By DON FENLEY

The region’s housing market continued to normalize in October. Price adjustments were normal, negotiations were steady, and cash buyers were active.

The early count was 664 sales, up 0.9% from last year and up 1.5% from the year-to-date trend. The median sales price was $275,000, up 3.29% from last year and 5.66% higher than the 10-month trend.

The median list price of $339,950 has been flat for three months .

Half of sales get price reduction

Nearly half of all homes sold had a price reduction before going under contract, and when those adjustments occurred, they averaged $38,546 – a sign that sellers are adjusting meaningfully when needed to meet buyer demand.

Even after those pricing changes, most homes still sold with some negotiation, with about two-thirds closing below the final asking price. The average concession was $18,475, reflecting a market where buyers still have room to negotiate, but within a reasonable and consistent range.

29.6% of sales are cash deals

This year’s cash buyers are buying higher-value homes on average than before. One in three October sales were cash purchases The average cash sale was for  $362,343. That is nearly unchanged from 29.4% last year, when the average cash sale was $316,955.

What This Means Going Forward

• Prices are stabilizing around where buyers and sellers find shared value.
• Sellers are becoming more realistic and competitive on pricing.
• Buyers still negotiate, but they are not driving steep discounts.
• The market is operating at a healthy, sustainable pace.

This fall’s conditions show a housing market settling into balance and stability, allowing both buyers and sellers to move forward with greater clarity and confidence.

Categories: REAL ESTATE