T
he national narrative on home sizes is shifting, with buyers increasingly prioritizing affordability and energy efficiency over expansive square footage. This trend is driven by a combination of economic pressures and evolving lifestyles, as many homebuyers seek innovative, flexible use of space rather than unnecessary excess.

    In Ashland, however, the real estate landscape presents a unique dynamic. While national statistics show a decline in new home sizes, our local market continues to see steady demand across various property sizes. The city's historic neighborhoods, diverse architecture, and high desirability make it an attractive destination for buyers, who are willing to pay a premium for homes that offer the perfect blend of function, location, and affordability.

    According to the National Association of Home Builders, the average square footage of new single-family homes has declined steadily over the past few years. Affordability concerns are playing a major role, as both material costs and financing rates have increased. As a result, more homebuyers are choosing compact, efficient floor plans that maximize functionality.

    In Ashland, the real estate market remains strong, but affordability is increasingly becoming a key factor in buyer decision-making. The combination of limited inventory, rising prices, and high interest rates has made it more difficult for some buyers to enter the market. However, the recent increase in active residential listings (up 21.2% from the previous year) is giving buyers more choices.

    The median home price in Ashland rose to $549,500, marking a 13.1% increase from the previous year. This data suggests that despite higher mortgage rates, our local market has steady buyer demand. For buyers, the increase in inventory means more opportunities to find a home that fits their needs, whether that means downsizing for efficiency or securing a larger home while inventory remains stable.

    As Ashland continues to attract buyers with its unique blend of historic charm, outdoor access, and strong sense of community, it will be interesting to see if the national trend of smaller homes takes hold here. One thing is certain: local buyers are looking for homes that balance function, location, and affordability. Staying informed about market shifts is essential for making the right real estate decisions, whether you're buying or selling.