Last month, I wrote, “At this rate, we will surge above our high of last year, which was 510 before declining.” Inventory rose from 506 homes on the market on May 4, 2025, to a high of 532 homes on June 5. This is the largest number of homes buyers have had to choose from since October of 2018. Supply continues to increase.

During this buying season, prices continued to rise in May from their March low of $400,000, with the 3-month Median price increasing to $427,500 and the 12-month Median rising to $438,750, surpassing its April level of $435,000. The up-and-down price action of the past three years continues as we remain range-bound.

Median DOM (days on market - the time it takes for 50% of homes to leave the market for homes that sold over the past 30 days). We are currently in the midst of our buying season, and the number of days it takes to sell a home is decreasing. It has dropped from a low of 41 days last month to 22 days this month, with a range of 22 to 29 days over the past 30 days. Although it has decreased over the past few months, it is taking longer to sell a home at this time of year than in the previous eight years. This is evidence of a change in the market.

Number of pendings over the last 30 days, close-up. After a brief decline in the number of homes pending from 95 in late April and early May, we have rapidly climbed to a high of 148 in early June. Homes are selling at a faster pace than at any time in the past three years. Hopefully, this will continue into the late summer and early fall.

The number of sales for the previous 12 months, ending in May 2025, was nearly unchanged from the previous month. April ended with 1074 homes sold, and May was at 1075. With the number of pending sales increasing over the past month, there is hope that this trend will continue to climb.

3-month median list price compared to 3-month median sold price. The reversal in the price trend that occurred last month continued as we progressed further into the buying season. The median list price rose from $425,000 to $435,000, and the median sales price rose from $416,000 to $427,500. As you can see from the chart, this is typical behavior during this time of being range-bound.