Market Summary for the Beginning of February 2026

Here are the basics – the ARMLS numbers for February 1, 2026 compared with February 1, 2025 for all areas & types:

• Active Listings: 22,593 versus 22,432 last year – up 9.6% – and up 9.7% from 22,428 last month
• Under Contract Listings (including Pending): 7,564 versus 7,403 last year – up 2.2% – and up 31% from 5,782 last month
• Monthly Sales: 4,843 versus 4,736 last year – up 2.3% – but down 24% from 6,403 last month
• Monthly Average Sales Price per Sq. Ft.: $314.50 versus $313.54 last year – up 0.3% – and up 3.7% from $303.39 last month
• Monthly Median Sales Price: $447,000 versus $453,500 last year – down 1.4% – and down 1.8% from $455,000 last month

We saw an unusually strong decline in supply during December, but this came back strongly in January as many sellers who had cancelled listings during the fourth quarter put them back on the market last month. Thus we see almost 10% more active listings than a month ago.

Demand is up a little from a year ago, but not as much as expected, given interest rates are a lot lower than this time last year. The typical 30-year fixed rate is currently around 6.2% while a year ago it was just over 7%. Pending listings are actually down year over year, but this is because more agents are using UCB status instead. The total number of listings under contract is up a modest 2.2% from Feb 1, 2025. This is better than a decline, obviously, but it hardly represents enthusiastic buying.

Monthly closings are also up 2.3% year over year but January’s 4,843 was a steep drop of 24% from December’s 6,403. There was a headwind working against January 2026 since it contaned 1 fewer working day compared with January 2025 and 2 fewer working days than last December. Again, this is an underwhelming closing count considering that mortage expenses are considerably lower.

The contract ratio of 30.8 compared favorably with 25.8 at the start of January, but it still represents a cool market. It is also lower than the 33.0 we saw this time last year, primarily because we have more available supply than a year ago.

The Cromford® Market Index is up from 86.7 last month to 88.1, but it is currently movng lower and is down from 89.3 a year ago. The trend is not particularly strong, but it is currently working in favor of buyers rather then sellers. This could easily turn around if demand picked up and if active listings reach an early peak and start falling as more of them go under contract. Whether this happens or not is still a tough call.

Overall, the market is stable and demand is better than a year ago. However it is not better by enough to compensate for the extra supply that sellers have to compete with. There is still downward pressure on prices in the low and middle ranges, especially in areas with excessive supply. Do not be fooled by the average price per square foot going up 3.7% compared with December. The median sales price is more representative of the bulk of the market (excluding luxury homes) and it went down 1.8% over the last month. Rarely do we see such a mis-match between average $/SF and the median sales price, but that underscores how much better demand is at the top end of the market compared with the lower and middle price ranges. Cromford Report

The market may shift, trends may change, but my commitment doesn’t.  Strategic guidance, elevated marketing, and a client-first approach to every transaction, every time.  The standard has always been high, and it stays that way.  If 2026 is your year, I’m here to guide you through it.  Shawn