Welcome to Market Talk! I’m Liz Moore, President of Liz Moore & Associates, and in this issue we’re going to look at how our local real estate markets have shifted over the first quarter of 2025.
How’s the Market?
It’s hard to believe that it has been 5 years since the onset of the Pandemic. As everyone is aware, it has been an unprecedented time of roller coaster ups and downs in the real estate industry. Out of curiosity, I did a comparison of our performance for the first quarter of
2025 and compared it to the first quarter of 2019, pre-pandemic. Interestingly, listings and sales numbers were very, very close – signaling that we have finally resumed pre-pandemic numbers. What was drastically different, however, is our average sales price. Companywide, it shows a 50+% increase in just 6 years! Wow. That’s great news for sellers who have enjoyed unprecedented equity growth.
It looks like the market is balancing a little bit, so let’s dive in to some of the key benchmarks that we track.
Based on the first quarter of 2025, appreciation is closer to “normal” rates that we saw pre-pandemic. What will be interesting is to watch what the spring markets bring as our inventory is still on the low side.
We joke in the office that the market is rather “schizophrenic” right now: some
segments of the market are as hot as ever and still commanding multiple
offers, while others have cooled and those sellers are sitting on the market a
bit, and entertaining lower offers and even concessions in some cases.
Now more than ever it’s essential to have an experienced REALTOR to guide
you through the process, as both pricing and offer strategies are currently
quite complex.
Inventory 
Inventory has been steadily climbing for the past 2 years. Although there are over 27% more homes on the market today than there were a year ago, the overall inventory is still less (by nearly 23%) than pre-pandemic.
What's Happening with Interest Rates?
Although there is always much discussion surrounding interest rates, there hasn’t been a great deal of movement this year. From my perspective, that’s a good thing. Rates have declined slightly during the first quarter, but are holding steady in the low to mid 6’s.
The key to me is consistency. The craziness of the rate roller coaster for the past 2 years seems to finally be in our rear-view mirror, and
most homebuyers have adjusted to the current climate. Current rates are still well below the 50-year average of 7% and that seems satisfactory to coax consumers back into the market. Buyers are realizing that they must balance the interest rates with the higher sales prices if they elect to wait.
How Has the Recent NAR Settlement Effected the Local
Real Estate Markets?
Many of you have asked us what impact the National Association of REALTORS settlement has had here locally. As a brief overview, there was a flurry of class action lawsuits last year that culminated in a massive NAR settlement on behalf of brokerages across the country that resulted in some significant practice changes, most notably that seller paid compensation for buyer agents may no longer be shared via multiple listing services.
As a result, we are encouraging sellers to be prepared to participate in buyer agent compensation, but to wait until there is an offer in hand to decide if and what they will pay.
On the flip side, buyers should be prepared to compensate their agent; however, in many cases sellers are still paying. Your Liz Moore & Associates agent can share recent data to show you what’s happening with our clients in the market. Real estate commissions have always been negotiable, and that is continuing. As a consumer, you should hire your agent based on the value that they bring to the transaction on your behalf.
We Love to Talk Real Estate.
Questions? Whether it is about your home’s value, whether or not it may be a good time for you to move or invest, or if you’re just curious about the market, email us at info@lizmoor.com.
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Liz Moore & Associates is a boutique real estate agency renowned for having the region's top agents, with extensive market knowledge and local expertise that is only achieved through relentless training coupled with Liz's extremely high standards for professionalism. When you're buying or selling a home, experience matters.
