Lately, the housing market is shifting in ways that give buyers a bit more breathing room. As we wrapped up Q3, about 21% of active listings had price reductions, with inventory building to over 1.16 million homes—just 9% shy of typical pre-pandemic levels. That means more choices for buyers, but also a more measured pace: homes under contract dipped around 4% year-over-year for the second month in a row, reflecting how higher mortgage costs are still impacting affordability.
Nationally, the median list price sits at roughly $419,000—down about 1% from last month and last year, continuing an 11-month streak of yearly price declines. The price per square foot is down about 2% year-over-year as well. Sellers are staying active, with only about 6% of listings delisted (steady with last year), but more are adjusting prices and opening the door to negotiations.
For buyers and sellers in the Daytona Beach area, these trends mean opportunities—and important decisions. Whether this new wave of price cuts will spark more contracts, or if the market will keep adjusting as supply builds and demand softens, remains to be seen. With over two decades of experience navigating our local market, I’m always watching these shifts closely to help you make the most informed move—whether you’re searching for your first home, a waterfront retreat, or looking to maximize your sale.
Leave a Reply