Total Homes for Sale
847,825
+28% year over year (February 2024)
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Stay on top of national real estate trends so you can make confident decisions when buying or selling your home.
*Last update: March 6, 2025. Next scheduled update: April 10, 2025. Sources: Realtor.com® and Freddie Mac.
Total Homes for Sale
847,825
+28% year over year (February 2024)
Even though there are more houses on the market compared to this time last year, there’s still not enough inventory to meet demand. But the good news? The market usually picks up in the spring, and as more sellers list their homes, it could help create a better balance.
What Does This Mean?
Inventory is a big deal in the housing market because it directly impacts home prices. Plus, it’s a way to gauge home affordability and where the market is headed. When there are more homes for sale, buyers have more options, which can help bring prices down. But when inventory is low, competition heats up and prices often rise.
Average 15-Year Fixed Mortgage Rate
6.03%
-0.13 month over month (January 2025)
The average 15-year fixed rate went down last month compared to January 2025. Great news for buyers! If this trend continues, buying a home could become more affordable.
What Does This Mean?
Mortgage rates affect how much it costs to borrow money for a house. When rates go up, home loans and buying get more expensive because you’ll pay more in interest on monthly payments. When rates drop, borrowing gets cheaper and you’ll save on interest.
Median Home Price
$412,000
+3% month over month (January 2025)
Home prices went up a little, which is normal as we head into spring. There’ll be more homes hitting the market, giving buyers more options. But as more buyers jump into the market, competition could push prices higher.
What Does This Mean?
When it comes to home prices, it all boils down to supply (homes on the market) and demand (buyers in the market). Home prices usually go down when there are more properties for sale than buyers. And they rise when there are more buyers than there are homes for sale.
Median Days on Market
66
-7 days month over month (January 2025)
February is still a slower month for home sales, but the market usually picks up in March as we head into spring—the busiest season for buying and selling.
What Does This Mean?
How fast homes sell shows how competitive the market is. If they’re selling quickly, the market’s hot, and buyers need to act fast to close a home deal. Sellers can also expect a quick sale, often at asking price. But if homes sit longer, buyers may have more leverage to negotiate.
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Helpful Advice to Win in Today's Market
Crunch Your Home Buying and Selling Numbers
Based on your current salary and lifestyle in Oakland, your Marshall County salary would need to be:
$32,174which is38%
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