Around the Lake — Here’s What You Need to Know About the Market

National headlines grabbed attention this month after existing-home sales dropped 8.4% in January — even as mortgage rates fell to their lowest level in three years. At first glance, that feels contradictory. Lower rates are supposed to stimulate demand. Yet the data shows the slowest sales pace in over two years, while the national median price still climbed to $396,800. So what’s really happening?

Here in Belknap County and the broader Lakes Region, the story is more nuanced. Inventory has increased modestly, and days on market have stretched slightly compared to last year. Months of supply is hovering around 3.5 months — still below what we would consider a fully balanced market. This isn’t dramatic movement. It’s a market finding its footing. It’s normalization after several unusually aggressive years.

What I’ve noticed working with buyer clients this winter reinforces that point. When a property is priced properly, we are still competing. In at least two recent situations, we found ourselves in multiple-offer environments — with offers going over asking and including very favorable terms for sellers. Buyers are more selective and more analytical than they were during the frenzy, but when value is clear, they move decisively.

As we head into the spring market, conditions are shaping up to be more negotiable than the peak years — but still strategic. Pricing discipline, thoughtful preparation, and strong positioning will matter more than ever. National trends provide context, but local strategy determines outcomes. If you’re considering a move around the lake this year, the smartest first step is understanding exactly where your property — or your buying power — fits in today’s evolving mark