08/28/2026
āļøš” Wrapping Up August: What Did the Summer Real Estate Market Actually Look Like?
Iām wrapping up August with 3 closings Monday, which feels like the perfect way to close out a busy summer, but this summerās real estate market definitely looked different than what weāve seen over the past few years.
The homes are still selling. Buyers are still buying. But the numbers show us that the pace has changed.
š According to the latest Bright MLS Weekly Market Report:
⢠61,218 showings ā down 6.7% from last year
⢠4,802 new contracts ā down 5.3% from last year
⢠525 canceled listings ā UP 23.8% from last year
This marks the 7th straight week that showings have trailed 2025 and the 3rd straight week that new contracts have been down year-over-year.
And maybe one of the most telling numbers: canceled listings have now been at their highest level in four years for 11 straight weeks.
What does all of that mean?
š” FOR SELLERS: Homes are absolutely still selling, I have 3 listings closing just this week to prove it! But buyers have more choices and are taking more time to make decisions. Pricing correctly from the beginning, preparing the home well and having a strong marketing strategy matter even more in this market.
š FOR BUYERS: More inventory and less competition can create opportunities we simply didnāt have during the frenzy years. There may be more room to negotiate price, seller concessions, closing costs or even a rate buydown.
š° And speaking of ratesā¦
The average 30-year fixed mortgage rate is currently 6.66%, compared with 6.65% last week and 6.56% one year ago.
Rates really havenāt changed much. What HAS changed is the market around them.
More homes to choose from + slower price growth + sellers who may be more willing to negotiate can change the overall affordability equation.
As we head into the fall market, I think thatās the biggest takeaway from this summer: weāre moving toward a more balanced market.
It doesnāt necessarily favor every buyer or every seller. It means strategy matters.
And after a busy summer and the first week of school officially DONE š, Iām ready to see what the fall market brings! šš”
Feel free to reach out with any real estate-related questions. Iām always happy to be a resource, whether youāre thinking about buying, selling or simply want to better understand whatās happening in the market.
Chelsea Murphy, REALTORĀ®
Douglas Realty
443.813.0243
[email protected]
Sources: Freddie Mac Primary Mortgage Market Survey, August 27, 2026 & Bright MLS Weekly Market Report, week ending August 23, 2026.