This past Late-Q3, we saw a notable shift in the market: about one in five listings experienced a price cut, while less than 6% were taken off the market entirely. Sellers across the country are clearly staying in the game, adjusting expectations rather than stepping aside. Mortgage rates made a noticeable jump as well—conforming 30-year fixed rates started in the high-6% range and crossed over 7% by mid-month, then continued to climb. Active inventory reached over 1.16 million homes, and the median listing price dipped by around 1% month-over-month to $419,300, opening up a bit more negotiation space for buyers. Meanwhile, the pace of new listings slowed slightly—down about 2% month-over-month to roughly 395,000. Higher borrowing costs are keeping some buyers from fully taking advantage of these shifts, and economists are watching closely to see if this environment will lead to even deeper discounts or longer selling times as we move into Early-Q4.
Having started my real estate career on the lending side and later navigating both commercial and residential real estate, I’ve seen how quickly market dynamics can change—and how important it is for sellers and buyers alike to adapt their strategies. My passion is helping Valley families and couples find homes they genuinely love, and that means keeping a close eye on these trends to guide clients through every twist and turn the market brings.
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