Market Update - April 2025: Prices Shift, Buyer Interest Returns
Welcome back to your mid-April 2025 update! Whether you’re buying, selling, or just keeping a close eye on the market, this month brings one major trend: the momentum is slowly shifting in favor of buyers — especially in the mid-range and affordable price brackets.
Let’s break it down.
📈 Contract Activity: 2025 Is Catching Up
In early 2024, the number of contracts was higher than in 2025.
But by March and April, 2025 caught up and even surpassed 2024, signaling renewed buyer activity.
💲 Home Price Performance by Segment
Homes under $1 million have outperformed 2024 numbers, with over 115% contract activity year-over-year.
In contrast, homes priced $1M–$2M and $2M+ have lagged behind last year’s performance, showing less buyer momentum in the luxury tier.
📉 Median Price Drops — But Not Drastically
The median sale price has now adjusted to $450,000.
This slight dip is a positive sign for affordability, which could bring more buyers back into the market.
However, let’s be real: $450K is still not “cheap” — and buyers are still facing high monthly costs due to elevated mortgage rates.
🧠 Final Insight: The Watch & Wait Game
Buyers are curious — but cautious.
Many are waiting to see if prices drop further or if interest rates ease up.
And sellers? You’ll need to monitor trends closely, because inventory and rates will be the two key forces shaping buyer behavior in the coming weeks.
