Weekly Market Report
The early-season real estate market is heating up right on schedule, and there are a few key indicators we are keeping an eye on: 

• Fewer price reductions
• More properties selling over the asking price
• Shorter days on market (DOM)
• A steady, modest rise in inventory

However, there’s one metric bucking the trend: seller concessions. 

Seller Concessions Remain High

Last week’s average seller concession sat at $7,307 per closed transaction. This is the highest figure we’ve tracked for this time of year. Many buyers are still focused on their monthly payment, and even though mortgage interest rates have slipped slightly in recent weeks, buyers remain eager for rate buy-down assistance from sellers.

Looking ahead:

• If inventory grows as expected and interest rates stay elevated, buyers will keep asking for larger concessions.
• If rates drop and demand outpaces supply, sellers will likely have the upper hand, and concessions should shrink.

Price Reductions on the Decline

Back in late December 2024, 57% of all active listings had experienced a price reduction, the highest rate since 2010. But with buyers jumping back into the market after the holidays and new listings popping up, that number has already fallen to 44.6%. We anticipate it could hit around 25% by late April.

But, 25% of homes experiencing a price reduction is still quite substantial. For sellers, this highlights the importance of:

1. Thorough property preparation
2. Accurate pricing from the get-go

Seller Adaptability

A good real estate agent will help a seller define objectives, plan timelines, and nail the preparation, marketing, and pricing strategies needed for success. But a truly exceptional agent goes one step further: they watch the market each week and advise you on how to adapt using three main levers:

1. Price
2. Condition
3. Patience

In the 2025 market, some homes will go under contract in days—sometimes above asking price—while the majority will see longer listing times, fewer showings, and the potential need for a price drop. Some may even fail to sell altogether.

This doesn’t mean we’re in a “bad” market. It just emphasizes the need for a realistic mindset from day one. Sellers expecting an easy, top-dollar, lightning-quick sale without preparing the home thoroughly are likely to be disappointed.

Days on Market (DOM)

Although DOM is on a downward trajectory and will probably keep dropping through mid-spring, higher inventory and interest rates mean sellers should temper expectations about quick sales.

• Current average DOM: 52 days
• Projected by mid-spring: About 30 days

It’s still faster than some historical norms, but notably slower than what we saw in recent, more frenetic markets.

Sold Price Over/Under Asking

• At the peak in April 2024, 34.5% of homes sold over the asking price.
• By the end of 2024, 74.4% of properties sold below asking price—a percentage only topped in recent memory at the end of 2022 (75.1%).

Expect a similar trend in 2025: a strong spring surge giving way to a more balanced or even slow-moving market later in the year

Conclusion

Overall, the market is unfolding as predicted:

• Days on market are decreasing
• Inventory is inching up
• Offers at or above list price are on the rise

Buyers are starting to face more competition than they’ve seen in the past nine months, and this momentum is likely to build as we head deeper into the spring selling season.

At the same time, sellers must remember that diligence, strategy, and patience are pivotal. Even the best-prepared home can linger if the local sub-market moves slowly, while some properties will be scooped up in a matter of days. 

In short, both buyers and sellers should approach the process with a sense of seriousness and professionalism, all while making room for the hope that the journey can (and should) be a positive experience. After all, the level of effort you put in is directly tied to the results you’ll see.