August 2025 Market Recap & Highlights

Market Snapshot

 Sales Up Slightly: 5,211 homes sold, up 2.3% from August 2024.

 Listings Surged: 14,038 new listings, up 9.4% year-over-year.

 Prices Down: Average selling price fell 5.2% to $1,022,143.

 Month-to-Month Stability: Prices and sales held steady compared to July.

Condos

 More Inventory, Softer Prices: Buyers have more leverage with increased supply.

 Renters Take Note: With condo prices dipping, some renters may find ownership within reach—especially with potential rate cuts ahead.

Selling a Condo:

 Be Competitive: With more condo listings on the market, buyers have options—so pricing and presentation matter more than ever.

 Highlight Lifestyle & Value: Emphasize location perks, amenities, and affordability compared to detached homes. First-time buyers and renters are watching this segment closely.

 Stage Smartly: A well-staged condo can stand out in a crowded market and help buyers emotionally connect with the space.

 Expect Negotiation: Buyers are cautious and price-sensitive right now, so be prepared for offers below asking and longer decision timelines.

Townhomes

 Family-Friendly & Accessible: Price drops make townhomes more attainable for upsizing renters or first-time buyers.

 Renters Eyeing Space: Those renting apartments may see townhomes as a step up in lifestyle and investment.

Selling a Townhome:

 Still in Demand: Townhomes remain attractive to families and upsizers, but buyers are choosy. Make sure your home shows well and is priced right.

 Flexibility Wins: Offering incentives like flexible closing dates or covering some closing costs can help seal the deal.

Detached Homes

 Price Pressure Continues: Detached homes saw the steepest price declines.

 Upsizing Opportunity: Renters with savings or equity may find this a rare chance to enter the detached market at a discount.

Selling a Detached Home:

 Price Strategically: Detached homes are facing the most price pressure. Overpricing could lead to extended time on the market.

 Focus on Unique Features: Highlight renovations, lot size, outdoor space, and lifestyle benefits to differentiate from other listings.

Buyer Perspectives

 Negotiating Power continues: More listings and lower prices mean more choice and leverage.

 Condos & Townhomes Shine: Great time for first-time buyers or renters ready to transition.

 Detached Deals: Move-up buyers can find value in the detached segment.

For Renters: What This Market Means for You

 Rent Prices Still High: Despite cooling home prices, rental rates remain elevated due to demand and limited rental supply.

 Ownership May Be Closer Than You Think: With home prices softening and interest rates potentially dropping, renters who’ve been on the sidelines might find entry points—especially in the condo and townhome segments.

 Consider Rent vs. Buy: If your monthly rent rivals a mortgage payment, it’s worth exploring ownership options. The BLOOM™ Pathway can help you map out what’s possible.