Published September 30, 2026 in Market Update

This market is still moving fast despite 7% mortgage rates

By Debra Hayne

Real estate, Primary market

Freddie Mac reported that the 30-year fixed rate averaged 7.03% as of September 24, 2026. That is the first reading above 7% since January 2025, according to Realtor.com. Higher borrowing costs are real. But if you own a home here, the local picture is a lot more interesting than the national headline.

These numbers cover the three months ending July 31, 2026. They are real counts of homes sold, listed and pending across this market, from the Real Estate Data Aggregator.

There are very few homes to choose from

The National Association of Realtors put the national supply of existing homes at 4.9 months as of August 2026. That is the highest level in over ten years. This market looks nothing like that.

ZIP 17214 had just 0.4 months of supply, the tightest in the market. ZIP 21046 had 1 month. Even the loosest areas, 21211 at 2.4 months and 21702 at 2.3 months, are still far below what the National Association of Realtors calls a balanced market.

Homes are still selling above asking price

When supply is this low, buyers still compete. The Real Estate Data Aggregator counted homes selling above list price across the board.

In ZIP 21042, homes sold for an average of 103.1% of list price, the highest in this market, according to the Real Estate Data Aggregator. ZIP 21784 came in at 101.8% and ZIP 21211 at 102.2%. Even the softest areas, 21701 at 99.7% and 21702 at 99.6%, landed right at list price.

Most homes go under contract within two weeks

Speed is another sign of how tight this market really is. The Real Estate Data Aggregator tracked how many homes went under contract within two weeks of listing.

ZIP 21042 had the shortest median time on market at 14 days, per the Real Estate Data Aggregator. ZIP 17331 was close behind at 12 days. On the slower end, ZIP 21702 sat at 43 days and ZIP 21701 at 36 days. Not every home sold fast, but most did.

Prices: a mixed picture depending on where you are

Some prices rose, some dipped a little. The direction depended on the ZIP code, not the mortgage rate.

ZIP 21158 led the market with a 17.5% price gain year over year, per the Real Estate Data Aggregator. ZIP 21043 was up 13.5%. ZIP 21133 saw the steepest dip at down 9.4%. A few ZIPs slipped a little, but most held steady or gained.

What this means if you own a home here

Freddie Mac's 7.03% rate is real, and buyers feel it. But low supply is doing a lot of the work for sellers. When buyers have fewer choices, well-priced homes still move.

Realtor.com reported the typical U.S. listing sat on the market for 61 days as of the week ending September 19, 2026. Most ZIP codes in this market were well below that.

That last part matters. The numbers above cover whole ZIP codes. Your street, your price range and your home's condition can tell a different story. If you want to know where your home sits inside these numbers, I'm happy to take a closer look.