March's home sales surged
According to RE/MAX's March 2025 National Housing Report, March sales increased 23 percent over February, marking the largest month-over-month sales increase since 37.4 percent in March 2023. Compared to March 2024, however, sales were down 1.4 percent.
The surge in month-over-month sales across the 50 metro areas surveyed may have been fueled by a growing number of sellers and available properties, according to RE/MAX. The number of homes for sale in March increased 8 percent from February and totaled 35.5 percent more than March 2024. Boosting the inventory was a 29.8 percent increase in new listings compared to February – and a 7.9 percent increase compared to a year ago.
March's Median Sales Price increased to $435,000, which was nearly $8,000 (1.8 percent) higher than in February and $15,000 (3.5 percent) more than a year ago.
"As we enter the prime homebuying season, the uptick in sales and inventory may lead to even more positive market activity," said RE/MAX Holdings CEO Erik Carlson. "With a relatively good supply of homes for sale, and rates holding with signs of some improvement, many buyers are finding current market conditions to be the most favorable they've seen in the past few years."
Washington D.C. saw the largest jump in month-over-month active listings in March, increasing 25.3 percent from February. Bryan Cantio of RE/MAX Allegiance in Washington D.C. said the nation's capital started to experience the increase mid-month. "We've seen a steady uptick in inventory since January, but we felt more of a surge mid-March. It's great for buyers who've been dealing with low inventory for nearly two decades, but sellers are used to brisk sales and rising prices. They might need to be prepared for more uncertainty."
Other metrics of note:
- Buyers paid 99 percent of the asking price in March – the same as in February 2025 and March 2024.
- Days on Market dropped to 44 days compared to 51 in February, while homes were on the market five days longer than in March 2024.
- Months' Supply of Inventory was 2.3, down from 2.7 in February but up from 1.7 a year ago.
Read the rest of RE/MAX's report, including regional data breakdowns, here.
