Summer Wake Up: Buyers are Back

A Brief Nap?

Last week felt like summer slowdown mode; fewer listings, fewer deals.

But this week? It’s a different story.

More homes hit the market, and contracts nearly doubled.

Yes, days on market crept up, but that’s likely old inventory finally finding buyers.

And with prices dipping, savvy shoppers are clearly on the move.

Market Snapshot

• New Homes Listed in last 7 days: 48 (⬆️ up from 41 last week)

• New Homes Under Contract in last 7 days: 43 (⬆️ big jump from 22 last week)

• Median Days on Market: 53 (⬆️ slower than 33 last week)

• Median Price: $395,000 (⬇️ down from $442,500)

What the Numbers Mean

We just got a jolt of activity after last week's slowdown.

Listings are up, contracts are way up, and it looks like buyers are back in the game.

But there's a twist: while more homes went under contract, the median days on market actually got longer.

That tells us the new contracts might be scooping up older listings that have been sitting for a while.

And with the median price dropping significantly, it could mean buyers are hunting for value.

Summer's not sleepy yet, it just hit the snooze button for a week.

Mortgage Snapshot

Interest Rate: 6.95%

So what does that actually look like in the real world?

Let’s do the math:

At the current median price of $395,000, with a 5% down payment ($19,750), your loan would be about $375,250.

At a 6.95% interest rate, your estimated monthly mortgage payment (principal & interest only) would be around $2,488.

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

Buyers are active again but they're being picky and price conscious.

Properties that were stale last month might be getting second looks now, especially if they've been reduced.

Sellers: Don’t assume summer equals slow. If your home is priced right, you could catch this wave of motivated buyers.

Buyers: There are more options and less competition than peak spring. If you see a deal, now might be the time to move.

💡 Affordability Tip:

Even with rates at 6.95%, a small rate drop can save you hundreds per month. Many lenders now offer rate buydowns 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.