Rising Inventory, Softer Showing Activity
As we move into the fourth quarter, it’s normal to see sales activity ease and new listings taper off. What’s different this year is that inventory has climbed higher than we’ve seen in quite some time.
Inventory
As of September 30th, Southeast Michigan inventory was up 15% compared to a year ago and 26% compared to 2024. New listings have been arriving faster than homes are selling, giving buyers more options heading into fall.
Showings Tell the Story
Showings, which are an early signal of buyer demand, have kept pace with prior years overall. But with more listings on the market, the number of showings per listing has gradually slipped to around 6 showings per month in Oakland and Macomb and 4 in Wayne County.
We’re also seeing market times stretch to just over 30 days for homes that went pending in September and nearly 30% of active listings require a price reduction before going under contract. These are clear signs that the market is slowly shifting toward a more balanced, more traditional rhythm.
What This Means for Agents and Clients
Despite the cooling pace, the market remains healthy. Half of September’s sales still closed at or above list price — proof that well-priced, well-prepared homes are drawing strong offers.
For sellers, it’s more important than ever to focus on presentation and pricing right from the start. The days of “testing” the market with higher list prices are fading. For buyers, this shift brings a bit more breathing room — more choices, less competition, and opportunities to negotiate, especially as we move deeper into fall and winter.