Single Family Residential

Active inventory decreased from last month but remains higher than one year ago. Sellers are becoming increasingly aware that the most favorable listing window tends to fall between late February and mid April, with overall inventory peaking in early fall. New listings slowed from September and remained mostly unchanged compared to last year.

Pending transactions were relatively steady, with only a slight increase from the previous month. Closed sales, however, edged down slightly, staying near last year’s levels. Inventory months of supply also declined, signaling the continued seasonal slowdown as buyers and sellers begin to downshift into the holiday months. Buyers who remain active are selective and waiting for homes that fully meet their criteria while also expecting sellers to negotiate.

Prices showed moderate strength, moving higher compared to last month and still above levels from one year ago. Most homes continued to sell below asking, though the share eased slightly from September, reflecting stable negotiations. Concessions remained common in well over half of all closed sales, often tied to rate buy downs or closing cost assistance as buyers aim to offset financing challenges.

Days on market shortened again, with homes going under contract more quickly than earlier this year but still taking longer than historic norms. A meaningful portion of listings continued to move very quickly when priced and presented well. Showing activity eased from September but stayed ahead of last year, suggesting continued interest even as the market cools seasonally.

Condo and Townhome October 2025

Active inventory declined slightly from September but remained higher than one year ago, though that gap continues to narrow. New listings fell notably, signaling a softening of the steady growth in supply we had seen since mid 2024. Sellers are showing restraint heading into the holidays as listings start to clear out.

Pending transactions moved down from September and stayed below last year’s levels, while closed sales followed seasonal patterns with a modest decline. Months of inventory increased slightly, showing that attached homes are balancing toward a slower market as the year wraps up.

Average prices rose, but median prices slipped, reflecting a mix of higher end activity offset by broader affordability pressure. Most attached homes continued to close below asking price, and concessions were common as buyers and sellers worked to structure deals that bridged rate and affordability gaps.

Days on market shortened somewhat, allowing more time for buyers to make thoughtful decisions, but a noteworthy share of attached homes in desirable areas still went under contract within a week. Showing activity declined both month over month and year over year, consistent with seasonal trends.