Active Listings:
• May ’26: Down slightly at 951 active listings
• Year-over-year: Down 25%
• Year-to-date: Down 9%
Pended Listings:
• May ’26: Slight drop to 101 homes under contract
• Year-over-year: Up 20%
• Year-to-date: Up 40%
Sold Listings:
• May ’26: Up slightly with 125 homes sold
• Year-over-year: Up 81%
• Year-to-date: Up 44%
Absorption Rate:
• May ’26: Slight drop to 9.97 months of inventory
• Year-over-year: Down 37.8%
• Year-to-date: Down 25.8%
Average Days on Market:
• May ’26: Up to 165 days
• Year-over-year: Up 41%
• Year-to-date: Down 15.3%
Sold-to-List Ratio:
• Down slightly to 94.3%
Average Sale Price:
• May ’26: $2,660,785
• Year-over-year: Up 6.85%
• Year-to-date: Up 7%
Median Sale Price:
• May ’26: $1,599,000
• Year-over-year: Down 5.94%
• Year-to-date: Up 4.19%
My thoughts:
• This year has been a slow build back to “normal” and, if things continue at this rate, we can expect to see a balanced market by year’s end. Active inventory continues to trend downward. Negotiations are holding steady. Absorption rate is at its lowest point since January 2024 (and continues to trend downward), which indicates a progressive track away from a buyer’s market towards a more balanced market. Also worth noting is the overall sold volume, which reached its highest point since May 2024 at $332,598,066, with the majority of transactions happening between $1.5M - $2.5M.
• Buyers continue to lose favorable ground, but the window is still open. For investors, purchasing sooner will ensure that existing & new bookings for 2026 flow to you. It will also give you time to assess the existing management company and make any changes once the shoulder season hits. With every metric pointing towards an increasingly active market, buyers need to be prepared to pay for the cost of waiting.
• Sellers still need to be realistically priced, but opportunities are increasing. With declining inventory, sold prices up across the board, and an absorption rate edging closer to a balanced market, sellers will have much more leverage listing their homes as the year continues. If you plan on listing soon, make sure your home is show-ready and priced correctly - greed is still being punished and you WILL pay for it in price reductions and days on market.
