buyers:
With more inventory and fewer competing buyers, the pressure is easing up. That breathing room gives you time to make thoughtful decisions and potentially negotiate more favourable terms. If you've been waiting for a less intense market, this might be your moment.
Looking ahead
While economic uncertainty continues to linger in the background, one thing remains true—people still need places to live. Whether you’re upsizing, downsizing, or buying your first home, real estate will keep moving. And with that comes opportunity—for savvy buyers and realistic sellers alike.
If you’re unsure how this shift affects your goals, I’m always happy to talk it through. Whether it’s timing, strategy, or simply answering your questions, I’m here to help you move forward with confidence.
📞 Let’s connect when you're ready.
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Roxann Klepper
403-872-4546