May 2025 Market Overview

📊 May 2025 Market Overview

🏠 Sales Activity

• 3,649 homes sold in May 2025 — a 1.1% increase from May 2024.
  
  • 2,668 single-family homes
  • 981 condos/townhomes
• This marks a positive year-over-year trend, showing stable or slightly increased buyer demand.

⏳ Median Days on Market

• 31 days, down from 33 days last month.
  
  • Homes are selling faster, reflecting a competitive market environment.

💲 Pricing Trends

• Median price per sq. ft.: $239.19 (up slightly from April)
• Single-family home median price: $575,000
  • (no change from May 2024)
• Condo/townhome median price: $400,000
  • (down 4.76% from last year)
  • Indicates some softening in the condo/townhome segment.

📦 Residential Inventory

• 6,149 new listings in May 2025
• Up from 5,704 listings in May 2024
  
  • A 7.8% increase in inventory, offering more choices to buyers and contributing to a more balanced market.

🔍 What This Means

• For Buyers:
  • You have more listings to choose from and homes are moving quickly—be prepared to act fast, especially on well-priced properties.
• For Sellers:
  • Prices are stable for single-family homes, but competition is increasing. Strategic pricing and presentation are essential, particularly for condos.
• For Investors:
  • The dip in condo prices may create value opportunities, especially if rental demand remains strong.

📝 Bottom Line
The May 2025 housing market shows strong sales, stable pricing for single-family homes, and growing inventory. While condos are seeing a price dip, overall activity is healthy and continues to trend upward.