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.