Lemmon Valley Housing Market: More Choice for Buyers, but Well-Priced Homes Still Move
The Lemmon Valley housing market in February 2026 looks more balanced than it did a year ago, but it is not soft. Buyers have more inventory and more room to compare homes, yet the best listings are still moving and can still command firm offers. Home prices are holding up unevenly: sellers are still aiming high in some cases, but buyers are pushing back when pricing looks stretched. Recent monthly movement largely supports that same story rather than changing it.
What changed vs last year
Active inventory rose to 20 homes from 14, and months of supply increased to 5.0 from 3.5. Buyers have more choice than they did last February, which makes this a less seller-friendly market and puts more pressure on listings to stand out.
Demand is still showing up. Pending sales climbed to 8 from 3, and closed sales doubled to 6 in December 2025 from 3 in December 2024, which helps explain why better listings are still finding buyers even with more supply on the market.
Median days on market fell to 47 from 69, but only 25% of homes went off market within two weeks, down from 100%. Homes are selling faster overall, yet buyers are clearly being more selective rather than rushing into everything.
The median listing price increased to about $559,000 from about $477,000, while listing price per square foot fell to about $261 from about $299. Sellers are still testing higher headline prices, but the lower price per square foot suggests pricing confidence is not broad-based.
The median home price rose to about $485,000 from about $472,000, and homes sold for about 101% of list price on average versus 99% a year ago. At the same time, price per square foot fell to about $285 from about $304 and only 0.5% of homes sold above list, showing buyers will still pay up for the right home, but not for everything.
What changed since last month
Inventory rose to 20 homes from 18, and months of supply increased to 5.0 from 3.0. Buyers are heading into spring with more options, which supports the shift toward a more balanced market.
Pending sales increased to 8 from 6 in the prior available month. Demand improved, but not enough to give sellers broad pricing power again.
Median days on market dropped to 47 from 68. That means buyers still need to move quickly on the listings that are priced well and show well.
Listing price per square foot fell sharply to about $261 from about $328. Sellers appear to be adjusting launch pricing more closely to what buyers will actually accept.
The share of homes going off market within two weeks slipped to 25% from 33%, while only 20% of listings had price drops. Buyers are not treating this like a rush market, but sellers also are not broadly cutting prices, which reinforces the split between homes that move and homes that stall.
What this means if you’re buying
Use the extra inventory to compare carefully, but do not assume every home will wait for you. In Lemmon Valley, buyers have more leverage than they did a year ago, especially on listings that have been sitting or look priced for a tighter market. But when a home is well-positioned, the faster selling pace shows it can still attract attention quickly.
Be most aggressive on value, not on every listing. If a home is priced in line with current conditions and fits what you need, acting quickly still makes sense. On homes with ambitious asking prices or weaker early traction, patience and negotiation are more likely to work in your favor.
What this means if you’re selling
Price your home for the market you have now, not the one sellers had last year. Lemmon Valley still supports solid outcomes for homes that launch well, but more supply means buyers can afford to be choosy. If your home is priced realistically and presented well, you can still do well without chasing the market down later.
Judge your listing by its early response. With only 25% of homes going off market within two weeks, weak activity out of the gate is a sign to reassess rather than wait. The market is still rewarding the best listings, but it is exposing wishful pricing much faster.
What to watch next
The key signal in the next monthly update is months of supply. Right now, Lemmon Valley has more inventory and a more balanced housing market, but home prices are still being supported when listings are priced well. If months of supply keeps rising, buyers should gain more negotiating room and sellers will need sharper pricing discipline. If it falls while homes continue to sell quickly, that would suggest the market is tightening again.