OCTOBER 2025 – STEADY SALES MARK A SMOOTH TRANSITION INTO FALL
As summer came to an end, our local real estate market kept up its steady pace through September! Below we take a look at how prices, sales, and inventory moved across different sectors compared to this time last year.
Last month residential property sales numbers came in 39% higher than September of last year, while our total listing inventory dropped by 1% to 3,240 listings in total.
The table below shows the breakdown on where the 367 total monthly sales came from and highlights inventory levels for each property category. On average, it is taking around 69 days to sell a home, depending on the property type.
SINGLE FAMILY HOME MARKET UPDATE
In the Single Family Home bracket, sales increased by 34%, paired with an 11% decrease in inventory compared with September of last year. The average price for the month remained above the 1 million dollar mark, and is currently sitting nearly 1% above last September’s average price.
TOWNHOUSE MARKET UPDATE
The townhouse market also showed strong activity, with sales up by 38% compared to last year. With a 4% decrease in inventory, townhomes still represent only 13% of all active listings. The average sale price rose to $845,372, marking a 25% increase year over year.
CONDO MARKET UPDATE
Condo sales also climbed up 24% over September of last year, while inventory in this sector saw a notable 19% increase. The condo market continues to experience healthy activity as more listings come online and demand remains steady.
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 ninth month of 2025 went compared to the same time periods in the previous 3 years. In September of 2024, we had 12.5 months of inventory, whereas this September we were sitting at 8.8 – despite the dip compared with last years numbers, the market remains in buyer’s territory for now.
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!
