The second half of 2025 was a balanced market. Buyer demand was strong but sensible, and sellers who priced reasonably or offered a more in-demand product achieved excellent results. We saw this firsthand, with several best-in-building sales on our listings and competitive bidding with our buyers, underscoring the importance of strategic pricing and presentation.

 

Activity picked up meaningfully toward year-end, with closings outperforming both 2023 and 2024 and coming in stronger than many expected. That performance reinforces a theme we’ve returned to throughout the year: demand is there, but buyers are more selective.