New listings reached 1,752, representing a 9.8% increase compared to last year and a modest 0.8% rise from the previous week, indicating continued seller confidence and growing inventory. Despite a healthy median list price of $675,000, prices saw a 1.8% dip week-over-week, although still 8.0% higher than a year ago, reflecting both long-term price growth and short-term adjustments.
Active listings climbed to 9,693, a significant 45.3% increase from a year ago and up 3.8% from last week, offering buyers more choices and creating a more competitive environment for sellers. In response, 9.9% of active listings experienced price reductions, up 1.3 percentage points year-over-year and 0.7 percentage points from last week, suggesting increased price sensitivity in the market.
Canceled listings also rose sharply, with 172 properties pulled from the market, a 112.3% increase year-over-year and 4.9% increase week-over-week, possibly due to sellers adjusting to shifting market conditions or unmet pricing expectations.
Overall, the market remains active and stronger than this time last year, but growing inventory and longer time to contract hint at a more balanced and price-conscious environment as we move into late spring.
