The latest market summary shows a clear shift in Sheridan’s residential real estate landscape. As we move into the final quarter of the year, both buyers and sellers are navigating a market that looks very different from the fast-paced environment of the past few years. Here are the standout trends shaping our local market.
Inventory Continues to Rise
Active listings have increased steadily, providing buyers more choices than they’ve had in several years. Compared to the low-inventory conditions of 2020–2023, today’s market offers a more balanced selection of homes across price points.
An increase in supply often signals softer competition, fewer bidding wars, and more negotiating opportunities. Buyers who stepped back during the peak frenzy may find conditions far more favorable today.
Sales Volume Has Declined
“Sold” listings are trending downward year-over-year. This softening reflects a combination of higher interest rates, increased inventory, and cautious buyer behavior.
Even with a lower number of sales, demand remains steady—particularly for well-priced homes in quality condition. Sellers are succeeding when they price strategically in line with today’s market, not last year’s peak.
Prices Appear to Be Stabilizing
Despite softer sales activity, average prices have remained relatively stable. This signals that Sheridan’s foundational demand remains strong, supported by steady population growth, a desirable lifestyle, and limited long-term housing supply.
Price stabilization often indicates a transition period—a market finding its new equilibrium after rapid appreciation in prior years.
Homes Are Taking Longer to Sell
Days on Market (DOM) have increased across most segments. Homes that once sold in days or a few short weeks are now taking longer to secure offers.
This shift gives buyers more time to shop, compare, and negotiate—while offering sellers a reminder that pricing, presentation, and strategy matter more now than during past “instant-offer” years.
A Balanced Market Is Emerging
For the first time in years, Sheridan’s residential market is beginning to resemble a more balanced environment. Neither buyers nor sellers overwhelmingly control the market—each side now has advantages:
- Buyers benefit from more inventory and negotiating power.
- Sellers benefit from steady home values and strong underlying demand.
- The Market Overall is transitioning from high-speed to steady and sustainable.
What This Means for You
Whether you’re thinking about buying or selling, understanding market conditions is key:
- Buyers: More options + less competition = a great time to re-enter the market.
- Sellers: Proper pricing and strong home preparation are essential to capturing today’s buyers.
- Investors: A slower market often reveals excellent opportunities.
If you’d like a personalized breakdown of what this market means for your home or your goals, our team at Century 21 BHJ Realty is here to help.
To stay updated on Sheridan’s housing trends, follow our blog or reach out anytime!