Market Recap

  •         Active Inventory up 39.4%
  •         Pending Sales Dropped -1.4%
  •         Sold Homes only increased 1.9% despite the increase in available inventory
  •         Median Sales price increased a modest 3.6%

Traditionally a quiet month, February’s market activity reflected consumer sentiment in two important areas: affordability and available inventory.

30-year mortgage rates dropped slightly from 6.95% to 6.76%, but that may not be enough to encourage buyers when faced with continuing rising prices. The median price for residential homes and condominiums rose 2.4% from $615,000 in January 2025 to $630,000 in February 2025.

Although the number of active listings is significantly higher than a year ago (39.4%…

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