November 17, 2025 Housing Update

What’ Going On?

It’s a tale of two markets right now: fewer homes hitting the market, buyers still making moves, and properties sitting longer than they have in months. This week's numbers suggest buyers are being pickier, or pricing is making them pause, even as mortgage rates inch up.

Let's break it down.

Market Snapshot

• New Homes Listed in last 7 days: 48 (⬇️ down from last week 57)

• New Homes Under Contract in last 7 days: 27 (⬆️ up from 19)

• Median Days on Market: 65 (⬆️ up from 53)

• Median Price: $495,000 (⬆️ up from $489,900)

What the Numbers Mean

This is a thoughtful market. Buyers are being selective, likely due to pricing and affordability. If you’re a seller, it’s still a good time to list, but don’t expect bidding wars unless your home is priced right and shows well.

Mortgage Snapshot

Interest Rate: 6.38% (⬆️ up from 6.34%)

So What Does That Actually Look Like? 

Let’s do the math:

At the current median price of $495,000, with a 5% down payment ($24,750), your loan would be about $470.250

At a 6.38% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $2,932.

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

What It Means For You

For well qualified buyers, it still makes financial sense to own, especially if you plan to stay put for a few years. But for first time buyers, the upfront costs (down payment, closing) and monthly nut are high enough to create hesitation. This is a market for the financially prepared.

Rental Snapshot

• New Rentals Listed in last 7 days: 36 (⬇️ down from 44)

• New Rentals Under Contract in last 7 days: 20 (⬇️ down from 33)

• Median Days on Market: 51 (⬆️ up from 47)

• Median Rent Price 

  • Single Family Homes: $3,750 or $2.39/sqft (⬆️ up from $3,647 or $2.23/sqft)

  • Condos/Townhouses: $2,000 or $2.08/sqft (⬇️ down from $2,250 or $1.90/sqft)

What it Means

Renters have more leverage than they did even a month ago, especially in the condo/TH segment. Landlords need to price smart or risk sitting empty. For investors, the single-family rental market still looks solid but multifamily owners should watch closely for signs of a pricing ceiling.

💡 Not sure if buying or renting makes more sense right now?