By Mike Orr | The Cromford Report
Active listing counts are dropping quickly now. This is following a typical seasonal pattern, but the trend is stronger than we normally expect to see.
For all areas & types in the ARMLS database we record a 2.3% decrease over the last week in the number of active listings without a contract.
One of the drivers of this trend is the drop in the arrival rate of new listings. In the last week we have seen just 1,653 listing records added to the database. This is down 7% from the same week last year. For most of 2025 we have seen higher arrivals compared to 2024, so this new trend is a surprise.
Cancellations are unusually high, with 622 listings changed to cancelled status in the last 7 days. Expirations are modest at only 146, while closings are 1,559. This means the last 7 days have seen a listing success rate of only 50.7%. This is discouraging for sellers.
Indeed, it seems that sellers are pessimistic and that a larger number than normal are taking their homes off the market until the New Year. When a lot of sellers do this, it makes life easier for the remaining listings, since they have fewer competitors.
The drop in supply has caused the Cromford® Supply Index to change direction and head lower. At the same time, demand is moving steadily higher, even though it remains far below normal. We therefore expect the Cromford® Market Index to cruise to a higher level over the next 5 weeks, moving above 80 again. This is good news for the sellers who remain active.
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