March Market Report

U.S. existing-home sales rebounded from the previous month, rising 4.2% to a seasonally adjusted annual rate of 4.26 million units, according to the National Association of REALTORS® (NAR). Economists polled by Reuters had forecast sales would fall to a rate of 3.95 million for the month. Purchase activity increased in the South and the West but decreased in the Northeast, while sales in the Midwest remained unchanged from one month earlier.

New Listings increased 13.7 percent to 133. Pending Sales were up 8.2 percent to 92. Inventory levels grew 5.3 percent to 473 units.

Prices continued to gain traction. The Median Sales Price increased 42.1 percent $270,000. Days on Market was up 16.3 percent to 107 days. Buyers felt empowered as Months Supply of Inventory was up 7.1 percent to 4.5 months.

Heading into March there were 1.24 million properties for sale, a 5.1% increase from the previous month and a 17% jump from one year ago, for a 3.5-month supply at the current sales pace, according to NAR. While mortgage rates have remained in the mid-to-high 6% range, the additional supply appears to have helped bring some buyers out of the woodwork, even as sales prices continue to rise nationwide.

Curious about the current value of your home? Don’t hesitate to reach out to a member of the Kira Witherwax Team at RE/MAX North Country.

To view the full Market Report for March download the link below.

ACVMLS-March 2025- APRIL Release.pdf

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