Mid-Year Market Review
The Scouts’ motto, “Be Prepared,” may have been the best advice for those entering the 2026 real estate market. After years of intense competition and rapid home sales, the pace has visibly settled. Overall, inventory has modestly increased, though smaller markets remain highly competitive. This shift has created challenges on both sides, with some sellers learning the dangers of overpricing and some buyers still missing out.
For non-new construction homes in our area, properties that remained on the market beyond 14 days required a price reduction in more than half of all cases. Even then, when offers were received, the contract price came in below that reduced asking price more than three-quarters of the time. In nearly every case, this also meant additional time on market. Average and median days on market were more than six times longer for homes that required price reductions than for those priced correctly from the start.
That said, our market isn’t entirely tilted toward buyers. There are still pockets of strong competition, with nearly 25% of home sales closing above asking price. Among those homes, the median sale price was more than 2% over asking. Buyers need to begin their search prepared to act quickly when the right opportunity appears, while also staying patient when prices don’t reflect true market value. Understanding that balance is key to avoiding both missed opportunities and overpaying.
