Momentum builds as market seeks stability
Short-term momentum is positive: Both price and sales volume surged in May, and homes are selling faster—signals of a market that may be turning the corner after a slow start to the year.
Longer-term caution lingers: Despite recent gains, the LTM and YtD averages still show modest declines in both price and dollar volume, suggesting the market is finding a new equilibrium after post-pandemic highs.
Longer-term caution lingers: Despite recent gains, the LTM and YtD averages still show modest declines in both price and dollar volume, suggesting the market is finding a new equilibrium after post-pandemic highs.
More listings = more opportunity: Sellers are re-entering the market. For buyers, this means more selection and potentially less competition than in the ultra-tight markets of past years.
Strategic pricing matters: Properties priced with care can sell quickly. The data suggests today’s buyers are well-informed and value-driven.
MAY 2025 DETACHED HOMES
SALE PRICE vs LIST PRICE
Low $650,000 $750,000
High $2,800,000 $2,700,000
Average Sale in May $1,689,500
Median Sale in May $1,789,000
STATS ON BOWEN
is published monthly once all data for the previous month has been received.
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