Haymarket is currently tilted toward sellers, with the market gauge at 18 indicating a seller’s market. Months of supply has climbed to 3.2 in the latest rolling three-month period, up sharply from about 1.0 a year ago. Even with that increase, supply is still limited enough to give sellers an edge.
Home values show a mixed picture in this rolling three-month view. The typical home value is about $635,000, down roughly 12% from a year earlier, while the median list price is slightly higher year over year, up around 2%. Fewer deals are closing, with homes sold down nearly 30% compared with last year and pending sales down a similar amount, pointing to softer demand. At the same time, new listings are up a bit year over year, so buyers have a bit more to choose from than they did previously.
Conditions on the ground reflect this shift toward a slower but still seller-favored market. Homes now spend a median of 25 days on the market, dramatically higher than a year ago, and supply has more than doubled over that period, easing some of the urgency for buyers. Even so, about 58% of homes go off the market within two weeks, and roughly 36% sell above list price, showing that well-priced properties still attract strong interest. In this kind of nuanced market, both buyers and sellers can benefit from Agent Pronto’s help finding an agent who understands current trends in Haymarket.
