New listings
304-39.8% YoY
New supply contracted sharply
Market Intelligence Local data through September 2026
Current market signalSupply tightened.
Supply tightened.
Buyer momentum cooled.
New listings and pending sales declined sharply in both property categories. Inventory remained below last year, while closed sales held level for single-family homes and fell for condos and villas.
Pending sales fell 15.4% for houses and 17.6% for condos and villas.
New listings fell 39.8% for houses and 34.5% for condos and villas.
Inventory remained tighter in both local property segments.
Market snapshot
What changed
Year-over-year comparisonSeptember 2026 compared with September 2025
Active inventory
1,268-12.5% YoY
Fewer homes were available
Pending sales
318-15.4% YoY
Contract activity moved lower
Closed sales
3390.0% YoY
Completed sales held level
Median days on market
55+17.0% YoY
Homes required more marketing time
Months supply
3.8-13.6% YoY
Available supply remained tighter
Median sale price
$580,000-4.9% YoY
Median pricing remained softer
Median price per sq. ft.
$274-2.8% YoY
Unit pricing edged lower
Median LP/SP ratio
96.0%+0.3% YoY
Sale-to-list performance improved
Median shows to pending
10+11.1% YoY
More showings preceded a contract
Pricing and conversion
What turns interest into a contract
Property typePrice / sq. ft.LP/SP ratioShows to pending
Single-family$274-2.8% YoY96.0%+0.3% YoY10+11.1% YoY
Condos & villas$366-2.4% YoY96.3%+1.7% YoY6-40.0% YoY
Price signals require context. Condo/villa median price rose sharply while price per square foot declined. Use recent comparable sales and property mix before drawing a pricing conclusion.
What agents can do now
- 01Measure the competition
Inventory is lower in both segments, but pending activity also declined. Position each listing against the homes buyers are choosing now.
- 02Use unit pricing as a cross-check
Price per square foot declined in both segments, even as the condo/villa median sale price rose sharply.
- 03Read early showing patterns
The median path to pending was 10 showings for houses and six for condos and villas. Track feedback by property type.
- 04Prepare for a softer pipeline
Pending sales fell in both segments, suggesting fewer near-term closings if current contracts follow typical patterns.
Local versus national
The market is moving in different directions
LocalUnited States
Active inventoryYear-over-year
Local -12.5%U.S. +5.4%
New listingsYear-over-year
Local -39.8%U.S. -0.7%
Pending activityYear-over-year
Local -15.4%U.S. -4.1%
What the divergence means: National active inventory increased 5.4%, while local single-family inventory fell 12.5% and condo/villa inventory declined 2.2%. New listings fell much more sharply locally than the national 0.7% decline. Pending activity weakened in all three comparisons, with local declines of 15.4% and 17.6% versus a 4.1% national decline. The local market is operating with tighter supply and a more pronounced slowdown in contract activity.
96.0%
Single-family LP/SP ratio
96.3%
Condo/villa LP/SP ratio
10 / 6
Shows to pending: houses / condos
Client-ready takeaway Local supply is tighter, but fewer homes moved into pending status. Accurate pricing, segment-specific evidence, and a close read of early feedback remain essential.
What the September Numbers Show
September 2026 market activity
September’s data reflects a market with less new supply and softer contract activity across both property types. New listings and pending sales declined by double digits in each segment, while local inventory remained below year-ago levels. Closed sales were steadier for single-family homes than for condos and villas, and the pricing measures point to a market that remains selective rather than uniformly moving in one direction.
In the single-family segment, new listings fell 39.8%, and inventory declined 12.5%. Pending sales were down 15.4%, while closed sales were unchanged from last year at 339. Median days on market increased 17.0% to 55 days, and the median number of showings needed to reach pending rose 11.1% to 10. Months of supply declined 13.6% to 3.8 months. Even with tighter supply, the median sale price fell 4.9% to $580,000, and the median price per square foot declined 2.8% to $274. The median sale-to-list price ratio improved slightly to 96.0%. Together, these measures show that limited inventory did not translate into stronger pricing or faster buyer decisions.
The condo/villa segment also recorded weaker transaction activity. New listings fell 34.5%, inventory declined 2.2%, pending sales dropped 17.6%, and closed sales fell 12.8%. At the same time, median days on market improved 26.7% to 55 days, the median sale-to-list price ratio rose 1.7% to 96.3%, and shows to pending declined 40.0% to six. Months of supply held at 5.6 months. The median sale price increased 30.2% to $499,900, but the median price per square foot fell 2.4% to $366. That divergence is consistent with a change in the mix of properties sold, although these aggregate figures cannot confirm the cause. The median increase alone does not establish broad-based appreciation.
Taken together, the September numbers show tighter local inventory alongside slower contract activity. That differs from the national supply picture, where active inventory increased, but it aligns with the broader decline in pending activity. For agents and brokers, the practical signal is to interpret each property segment on its own terms: use recent comparable sales and price-per-square-foot evidence, set expectations around current marketing time, and respond closely to early showing patterns. Limited supply can support well-positioned listings, but it does not remove the need for disciplined pricing and strong presentation.