MAY 2026 – SALES SLOW AS PRICES INCH HIGHER
During the fourth month of 2026 we saw residential property sales come in 3% lower than April of last year, while total listing inventory decreased by over 8%, landing at 2,985 active listings. The overall average price across all residential categories combined is currently sitting at $880,955, with a price increase nearly 6% above last April’s average price.
The table below highlights where the 399 total monthly sales came from and where inventory levels are sitting for each property type. On average, it is taking about 62 days to sell a home, depending on the category.
SINGLE FAMILY HOME MARKET UPDATE
Sales in the single-family sector decreased by nearly 7%, coupled with a 11% decrease in inventory compared to last April. In contrast, last month we saw a 12% increase in average price compared to the same time frame last year.
TOWNHOUSE MARKET UPDATE
The townhouse market still showed healthy engagement despite sales sitting 10% below last years numbers. Inventory decreased by 5%, bringing the total percentage of Townhomes in our active listing inventory to just below 14%!
CONDO MARKET UPDATE
Last month condo sales decreased by 4%, while available listings levels dropped by nearly 11%. Average prices stayed consistent with a less than 1% difference in trends from last April.
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 fourth month of 2026 went compared to the same time periods in the previous 3 years. In April 2026, we were sitting at 7.5 months of inventory, down from 7.9 months in April of 2025. This keeps us in a buyer’s market for now, offering more options for buyers as the spring market continues!
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!
