Local sale shows market still hot

One Springfield-area house still moved like it was 2021: listed at $299,000, it drew three offers in eight days and went under contract above asking to a first-time buyer. (krdo.com) KRDO reported the sellers accepted the bid in April and expected to close later in the month. The same report said the average 30-year mortgage rate had dropped below 6% in late February, then climbed back to 6.30% this week after peaking at 6.46% earlier in April. (krdo.com; freddiemac.com) That quick sale landed in a slower national spring market. Redfin said pending home sales fell 0.8% year over year in the four weeks ending April 13, while the median U.S. sale price rose 2.3% to $390,000. (redfin.com) Long Island showed the same split. Long Island Business News reported single-family inventory rose to 4,637 homes in March, while the median sale price for the first quarter held at $750,000, up $30,000 from Q1 2025. (libn.com) The county numbers were wider apart. Nassau County’s median single-family price was $849,000 in March, while Suffolk County’s was $680,000, and closed sales across Long Island rose to 1,425 in March but still trailed last year’s pace. (libn.com) More listings have not produced a full buyer’s market. Realtor.com said active inventory in March was up 8.1% from a year earlier, but still 13.8% below pre-pandemic levels. (realtor.com; cnbc.com) The National Association of Realtors said homes spent a median 41 days on the market in March, up from 36 days a year earlier. Its March survey also said the season looked less competitive than March 2025 even as the share of homes sold above list price increased from February. (cms.nar.realtor; menafn.com) That leaves sellers in a narrower lane. Homes that are priced well and move-in ready can still attract multiple bids, while higher borrowing costs and shakier buyer traffic are slowing down the broader market around them. (krdo.com; cms.nar.realtor)