Weekly Market Update | Feb 2 through Feb 8

This Week’s Stats
New Listings: 135 ↑ from 128
Pending Sales: 178 ↓ from 190
Sold Homes: 87 ↑ from 69
Price Reductions: 61 ↑ from 60

Weekly Trend Overview
New listings ticked up again, adding more inventory to the market as we move deeper into the early spring ramp up. Pending sales pulled back slightly from last week, which is normal after a strong surge, while closed sales jumped meaningfully, showing that buyers who went under contract earlier are now reaching the finish line. Price reductions also edged higher, signaling that some sellers are adjusting expectations as competition increases.

What This Means for You

For Buyers
More new listings mean more choices, especially compared to a few weeks ago. While competition is still present, the slight dip in pending sales suggests some breathing room in certain price points. This is a good window to watch for opportunities where sellers may be more open to negotiation, particularly on homes that have been sitting.

For Sellers
Buyer activity remains solid, as shown by the jump in closed sales, but pricing strategy matters more than ever. With reductions creeping up, homes that are priced well and presented properly are still moving, while others may need adjustments. The market is rewarding sellers who launch strong from day one.

If you want to dig into how this is playing out in your specific neighborhood, I’m happy to break it down.