Months of Inventory ticked down slightly from September to October, but it’s still higher than last year and above the long‑term norm for this time of year. That signals a market that’s loosening, not collapsing.

Compared with 2024, 2025 has consistently run at or above historic levels since midsummer, giving buyers more choice and slightly more negotiation power.

For sellers, this means pricing cleanly to the market and being ready to negotiate on terms. For buyers, especially move‑up buyers, this fall window offers more options without yet facing a true buyer’s market.

Supply eased slightly from September to October (333 to 324 listings) but remains above 2024 and still a bit below the long‑term average. Buyers now see more choice than last year without a true “glut” of homes.

Demand slipped month over month (183 to 178 pendings) and is right in line with the historic October average. This points to a normalizing, not surging, market.

Net effect: leverage is tilting slowly toward buyers compared with 2024, but well-priced homes can still command strong interest, especially in less crowded segments.

Appreciation cooled again this month, but not as dramatically as over the summer. Year-over-year price growth ticked up from 3.26% in September to 4.26% in October, while the median price jumped from about $275,600 to $279,600. Month to month, that’s a solid gain.

Big picture, 2025 is a comedown from the 9–20% surges of 2021–2023 and even the 7–9% pace of late 2024. We’re firmly in a slower, more sustainable phase. Sellers can still expect rising prices, but buyers now have a bit more leverage and less urgency.

Buyers, this market is hotter than last year: prices are up 17% and homes are selling faster, with average days on market down to about 26. But you have a bit more choice, with inventory and new listings slightly higher, and sellers accepting about 0.7% below asking on average. Use that tiny shift in leverage to negotiate repairs or closing costs rather than big price cuts.

Sellers, this is still your market. Sales volume and total sales jumped sharply, prices are up double digits, and months of inventory remains very low. Well‑priced homes are moving, so lean into realistic pricing to avoid joining the withdrawn or expired crowd.