The Fred Adams Group of RE/MAX Integrity
In the 52 metro areas surveyed in July 2025, the number of newly listed homes was up 4.4% compared to July 2024, and down 2.5% compared to June 2025. The markets with the biggest increase in year-over-year new listings percentage were Houston, TX at +43.0%, Burlington, VT at +22.6%, and Raleigh, NC at +20.9%. The markets with the biggest year-over-year decrease in new listings percentage were Dover, DE at -34.6%, Baltimore, MD at -28.5%, and Philadelphia, PA at -28.0%.
Of the 52 metro areas surveyed in July 2025, the overall number of home sales was up 0.6% compared to July 2024, and down 0.7% compared to June 2025. The markets with the biggest increase in year-over-year sales percentages were Raleigh, NC at +19.5%, Bozeman, MT at +17.7%, and Manchester, NH at +12.4%. The markets with the biggest decrease in year-over-year sales percentage were Dover, DE at -10.9%, San Antonio, TX at -10.3%, and Miami, FL at -6.8%.
In July 2025, the median of all 52 metro area sales prices was $450,000, up 2.3% from July 2024, and down 1.1% compared to June 2025. The markets with the biggest year-over-year increase in median sales price were Bozeman, MT at +19.1%, Cleveland, OH at +13.0%, and Anchorage, AK at +10.3%. The markets with the biggest year-over-year decrease in median sales price were Burlington, VA at -5.0%, San Francisco, CA at -4.2%, and Houston, TX at -3.1%.
In July 2025, the average close-to-list price ratio of all 52 metro areas in the report was 99%, down from 100% in July 2024 and the same as in June 2025. The close-to-list price ratio is calculated by the average value of the sales price divided by the list price for each transaction. When the number is above 100%, the home closed for more than the list price. If it’s less than 100%, the home sold for less than the list price. The metro areas with the highest close-to-list price ratios were Hartford, CT at 104.4%, Trenton, NJ at 102.1%, and New York, NY at 102.0%. The metro areas with the lowest close-to-list price ratio were Miami, FL at 94.3%, New Orleans, LA at 96.3%, followed by a tie between Houston, TX and Tampa, FL at 96.7%.
The average days on market for homes sold in July 2025 was 44, up seven days compared to the average in July 2024 and up three days compared to June 2025. The metro areas with the highest days on market averages were San Antonio, TX at 83, Miami, FL at 78, and Phoenix, AZ at 75. The lowest days on market were Hartford, CT and Manchester, NH tied at 20, followed by Milwaukee, WI at 23. Days on market is the number of days between when a home is first listed in an MLS and a sales contract is signed.
After five consecutive months of gains, U.S. home sales dipped slightly in July, falling 0.7% below June’s total. Compared to July 2024, sales were up 0.6%, but homes took longer to sell—averaging 44 days on the market, up from 37 days a year ago and three days longer than June, according to data from the 52 metro areas surveyed.
The Median Sales Price in July was $450,000, down 1.1% from June – a typical seasonal trend. Year-over-year, prices were 2.3% higher.
Inventory also saw a slight month-over-month decline of 0.8% but was 27.7% higher than July 2024. A 2.5% drop in new listings contributed to the monthly decrease, though new listings were still 4.4% above last year’s levels.
“July’s housing data reflects a market that’s adjusting seasonally,” said REMAX CEO Erik Carlson. “Homes are taking a bit longer to sell, but inventory has remained consistent and prices have held steady. That’s a sign of resilience—and continued opportunity for both buyers and sellers.”
In San Antonio, Texas, one of the top five markets in the report for housing supply, the 5.6-months’ supply of inventory signals a more balanced environment. As the market continues to normalize, local expertise can be even more critical in helping clients navigate pricing and strategy.
“While the number of sales was down and the days on market increased, the average sales price also continued to increase,” said Sara Briseño Gerrish, Broker/Owner of RE/MAX Unlimited in San Antonio. “Now more than ever, it’s crucial to work with an experienced real estate agent who understands the local market dynamics. This will ensure sellers have a comprehensive pricing strategy and buyers are able to leverage that expertise into a strong offer.”
Other metrics of note:
The RE/MAX National Housing Report is distributed each month on or about the 15th. The first Report was distributed in August 2008. The Report is based on MLS data in approximately 53 metropolitan areas, includes all residential property types, and is not annualized. For maximum representation, many of the largest metro areas in the country are represented, and an attempt is made to include at least one metro from each state. Metro area definitions include the specific counties established by the U.S. Government’s Office of Management and Budget, with some exceptions.
Transactions are the total number of closed residential transactions during the given month. Months Supply of Inventory is the total number of residential properties listed for sale at the end of the month (current inventory) divided by the number of sales contracts signed (pended) during the month. Where “pended” data is unavailable, this calculation is made using closed transactions. Days on Market is the number of days that pass from the time a property is listed until the property goes under contract for all residential properties sold during the month. Median Sales Price is the median of the median sales prices in each of the metro areas included in the survey.
MLS data is provided by contracted data aggregators, RE/MAX brokerages and regional offices. While MLS data is believed to be accurate, it cannot be guaranteed. MLS data is constantly being updated, making any analysis a snapshot at a particular time. Every month the RE/MAX National Housing Report re-calculates the previous period’s data to ensure accuracy over time. All raw data remains the intellectual property of each local MLS organization.