Weekly Market Update: September 14th through September 20th

Fall is officially knocking on the door, and this week’s numbers show a market that continues to shift as we move deeper into September.

New listings slowed noticeably this week, while pending sales picked back up. At the same time, price reductions climbed to their highest level we’ve seen in several weeks.

This Week’s Stats

New Listings: 212 ↓ from 261 last week
Pending Sales: 160 ↑ from 148 last week
Sold Homes: 102 ↑ from 101 last week
Price Reductions: 255 ↑ from 230 last week

What Stands Out This Week?

The biggest change was the drop in new inventory. We saw 212 new listings hit the market, down nearly 19% from last week’s 261.

That slowdown isn’t particularly surprising as we get farther into September. The summer listing season is behind us, kids are back in school, and homeowners who haven’t already listed often start thinking about whether they want to make a move now or wait until spring.

But while fewer homes came on the market, buyer activity actually improved.

Pending sales increased from 148 to 160, a little over an 8% increase. That’s an encouraging sign that buyers are still out there and making offers when they find the right home at the right price.

Closed sales were essentially unchanged at 102 compared with 101 last week.

Then there’s the number that really jumps off the page: 255 price reductions.

That’s up from 230 last week and means we had more price reductions this week than new listings.

What Does This Mean for Buyers?

For buyers, this continues to be a market where patience can pay off.

Not every seller is getting their original asking price, and the growing number of price reductions creates opportunities that may not have existed when a home first came on the market.

That doesn’t mean every home is negotiable. Well priced homes in desirable locations can still attract strong interest. But buyers have more room to evaluate the home, its condition, its pricing and the overall terms of an offer than they did in the frenzy of previous markets.

And sometimes the best opportunity isn’t the brand new listing. It’s the home that has been sitting for a few weeks and now has a seller who is ready to have a conversation.

What Does This Mean for Sellers?

The 255 price reductions are another reminder that pricing correctly from the beginning matters.

Buyers have access to more information than ever, and they’re paying attention. If a home feels overpriced compared with competing properties, many buyers simply wait.

A price reduction can absolutely generate renewed interest, but the goal should be to avoid chasing the market whenever possible.

That makes preparation, presentation and pricing especially important right now. A home that enters the market positioned correctly has a much better chance of getting buyer attention while it’s still fresh.

The Bottom Line

This week gave us an interesting combination: fewer new listings, more pending sales and significantly more price reductions.

That tells me buyers haven’t disappeared. They’re simply being selective.

As we head into fall, sellers need to pay close attention to pricing and competition, while buyers should keep an eye on homes that have been sitting on the market or recently adjusted their price.

The market is still moving. It just requires a little more strategy from both sides.