For condos and townhomes, our area has officially been in a buyers market (more than 6 months of supply), since April 2024. In February of this year, we surpassed 7 months of inventory and last month, we hit 7.5 months of inventory!

Why do we care about months of inventory? Months of inventory is calculated by taking the current number of condos/townhomes for sale (supply) and dividing that number by the number of condos/townhomes that sold last month (demand). We care about this number because it shows supply and demand in one calculation. 

March 2025 saw a 3.5% decrease in properties going under contract and a 3.9% increase in properties being added to the market compared to March 2024. Closed sales for condos/townhomes were down a whopping 27.4% compared to last March. Most Marches welcome in the spring market and prices start increasing. This March, prices are down 11.7% compared to last year. 

Is this all doom and gloom? Not at all! This is the market at work and the market is a beautiful thing. As a buyer, you can take advantage of falling prices and hopefully you’ll have sellers competing for you. 

As a seller, it has never been more important for you to work with a trusted agent. Someone who has the courage and integrity to have difficult conversations. As prices churn down, it’s important to know your goals and have a strategy on how to react to a changing market. We’re here to help you and we’d love to share market data with facts instead of feelings to help you make you make the best decision.