July Housing Market Update: Marion & Polk Counties
The housing numbers for July are in, and they’re painting a clear picture of where the local market is headed. Whether you’re a buyer or a seller, understanding these trends can help you make smarter decisions.
July Market Snapshot
Closed Sales: 310 (up 6.9%)
Median Sale Price: $446,750 (up 1.5%)
Days on Market: 62 (up 17%)
Active Inventory: 979 (up 6.1%)
New Listings: 477 (up 9.9%)
What These Numbers Mean
More Homes Are for Sale: With active inventory up 6.1% and nearly 10% more new listings, buyers have more choices than they did earlier this year. This shift is giving buyers more negotiating power and reducing the pressure to make quick decisions.
Homes Are Taking Longer to Sell: The average days on market rose to 62, a 17% increase. That means sellers should expect their homes to sit longer before going pending. This doesn’t mean homes aren’t selling — it just means the frenzy of offers within a few days is less common.
Prices Are Holding Steady: The median sale price ticked up 1.5% to $446,750. That’s a healthy but modest increase, suggesting stability. We’re not seeing the runaway appreciation of the pandemic market, but we’re also not seeing values drop sharply.
Sales Are Still Happening: With 310 closed sales (up nearly 7%), buyers are still active. Deals are closing — it’s just taking a bit more time and care.
How Mortgage Rates Factor In
Mortgage rates remain in the 6–7% range, which directly impacts affordability. Buyers are more cautious, weighing monthly payments carefully before making an offer.
For sellers, this means fewer bidding wars than in years past. The buyers who are out shopping tend to be serious and well-prepared, but they may negotiate harder on price and terms.
The Bottom Line
The July numbers show a market that’s balancing.
For Buyers: More homes to choose from, more time to decide, and the possibility of negotiating better terms.
For Sellers: Homes are still selling, but expect longer timelines and be prepared to negotiate. Pricing your home strategically is more important than ever.
The market isn’t crashing — it’s shifting toward balance.
What Does This Mean for You?
Every neighborhood and price range can tell a slightly different story. If you’re wondering how these shifts impact your specific plans — whether buying or selling — reach out. I can help you interpret what the numbers mean for your goals.
