Lately, market data is giving buyers a bit more room to maneuver. In late Q3, about 21% of active listings saw price cuts, and inventory reached over 1.16 million homes—now within roughly 9% of what we used to consider a typical pre-pandemic market. Buyer activity remains measured, with homes under contract dropping nearly 4% year-over-year for the second month in a row, a clear sign that higher mortgage costs are still impacting affordability. The national median list price stands at approximately $419,000, down about 1% both month-over-month and year-over-year, and price per square foot dipped by around 2%. Sellers are holding steady, with about 6% of listings delisted (basically unchanged from last year), but more homeowners are adjusting prices and making room for negotiation.
In my experience guiding buyers and sellers in the High Desert, moments like these reward patience and preparation. Whether you’re looking to buy or sell, understanding how shifting inventory and pricing trends can open new opportunities is essential. The next big question: will these price adjustments bring more buyers to the table, or will we see further supply growth and a longer market reset? As always, I’m here to help clients navigate these changes with clarity, strategy, and a focus on your best interests.
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