Q3 Market Wrap-Up

On the real estate front, the East Shore market has been buzzing. We saw total listings climb from 106 in August to 118 in September. With just 2.5 months of inventory, it’s still very much a seller’s market—well below the six-month mark that usually indicates balance. 

There’s been an uptick in price reductions, with 24 homes adjusting their asking prices, reflecting a bit of softness after a slower second quarter. However, single-family homes are moving faster, with the median days on the market down to 68, compared to 87 last September. The median price per square foot now sits at $686, and the median home price has settled at $1,470,000.

In September, we saw 20 new listings hit the market, keeping buyers and sellers on their toes. Of the 62 active single-family homes, 15 offer lake views, and 10 are lakefront. Out of the 112 homes and condos currently listed, 18% are under contract—clear evidence of strong buyer interest. The median price for single-family homes is $2,074,495, with the lowest-priced home currently at $795,000, a slight 4% dip from Q2.

On the condo and townhome side, inventory has held steady at 50 listings, with 9 pending (18%). The median price for condos is $659,000, down 8% from last quarter. Buyers are taking a little more time here, with median days on the market rising to 105, a 35% increase.

As we head into the final quarter, things are shaping up for a strong finish. The usual seasonal uptick, combined with easing interest rates, is likely to fuel more activity. While price adjustments reflect a more selective buyer market, demand remains strong—especially for homes with lake views or prime locations. With rates dropping and inventory staying low, it’s an excellent time to get involved in the market. Expect plenty of new opportunities as we move through the fall!