After a spring market peak of 5.5 months of inventory, supply has dropped in May and June. June saw a drop in listings being added to the market with a large drop in closed sales and tiny dip in properties going under contract. With global uncertainty and a new FED chairman wanting a new way to measure inflation, buyers and sellers are cautious. This does not mean properties are not selling. On the contrary, last month was the busiest June since 2023 for closed sales! 

New construction continues to be a strong part of our market. Of the 2,125 listings added to the MLS last month, 537 of them were new construction. That’s 25% of our new inventory!

Mid-Year Review of Expired and Withdrawn listings

An important factor in our market are the number of listings that failed to sell. These are in two categories: withdrawn properties are listings that were pulled from the market during the listing period and expired properties which didn’t sell during the listing period. So far, in 2026, this category of listings remains high compared to recent years. In our current market with many sellers having sub 4% interest rates and facing high prices when they purchase, many sellers are opting to pull their property from their market instead of lowering their price. The last 10 years of data shows that our current market has more in common with 2016 and 2017 than it does recent years. 

Here are the totals of listings that failed to sell during the first half of each year (1/1 to 6/30):

2026: 4,785

2025: 4,504

2024: 3,532

2023: 2,544

2022: 1,839

2021: 2,654

2020: 3,823

2019: 3,883

2018: 3,751

2017: 4,938

2016: 5,116

Amazing statistic that will get your attention: For every two properties that have sold so far this year, one property has failed to sell. That’s a 33% failure rate!

If you have questions about our market and would like to talk through your scenario, we’d love to connect and see how we can best help! Please don’t hesitate to contact us!