MARCH 2026 – MORE OPTIONS FOR BUYERS AS SPRING APPROACHES
During the second month of 2026 we saw residential property sales come in 1% higher than February of last year, while total listing inventory decreased by 5%, reaching 2,498 active listings. The overall average price across all residential categories combined is currently sitting at $780,496, with a price dip nearly 11% lower than last February’s average price.
The table below highlights where the 274 total monthly sales came from and where inventory levels are sitting for each property type. On average, it is taking about 77 days to sell a home, depending on the category.
SINGLE FAMILY HOME MARKET UPDATE
Sales in the single-family sector decreased by 5%, coupled with a 9% decrease in inventory compared to last year. Even with a 10% dip in average price, the typical single-family home still remains above the 1 million dollar price point.
TOWNHOUSE MARKET UPDATE
The townhouse market remained active with sales sitting just 4% below last years numbers, while inventory decreased by 9%. Townhomes currently make up only 14% of all active listings and the average sale price is sitting at $759,138, nearly 1% higher than last February.
CONDO MARKET UPDATE
Last month condo sales decreased by 5%, while available listings grew by nearly 1%. With more available inventory, the condo market still shows seasonally healthy engagement.
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 second month of 2026 went compared to the same time periods in the previous 3 years. In February 2026, we were sitting at 9.1 months of inventory, down from 9.7 months in February 2025. This keeps us in a buyer’s market for now, offering more options for buyers as we continue towards spring!
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!
