By Tina Lucarelli | Global Real Estate Advisor | The ONE Luxury Properties
If you've been waiting for the right moment to reenter the housing market—or to make your very first offer—that moment may finally be here.
According to Redfin’s latest housing market update (July 17, 2025), sellers are adjusting their expectations, and buyers are regaining leverage. For the first time in over four months, the median U.S. asking price posted its smallest increase of the year, up just 2.9% year over year to $407,000. The median sale price now sits at $401,120, up only 1.7% year over year—a sign the pricing gap is narrowing between what sellers want and what buyers are willing to pay.
📉 Mortgage Payments Are Dropping
Even better news: The median monthly mortgage payment has dropped to a four-month low of $2,699 as mortgage rates hover around 6.72%. With wages increasing faster than home prices, housing is slowly becoming more affordable for today’s buyers.
📊 Key Market Shifts:
- Pending sales are down 1.9%
- New listings have declined 0.3%
- Active listings are up 12% year over year
- The share of homes selling above list price dropped to 27.9% (down from 32%)
- Average sale-to-list ratio is now at 99%
With the market leaning toward a more balanced playing field, buyers are seeing increased opportunities, especially in segments like townhomes, condos, and newly built homes. Builders are offering incentives like rate buydowns and closing cost assistance to move inventory. Redfin even predicts that median home prices could fall by 1% by year-end.
🔍 Buyer Behavior Is Changing
- Touring activity is up 14% YTD
- Google searches for “homes for sale” are at a 2-year high
- Purchase applications, despite a dip last week, are still up 13% year over year
💡 What This Means for You
As a real estate advisor, I always recommend staying informed and proactive. If you're a buyer, this is the time to shop, negotiate, and seize opportunities. And if you're a seller, pricing your home right—and being open to concessions—can make the difference in today’s evolving landscape.
📣 Pro Tip from the Field: Make offers—even if they’re below asking. Sellers are more willing to negotiate today than they’ve been in the past few years.
📍 If you’re navigating the market and want a strategy tailored to your goals—whether you’re buying, selling, or investing—I’m here to help. Let's connect for a no-pressure consultation.
Tina Lucarelli - Global Real Estate Advisor - The ONE Luxury Properties - DRE 02102354 - (310) 738-8089
