05/04/2026
The market didn’t crash…
But it did correct.
And if you’re not paying attention…
You’re going to misprice your home.
March numbers are in and at first glance…
They look strong.
Closed sales were up 26.7%
Pending sales were up 15%
That tells us one thing…
Homes are still selling.
But the real story is in the pricing.
The median closed price dropped 11.5% year over year
That’s not minor…
That’s meaningful.
When you break it down further…
Single family homes actually held up well
Up 2.4% year over year
But condos pulled the overall numbers down
With prices declining 11.5%
Now let’s talk about what we are seeing right now moving through April…
Because this is where it becomes very real.
We are seeing more price reductions
We are seeing homes sit longer on the market
Days on market increased over 10%
And buyers are negotiating again.
Sellers are still testing pricing…
But buyers are no longer chasing.
Now let’s talk about the $2M+ market…
Because this is where a lot of people assume things are different.
They’re not immune.
What we are seeing in the luxury space is this…
Inventory is giving buyers more options
Homes that are priced right are still moving
But anything even slightly overpriced is sitting
The gap between “aspirational pricing” and “market reality” is very obvious in this price point.
Buyers at this level are extremely educated.
They are not emotional buyers right now.
They are patient…
And they are negotiating hard.
We are also seeing more price improvements on luxury listings than we were even 60–90 days ago.
The urgency that existed the last few years…
Is gone.
Here’s the bigger picture…
Prices have already come down about 8–10% from peak levels since last year
And what we are seeing now is that continue to play out in real time.
So what does this mean for you?
If you’re a seller…
The first 2–4 weeks still matter more than anything.
That’s when you have the most eyes
The most leverage
And the best chance at a strong offer
But only if you’re priced correctly from day one.
Miss that window…
And you end up chasing the market.
If you’re a buyer…
You have more control than you’ve had in years.
More options
More time to make decisions
And more room to negotiate
That’s a big change from where we were.
Bottom line…
Homes are selling.
But not at yesterday’s prices.
And the sellers who understand that…
Are the ones winning right now.
