There were 79,528 showings in the Bright MLS service area for the week ending October 20, marking a 12.2% increase compared to the same week last year and a 4.1% rise from the previous week. Showings had been trailing behind 2023 for most of the year, but after several weeks of gradual increases since early September, more home shoppers are entering the market with renewed confidence this October.

Historically, prices have a seasonal cool off period in the fall months. This week, the median list price in the Bright MLS Service area was $400,000, a 4.7% decrease from last week. Prices may be coming down seasonally, but affordability is still a challenge for buyers as the median list price was still 1.3% higher than the same week last year.

There were 5,499 new listings this week, reflecting a 9.8% surge compared to the same week in 2023. Typically, as the market cools in the fall, new listings decline week-over-week, but this week stands out as an exception. Seller confidence has been growing in the latter half of the year, contributing to a healthier supply of homes. Despite the welcome increase in new listings, by historical standards, supply remains significantly lower compared to more typical years like 2019.