Real Estate Spring is in Swing

February brought a surge of new listings, as is typical for this time of year. The seasonal nature of our market is predictable—spring is for buying and selling, while summer shifts focus to vacations and outdoor activities. This year is no different, with February showing strong signs of an active market ahead.

One of the strongest indicators of a busy spring is the rise in new listings, up 11.17% month-over-month and 13.81% year-over-year. For the past two years, new listings have remained low as homeowners held onto their historically low mortgage rates. However, as time passes, life changes are beginning to outweigh financial hesitations, prompting more homeowners to list.

Pending sales also saw an increase year-over-year, up 2.48% for attached homes and 11.68% for detached homes. The rise in attached home sales is especially notable after this segment lagged in 2024 due to increasing HOA fees and insurance costs. Buyers are adjusting to a market where interest rates are expected to remain elevated, though February’s economic data led to a slight decline in mortgage rates, with the 30-year fixed ending the month at 6.79%.

Another key sign of a heating spring market—homes are selling faster. Detached homes spent a median of 27 days on the MLS, down 37.21% month-over-month, compared to 43 days in January. Attached homes also saw a month-over-month decline of 12.5% in market time, from 48 days in January to 42 in February. 

Altogether, the data points to an increasingly active market—more listings, more buyers, and quicker sales. While conditions remain favorable for sellers, buyers are also benefiting from increased inventory and a slight reprieve in mortgage rates. As we move further into spring, demand is expected to remain strong, keeping competition steady, particularly for move-in-ready homes.

Check out these great March Events!

March 7-16: Denver Restaurant Week

“With an ever-growing number of food and beverage awards to its name (including several from the uber-prestigious James Beard Foundation and MICHELIN Guide), Denver has quickly become a dining destination for foodies. You’ll find plenty of fine dining options at chef-owned eateries, along with cuisine from around the globe at our gourmet food halls and markets, and fresh, local ingredients like green chile and Colorado beef and lamb. Denver Restaurant Week will showcase the creative, exciting menus that diners have come to expect – with both to-go and in-person options. Denver Restaurant Week will include four price points: $25, $35, $45, and $55 for a multi-course meal.” More Info!

Two neighboring families lost their houses in a Colorado wildfire. One was reimbursed for the contents of their home within seven weeks, and the other is still fighting.

A condo in the city center, a country villa nearby and a loft in the a historic district.

Designed by the architect Carl Graffunder, a house built in 1964 is getting the love and respect it deserves.

Bell Works, the setting of the hit serial for Apple TV+, is now a tourist attraction, drawing fans to the architectural wonder.

Most insurance companies will not require policyholders to itemize lost belongings, though some major companies, including State Farm, have refused.

With about $400,000 to spend, a Cincinnati transplant hit Manhattan looking to immerse herself in everything New York had to offer.

This week’s properties are in Central Harlem, Sutton Place and Howard Beach.

This week’s properties are a four-bedroom in Manasquan, N.J., and a three-bedroom in Huntington Bay, N.Y.

A study found that New Yorkers seeking to leave town most often search for homes in Philadelphia.

A study found that New Yorkers seeking to leave town most often search for homes in Philadelphia.

Family quarters were built in dozens of New York City branches for custodians with the grueling job of stoking the coal-fired furnaces.

A condo in Miami, a 1920s cottage in Newport and an adobe house in Taos.

As some people age, they begin to think more seriously about building equity in their homes and having something to leave to their heirs.

An anonymous buyer paid $35 million for the hedge fund manager Igor Tulchinsky’s condo on the 55th floor of 220 Central Park South.

Designers can tuck storage into the furniture, behind the walls, along hallways and into awkward spaces.

A Pennsylvania couple left tech jobs to devote their time to renovating and selling homes. This dream project, however, won’t be put back on the market.

Rise of Remote Work InfluenceThe shift to remote and hybrid work continues to impact housing demand, with buyers prioritizing home offices and suburban or rural locations over city centers.High Mortgage Rates Affecting AffordabilityElevated mortgage rates have made homeownership more expensive, leading to slower sales and more demand for rentals in...

With fierce competition and less inventory, potential buyers are bracing for a fight or wondering if they will have to leave the city to become homeowners.