March Numbers Are In

🏡✨ The Market in March ✨🏡

🤝 For Buyers:

It’s been a busy month.

Contracts in escrow are up over 10% compared to last year, and buyer activity is the strongest we’ve seen for a March in the past few years. A big reason for this has been interest rates stabilizing closer to the low 6% range, even briefly dipping below 6%.

That said, while demand is improving, new listings have slowed down. Fewer homes are coming to the market, and as a result, inventory is no longer growing the way it was just a couple of months ago.

This matters.

For the past year, buyers have benefited from more options and negotiating power. But if demand continues to rise while supply stays flat, or even declines, that balance can shift.

We’ve also seen some recent volatility in rates, moving back up into the mid-6% range. When that happens, it typically causes a short pause in activity as buyers reassess. But when rates stabilize or drop again, demand tends to return quickly.

Right now, buyers still have opportunities, but the window may be narrower than it was earlier this year.


🏡 For Sellers:

The market is improving for sellers, but it’s happening gradually.

Overall activity suggests we may see stronger closing numbers in the next 4–6 weeks, and more areas are beginning to lean in favor of sellers. That said, this is still a market that requires patience and the right strategy.

Not every segment is performing the same.

Single-family homes, especially in certain price points and areas, are seeing strong demand. In parts of the West Valley under $400K, and in the Southeast Valley between $400K–$500K, we’re even seeing highly competitive conditions.

On the other hand, the condo market continues to face challenges. Inventory is higher, prices have softened, and smaller units are competing heavily with new apartment construction offering incentives.

The luxury market, however, is having a standout year, with significant growth in high-end sales and continued strong demand.

The key takeaway: this is a very location and price-specific market.

Homes that are well-prepared and priced correctly are still selling. The ones that aren’t are sitting longer and requiring adjustments.

If you’re considering selling this year, a thoughtful strategy and strong preparation can make all the difference. Let’s create a plan that puts your home in the best possible position.

Courtesy of Realty ONE Group and The Cromford Report.