SEPTEMBER 2025 – BUYER MOMENTUM CONTINUES TO BUILD
Last month, our local housing market continued to create favorable conditions for buyers! Compared to August 2024, sales grew across all major property types, with particularly strong momentum in the condo market, while single-family homes and townhouses also experienced steady increases. Below, we break down how pricing, sales, and inventory shifted in each sector throughout August.
Last month residential property sales numbers came in nearly 14% higher than August of last year, while our total listing inventory increased by 1% to 3,342 listings in total. Currently, the overall average price (all residential property categories combined) is sitting less than 1% above the average during the same time last year, landing at $816,402.
The table below shows the breakdown on where the 361 total monthly sales came from, and shows the total inventory levels for each property category. On average, it is taking around 62 days to sell a home, depending on the property type.
SINGLE FAMILY HOME MARKET UPDATE
In the Single Family Home bracket we saw a sales increase of more than 6% coupled with a decrease of 7% in inventory over August of last year. The average price for the month again came in above the Million Dollar mark, and is currently sitting 9% above last August’s average price.
TOWNHOUSE MARKET UPDATE
The townhouse market has seen an 4% increase in sales compared to August of last year. With a 4% decrease in inventory to match, townhomes still are only making up just under 13% of all available listings. The average sale price finished at $699,379 – a decrease of 2% below the average during the same month last year.
CONDO MARKET UPDATE
The condo market has seen an increase in sales compared to this time last year. We also have continued to see significant increases in inventory in the condo sector this year over last. Sales increased by 31% while the inventory increased by 18%!
SUPPLY & DEMAND
The months of inventory levels are our best way to determine the strength or weakness of the market…and to recap our benchmarks:
Less than 4 Months of Inventory is a Seller’s Market
4 to 6 Months of Inventory is a Balanced Market
More than 6 Months of Inventory is a Buyer’s Market
We’ve been tracking the Months of Inventory – the graph below outlines how the eighth month of 2025 went compared to the same time periods in the previous 3 years. In August of 2024 there were 10.4 months of inventory, this August we were sitting at 9.3 months of inventory. This means we are continuing to work in a buyers market at this time.
What does all this mean? Is now the time to make a move? I would love to discuss what may be right for you – Please feel free to reach out any time!
