Summer is winding down, the kids are back in school, Labor Day is behind us, and the Downriver housing market is beginning to look a little different.

The biggest change this month?

There are considerably more homes for buyers to choose from—but home prices remain strong.

There are currently 725 active listings across the Downriver communities I track, compared with 659 in my previous market update. That's an increase of approximately 10%.

At the same time, months of inventory has climbed from 2.39 to 3.11 months.

That's a significant increase of roughly 30%.

So, are we finally entering a buyer's market?

Not quite.

More Inventory Is Giving Buyers Some Breathing Room

Generally speaking, around six months of housing inventory represents a balanced market.

At 3.11 months, Downriver remains below that level.

However, we've clearly moved away from the extremely tight inventory conditions buyers experienced earlier this year.

That's good news for buyers.

Instead of feeling like they have to jump at the first acceptable house that hits the market, buyers may have a little more opportunity to compare homes, consider their options, and negotiate.

For sellers, it means competition is increasing.

Simply putting a house on the market isn't enough. Pricing, condition, presentation, professional photography, and marketing become increasingly important as buyers have more listings to choose from.

But Here's the Interesting Part: Prices Went UP

Last month I pointed out something we hadn't seen yet this year: the average Downriver sales price had slipped slightly compared with the previous year.

I said at the time that one month doesn't make a trend.

This month's numbers demonstrate exactly why.

The current average sales price is $214,095, compared with $206,406 in our previous update.

That's an increase of approximately 3.7%.

So while inventory is increasing, we aren't currently seeing that increased supply translate into falling home values.

That's an important distinction.

Homes Are Still Selling

The average Downriver home is currently spending 21 days on the market.

That's actually down from 25 days in our previous update.

That tells us buyers haven't disappeared.

They're still purchasing homes, particularly when those homes are priced appropriately for their condition and neighborhood.

Why Is Inventory Increasing?

There probably isn't one single explanation.

Seasonality is likely playing a role. Real estate activity typically changes as summer ends, vacations wrap up, and families turn their attention toward getting kids back into school.

Affordability and interest rates may also be making some buyers more cautious.

When borrowing costs increase, buyers don't necessarily stop looking for homes—but their monthly payment becomes a much bigger part of the purchasing decision.

That can make buyers more selective about both price and condition.

What Does This Mean for Downriver Sellers?

This remains a good market to sell a home.

But it's becoming a market where strategy matters more.

When buyers only have a handful of homes to choose from, sellers can sometimes get away with aggressive pricing or less-than-perfect presentation.

As inventory increases, buyers have alternatives.

That's when professional photography, proper preparation, strong online marketing, and—most importantly—accurate pricing really start paying off.

What Does This Mean for Downriver Buyers?

You're finally getting a little breathing room.

We're certainly not swimming in inventory, but 3.11 months of supply gives buyers more choices than they had earlier this year.

That could mean fewer situations where you feel pressured to make an immediate decision simply because you're worried another house won't become available.

It may also create opportunities for negotiation, particularly with homes that have been sitting on the market.

What I'm Watching This Fall

The next few months should be particularly interesting.

I'll be watching whether inventory continues climbing as we move deeper into fall—and, more importantly, whether home prices continue holding up as buyers gain additional choices.

Right now, the Downriver market isn't telling us that home values are falling.

It's telling us that inventory is increasing while prices remain strong.

That's a much different story.

Wondering What Your Home Is Worth?

Real estate is extremely local. The Downriver-wide average doesn't tell you exactly what's happening on your street—or what your particular home could sell for.

I'm Demian Allgeyer, REALTOR® with Real Estate One, and I can prepare a FREE personalized market analysis using recent sales and current competition in your neighborhood.

If you're thinking about selling—or you're simply curious what your home might be worth—request your free market analysis today.

Have a house to sell? I'll make it a walk in the park. 🌳