08/11/2026
It's "nerd alert" time! ๐ค Time for my market update! We are well into the second half of 2026, and if I had to describe our current real estate market, I would say it is very much a โ๐๐๐๐๐๐๐ ๐๐ ๐กโ๐ โ๐๐ข๐ ๐โ kind of market. Some homes are moving FAST, while others are taking a little more patience .. and price point, condition, location, and pricing strategy are making a big difference.
Looking at resale homes that have gone pending in the last 30 days:
โ๏ธ ๐ท๐๐ ๐๐๐๐๐๐ ๐๐๐ก๐๐: Homes averaged 42 days on market, with a median of just 23 days.
โ๏ธ ๐ผ๐๐๐๐๐๐๐๐: Homes averaged 38 days on market, with a median of 26 days.
I think the median numbers are especially telling. While some homes sitting longer pull those averages up, half of the homes going pending are doing so in less than a month. And certain segments are moving even faster. I am seeing a real need for homes under $225,000, and when a good, appropriately priced home hits the market in that range, there are buyers ready and waiting.
Another shift I think is really interesting is the ๐๐๐๐ก๐๐๐๐ ๐๐๐ก๐ ๐๐๐๐-๐๐ ๐๐๐๐๐๐ก. Mortgage rates are currently hovering somewhere in the 6% range, depending on the buyer and financing situation. For a long time, homeowners with really low mortgage rates felt a strong pull to stay put rather than trade their rate for a much higher one. But, I think we're slowly starting to see that grip loosen. Time keeps moving, and so does life. People get married, have babies, become empty nesters, change jobs, relocate, divorce, inherit homes, or simply outgrow the house they're in. Eventually, the need or desire to move starts to outweigh the desire to hang onto a low mortgage rate .. case in point, it just did for my family!! And yes, we are give up a rockstar mortgage rate, but our NEED for a bigger house was greater. Furthermore, each year more homeowners enter the market with mortgages at today's rates, slowly changing what โnormalโ looks like. That doesn't mean the lock-in effect has disappeared, but I do think it is gradually becoming less of a barrier to inventory and movement in the housing market. And, that could be an important piece of what our market looks like moving forward.
So, what does all of this mean? We have a more balanced market with more choices for buyers, but that certainly doesn't mean every buyer has the upper hand. A great house at the right price can still move quickly, especially in our more affordable price points, while homes that miss the mark on price or condition may sit and require adjustments.
๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐ฎ ๐ฏ๐๐๐ฒ๐ฟ, more inventory can mean more opportunity and negotiating power, but don't assume you can sleep on a great house. The good ones are still moving!
๐๐ณ ๐๐ผ๐'๐ฟ๐ฒ ๐ฎ ๐๐ฒ๐น๐น๐ฒ๐ฟ, buyers have choices, which makes pricing and presentation more important than ever. But, there are absolutely buyers in the market, and the right home prepped well and listed at the right price can still get fantastic results.
As always, real estate is incredibly specific to the ๐ต๐ผ๐๐๐ฒ, ๐ฐ๐ผ๐ป๐ฑ๐ถ๐๐ถ๐ผ๐ป, ๐ฝ๐ฟ๐ถ๐ฐ๐ฒ ๐ฝ๐ผ๐ถ๐ป๐, ๐น๐ผ๐ฐ๐ฎ๐๐ถ๐ผ๐ป ๐ฎ๐ป๐ฑ ๐๐ถ๐๐๐ฎ๐๐ถ๐ผ๐ป. If you're wondering what any of this means for your move, I'm always happy to dig into the numbers with you!