7/08/25 Housing Update

Holiday Hangover?

The fireworks weren’t just in the sky last week.

While the 4th of July holiday slowed down new listings and contracts, the homes that did hit the market moved fast and at more accessible price points.

Add in a small dip in mortgage rates, and we’re seeing a classic holiday week reset with potential upside for active buyers.

Here's what the numbers reveal.

Market Snapshot

• New Homes Listed in last 7 days: 53 (⬇️ down from 62)

• New Homes Under Contract in last 7 days: 23 (⬇️ down from 37)

• Median Days on Market: 33 days (⬇️ down from 56 days)

• Median Price: $499,000 (⬇️ down from $549,000)

What the Numbers Mean

• Holiday pause: Fewer homes listed (53) and fewer contracts (23) reflect a typical July 4th slowdown.

• But buyers were still serious: Median days on market dropped from 56 to 33 showing homes moved faster despite fewer listings.

• Pricing shift: Median price fell from $549,900 to $499,000, that’s a $50K+ drop likely driven by more lower priced homes selling last week

Last week was slower on paper, but the homes in the lower price ranges got attention and moved.

Expect more activity as post-holiday momentum picks up.

Mortgage Snapshot

Interest Rate: 6.74% (⬇️ slightly down from 6.83% last week)

So What Does That Actually Look Like? 

Let’s do the math:

At the current median price of $499,000, with a 5% down payment ($24,950), your loan would be about $474,050.

At a 6.74% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $3,072.

That’s before taxes, insurance, and HOA fees, but it gives you a realistic sense of the monthly commitment in today's market.

What this Means

Mortgage rates dipped again, from 6.83% to 6.74%.

It’s not a game changing drop, but paired with the lower median price, it translates into meaningful savings, around $335 less per month compared to last week.

The market remains stable, but with signs of cooling.

• Buyers: This could be your opening. Less competition, faster moving deals, and slightly better numbers on paper.

• Sellers: Price with intention. Motivated buyers are out there, especially when the math starts to work in their favor.

💡 Affordability Tip:

Even with rates at 6.74%, a small rate drop can save you hundreds per month.

Many lenders now offer rate buy downs or credits. Don’t skip the conversation.

👉 Buyer Tip: Get pre-approved before you shop. Knowing your monthly budget makes it easier to jump when the right home hits the market.

Ready to run the numbers on you ideal home?

Schedule a quick call with me here and I’ll connect you with a local lender who can show you exactly what’s possible in today’s market.