Happy Solstice!
I had a great time Saturday downtown watching the Solstice Parade and seeing all my beautiful friends dancing their hearts out.
As for the market—every agent I’ve spoken to lately is wondering what the heck is going on! Our listings are properly priced, yet we’re getting very few, if any, calls on them. Some say it’s due to uncertainty in the economy, while others point to increased ICE activity in the area. The rise in inventory, offering buyers more options, likely plays a big role as well. What do you think? It definitely feels like we’re in the midst of a continued market shift.
That said, the numbers tell a slightly different story. Year-to-date through the end of May:
- In 2024, we saw 338 closed sales with a median price of $2,252,500.
- In 2025, we’ve already had 391 closed sales with a median price of $2,650,000.
Looking closer at recent months:
- April 2025 had 89 sales and 91 pending, with a median price of $2,350,000.
- May saw 93 sales and 104 pending, with a lower median of $2,175,000.
You’d think we could predict the next few months based on trends, but even economists are stumped. For now, it’s a wait-and-see situation.
People keep asking me if it’s a good time to buy, and my answer remains the same: Buy when you can. Whether it’s your primary residence or an investment property, if you're in a position to buy—do it. Waiting often costs more in rent (whether you’re paying or missing out on receiving it), and you can always refinance when rates come down.
Let’s hope this beautiful weather continues. Wishing you all the best that life has to offer!
Cheers!
