The Washington County housing market continues to shift as we head into summer, with some notable trends that buyers and sellers alike should keep an eye on. Here’s a look at how May 2025 compared to the same time last year.

🔑 Key Takeaways

1. Prices Are Showing Mixed Signals

  • Median List Price dipped to $629,900, down from $649,000 in May 2024.

  • Median Sales Price, however, increased slightly to $529,000, up from $525,000 last year.

  • Price per square foot is up across the board — $274/SqFt for list price and $272/SqFt for sold price.

👉 What this means: While list prices are softening, homes are still selling at slightly higher prices per square foot — a sign that buyers are still willing to pay for value, but possibly pushing back on overpricing.

2. Inventory is Building

  • New listings jumped to 634, a healthy increase from 560 in May 2024.

  • Months of inventory rose from 3.9 to 5.3, signaling a shift toward a more balanced market.

👉 What this means: Buyers have more options, and sellers may face more competition — strategic pricing and staging are key.

3. Buyer Activity is Slowing Slightly

  • Sold listings dropped to 389, compared to 451 a year ago.

  • Average days on market rose to 77 days, up from 63.

👉 What this means: Homes are sitting longer, and not all are closing — buyers are taking their time and possibly negotiating harder.

4. Interest Rates Remain a Key Factor

  • The average interest rate in May 2025 was 6.89%, down from 7.06% a year ago but still historically high.

  • This likely contributed to the drop in the sold-to-list ratio (now at 96.1%), showing buyers are securing discounts.

5. Distress Signals Are Small but Growing

  • Notices of default rose to 26 (up from 20).

  • Foreclosures increased slightly to 7 (up from 5).

👉 What this means: While still low overall, these upticks suggest some homeowners are feeling the pinch of higher rates and longer time on market.

💬 What This Means for You

📍 Sellers: With more homes hitting the market and longer selling times, pricing your home right from the start is crucial. Lean on strategic marketing and standout features to attract buyers.

📍 Buyers: With more inventory and longer time on market, you're in a stronger position to negotiate. Don’t skip due diligence, but this could be your time to find a good fit.

📍 Investors: Slight upticks in foreclosures and defaults may signal emerging opportunities — but keep an eye on long-term market stability and rental demand.

 

Want personalized insights on buying or selling in Washington County this summer? The Wright Team is here to guide you with local expertise and proven strategy. Let’s connect! 📲 435.200.1955