How’s The Market Today?
The US residential real estate market in September 2025 saw some regions heating up while others cooled off, reflecting a mix of high prices, different speeds of sales, and affordability challenges for both buyers and sellers. Here’s a friendly, region-by-region look at what was happening, focusing on cost per square foot, time homes spent on the market, and average sale and asking prices — all based on reputable government and Realtor sources.
National Market Snapshot
- The average sales price for an existing single-family home reached $429,400 nationwide, climbing 1.7% over the past year — an all-time high but a slower growth rate than earlier in 2025.
- Affordability remained a challenge, with the typical family putting about 25.7% of income toward mortgage payments in August, slightly up from the spring.
- Many sellers set high asking prices, but with more homes for sale and buyers becoming pickier, discounts and price adjustments became common, especially in previously hot markets.
The East
- The Northeast region stayed lively, with the median price for an existing home at $527,200 — a robust 6.1% year-over-year increase.
- Supply was tight. Because fewer people wanted to move, houses that did come up for sale were snapped up quicker compared to other regions, keeping days on the market relatively low.
- Cost per square foot here was among the highest in the country, especially in major metro areas like New York and Boston, reflecting steady demand.
The West
- The West continued to be the most expensive region, with a median home price of $646,100, though growth slowed to just 0.6% over the year.
- Some cities such as San Francisco and San Diego even saw prices dip a bit, prompting motivated sellers to accept lower offers or offer perks.
- On average, homes took longer to sell as inventory rose, buyers had more choices and less urgency, stretching the average days on the market compared to 2024.
- The cost per square foot remained the highest nationally, but buyers were driving harder bargains by late summer.
The North (Midwest)
- In the Midwest, typical homes averaged $328,800 – up a notable 3.5% over last year, though much more affordable vs. the East and West.
- This region was one of the few where homes still sold fairly quickly, as local buyers took advantage of better prices and less competition from out-of-state investors.
- Cities like Toledo and Akron, Ohio, led price growth, but days on the market hovered around a month — a sign of healthy activity and steady demand.
The South
- The South saw prices stabilize, with the median at $376,300 — holding steady from 2024.
- With more new homes being built, many Southern metros, especially in Florida and Texas, experienced a mini price correction as buyers gained more options.
- Sellers had to work harder, with homes lingering longer on the market, often well over a month, and more listings having to cut prices or offer incentives to attract offers.
- Cost per square foot softened, making the region attractive for budget-minded buyers looking for larger homes with good amenities.
Market Trends in a Nutshell
- Cost per square foot: Highest in the West and Northeast; the South and Midwest offered more space for the price.
- Days on market: Shortest in the Northeast and Midwest, longer in the West and South as inventories grew.
- Prices: Average asking prices stayed ambitious, but sale prices often ended up lower — especially in areas with more competition among sellers.
September 2025’s market wasn’t the gold rush of past years, but it offered more balance. Buyers could breathe a little easier, and sellers had to be realistic and flexible, resulting in a friendlier — if not frenzied — real estate landscape across the country.