Third Quarter Review: 2026

The third quarter continued to show meaningful differences across property types. Condo transactions increased despite lower inventory, while single-family sales remained nearly unchanged even as average prices moved higher. Vacant land saw more transactions within its primary category, while farm and ranch remained limited in volume and highly property-specific.

Condominium activity increased during the third quarter, with 62 sales compared with 50 in Q3 2025, a 24% increase. Active inventory declined 12% to 135 units, while new listings remained nearly unchanged at 62. Average sale price also changed little, increasing 1% to approximately $1.30 million. With more transactions at similar average pricing, total sales volume increased 25% to $80.4 million. Condos sold at an average of 98% of list price compared with 95% last year. Overall, Q3 brought more condo transactions and less available inventory, while average pricing across the broader category remained relatively consistent year over year.

Single-family sales were nearly unchanged year over year, with 82 homes sold compared with 83 during Q3 2025. Active inventory was also essentially unchanged at 331 listings, while new listings held steady at 145. Average sale price increased 25% to $2.54 million, contributing to a 24% increase in total sales volume to $208.3 million. Properties under contract declined 14%, from 102 to 87, and homes sold at an average of 95% of list price compared with 96% last year. Overall, transaction counts and inventory remained consistent, while higher-priced sales influenced the quarter’s average price and dollar volume.

Vacant land presented a mixed picture in Q3, with results varying considerably across locations and property types. Within the report’s primary unclassified land category, active inventory increased 13% to 107 listings, while new listings declined 25% to 30. Sales increased from 10 to 17, bringing total sales volume to nearly $10 million compared with $4.2 million last year. Average sale price increased 38% to approximately $587,000, while properties sold at an average of 96% of list price. These figures show increased transaction activity within the category, although individual sales and property characteristics can have an outsized effect on quarterly averages.

Farm and ranch remained a small segment of the overall market during Q3, making year-over-year percentages particularly sensitive to individual transactions. Within the report’s single-family farm and ranch category, active inventory increased from 15 to 18 properties and new listings increased from three to six. One property sold during the quarter, the same number as Q3 2025, while properties under contract declined from three to two. This year’s sale was $1.515 million compared with $1.2 million last year. With transaction volume this limited, acreage, water rights, improvements, location and land use provide more context than percentage changes alone.

Q3 offered different signals depending on the segment. Condo transaction counts increased, single-family activity remained similar to last year while average pricing moved higher, and land activity varied by category and location. Farm and ranch remained a low-volume market where individual properties can significantly influence quarterly statistics and year-over-year comparisons.