7/14/25 Housing Update

What’s Happening in the Pines Market?

This week’s housing data shows a market in motion with more homes hitting the market, buyer activity picking up, and sellers feeling the pressure to price strategically.

Here’s what the latest numbers are telling us.

Market Snapshot

• New Homes Listed in last 7 days: 58 (⬆️ up from 53)

• New Homes Under Contract in last 7 days: 36 (⬆️ up from 23)

• Median Days on Market: 51 (⬆️ up from 33 days)

• Median Price: $429,950 (⬇️ down from $499,000)

What the Numbers Mean

More homes came online this week, and we saw a solid boost in pending contracts, always a sign of buyer engagement.

Homes are sitting on the market longer, but the dip in median price doesn’t necessarily mean home values are falling.

It could just mean that more lower-priced homes are selling, while higher-priced listings remain on the sidelines.

Something to watch in the weeks ahead.

Mortgage Snapshot

Interest Rate: 6.82% (⬆️ slightly up from 6.74% last week)

So What Does That Actually Look Like? 

Let’s do the math:

At the current median price of $429,950, with a 5% down payment ($21,497), your loan would be about $408,453.

At a 6.82% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $2,666.

That’s before taxes, insurance, and HOA fees, but it gives you a grounded sense of what monthly costs look like in today’s market.

What this Means

Even with a bump in rates, lower prices have brought monthly payments down from last week.

Buyers may find more negotiating power right now, especially with homes taking longer to sell.

If you're on the fence, this could be a good time to explore options before rates push higher again or prices stabilize.

💡 Affordability Tip:

Even with rates at 6.82%, 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.