The March stats confirm what we’re seeing on the ground: we are deep in buyer’s market territory. Inventory is rising across all property types, while sales are slowing—creating one of the most favorable markets for buyers in the past five years.
Sellers: Strategic pricing is essential right now. Properties that are priced correctly are still moving, but overpricing is leading to extended days on market and steep reductions.
Buyers: With falling interest rates, growing inventory, and negotiable conditions, this is a rare window of opportunity to buy well.
🔹 Overall Market
- Benchmark price: $821,800 (↓ 0.3% YoY)
- Listings: 462 (↑ from 372 in Feb)
- Sales: 40 (↓ 7% YoY)
- Sales-to-active ratio: 0.088 → firmly in buyer’s market territory
🔹 Detached Homes
- Benchmark price: $873,600 (↓ 0.6% YoY)
- Listings: 358 (↑ from 304 in Feb)
- Sales: 31 → buyers negotiating hard, sellers must price sharply to see movement or risk lingering on the MLS
🔹 Condos
- Benchmark price: $493,800 (↓ 9.5% YoY)
- Sales-to-active ratio: 0.042 → high supply, low demand = buyer leverage
🔹 Townhomes
- Benchmark price: $766,700 (↑ 0.6% YoY)
- Sales-to-active ratio: 0.103 → softening, but some segments still competitive
✅ The Takeaway
The gap between listing price and buyer expectations is widening. Sellers need to lead with value to stand out. For buyers, the combination of selection, softer pricing, and favorable lending conditions makes now an excellent time to act.
Curious how this affects your plans? Let’s connect and build a strategy that works in this evolving market.