Spring is usually when the real estate market kicks into high gear — open house signs pop up, buyers come out in full force, and sellers try to time the top of the market. But this year? The story is unfolding a little differently.
Here’s what the latest data is telling us — and what it could mean for your next move.
Chapter One: The Crowd Is Thinning
📉 Showings are down 18.4% from last year, and 19% from just last week.
That’s a dramatic drop in buyer activity — and it’s not just a fluke. Higher interest rates, economic uncertainty, and “wait-and-see” attitudes are keeping many potential buyers on the sidelines. This doesn’t mean no one’s buying. It means the buyers still shopping are more serious, and less likely to get into bidding wars.
If you’re a buyer: You may find fewer crowds at open houses and more negotiating room.
If you’re a seller: You need more than just a “For Sale” sign. Staging, pricing strategy, and marketing are critical.
Chapter Two: Contracts Are Slowing — But the Clock Is Still Ticking
📝 New contracts are down 9.1% year-over-year, and 4.5% week-over-week.
⏱️ Yet the median time to contract is still just 13 days — two days faster than last year.
At first glance, this seems contradictory — fewer homes are going under contract, but the ones that do are selling quickly. What’s really happening? We’re seeing a split market. Well-prepared, well-priced homes are flying off the shelf. Others are sitting — or being pulled altogether.
Chapter Three: Prices Keep Climbing — Despite the Slowdown
💰 The median list price has climbed to $325,000 — up 6.1% from last year and 3.2% from last week.
This isn’t what most people expect in a cooling market. But inventory still isn’t high enough to force price cuts across the board. Instead, we’re seeing sellers hold firm — especially those who aren’t in a rush. In short: fewer homes, fewer buyers, but prices are still trending up.
Chapter Four: Inventory Is Up, But It’s a Quiet Climb
🏡 Active listings are up 14.9% year-over-year, but down slightly (-0.9%) from last week.
This rise in available homes is giving buyers more breathing room — but it’s not flooding the market. It’s a cautious climb, not a rush to sell.
And interestingly…
🔻 Only 6.4% of listings have had a price reduction, down from last year and last week.
Most sellers are still holding their ground. That’s a sign of confidence — or perhaps, hesitation to chase the market down.
Chapter Five: Canceled Listings Are Spiking
❌ Canceled listings are up 70.4% from this time last year.
This is one of the most telling stats of all. Sellers who came to market unprepared — or with unrealistic expectations — are stepping back. In many cases, the home didn’t sell because it wasn’t positioned correctly for today’s buyer.
The Plot Twist: Uncertainty Creates Opportunity
This market isn’t hot… or cold. It’s uneven. And that’s where opportunity lies.
- For sellers, this is your reminder: it’s not 2021 anymore. But with the right strategy, your home can still stand out and sell quickly — and for top dollar.
- For buyers, less competition and more choices could finally tilt the odds in your favor.
Let’s Write the Next Chapter — Together
Whether you’re thinking of buying, selling, or just keeping an eye on the market, you don’t have to navigate it alone. I’m here to help you understand what’s happening and make smart, confident moves.
📲 Text or Call: 717-836-4447
📩 Email: mpasciuta@inchandco.com
🌐 Learn More: livinginyork.com
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