The fall selling season is in full swing and showing renewed momentum. Overall inventory remains tight, and demand has stayed strong thanks to easing mortgage rates and increased buyer confidence. Both the single-family and condominium markets are performing at a healthy clip, pointing to a confident close to the year.
In the single-family segment, conditions remain highly competitive. The median sales price climbed 3.2 percent year over year to $1,625,000, while the median days on market held steady at just 13 — still remarkably fast by historical standards. The median price per square foot dipped only 0.6 percent to $988, a negligible change considering the surge in demand and limited supply. Contract activity increased 4.1 percent, and closed sales rose 1.5 percent, even as active listings at the end of September dropped 28.1 percent to just 243 homes. Nearly 72 percent of sales closed above the list price, and sellers received an average of 113.2 percent of asking, up 1.3 percent from last year. With just 1.3 months of inventory available, the single-family market remains squarely in sellers' territory, underscoring how competitive conditions have stayed.
The condominium market is showing clear signs of renewed buyer engagement. The median sales price declined 2.7 percent year over year to $1,089,800, while the median days on market improved by one day to 37. The median price per square foot eased 2.1 percent to $975, but activity picked up sharply: the number of condominiums that went into contract surged 26.3 percent, and closed sales increased 16.5 percent from last year. Inventory also tightened, ending September 20.7 percent lower than a year ago. About one in three condos sold above asking, with sellers averaging 100.9 percent of list price — holding steady from 2024. With months' supply down to 2.8, the condo sector is trending toward balance while building real momentum heading into Q4.
