The third quarter of 2025 revealed a notable shift in housing dynamics. Median home prices declined 7.5% year-over-year to $372,950, reflecting higher new build supply and affordability pressures as mortgage rates remain in the mid-6% range. Builders have responded with smaller homes and financing incentives, leading to a 28% increase in new home sales. Resale activity remained steady, rising just 3% from the previous year.
Despite the dip in purchase prices, lease rates rose 1.9% to $2,750, driven by continued economic growth in the community and the strength of the local economy. The uptick in lease rates suggests that the fundamental value of homes has improved, even as prices are temporarily depressed by elevated building volumes.
High demand persists, with both sales and lease volumes remaining elevated. Listings rose 8.2%, and homes spent more time on the market, with median days increasing from 71 to 90.5. This reflects a more balanced market where buyers have more options and time to make decisions.
New retail developments and infrastructure upgrades continue to attract residents, and builders are keeping pace with demand. Devonshire remains a vibrant and growing community, adapting to market conditions while maintaining its appeal.
For personalized real estate advice from a Devonshire expert, call Brendan Hirschmann, REALTOR® at 972-559-4648. Brendan can provide you with the insights and guidance you need to navigate the current market trends and make informed decisions.