Ryan Serhant Says It’s “Nobody’s Market.” Here’s What That Means in Ozaukee County

Buying a home hasn’t felt simple lately.

Mortgage rates are higher than most buyers want. Prices don’t feel like they’re easing much. And depending on the headline you read, the market is either “cooling,” “rebounding,” or “about to change again.” It’s no wonder so many buyers and sellers are pausing, waiting for clarity before making a move.

Recently, mortgage rates have dipped into the low 6% range, and buyer activity has picked up. That’s encouraging. The bigger question is what that actually means for your plans locally.

Ryan Serhant, star of Netflix’s Owning Manhattan, recently summed it up well during an interview on FOX Business.

As he put it:

“This isn’t a buyer’s market or a seller’s market. It’s nobody’s market because no one knows what to do.”

If you’re thinking about making a move, that perspective matters.

Local Market Snapshot — Ozaukee County

Here’s what we’re seeing right now:

  • Median home price: approximately $475,000

  • Active listings: just over 400 homes currently on the market

What this tells us: prices have remained resilient, inventory is still relatively tight, and well-priced homes are continuing to move—just not with the same urgency buyers saw a few years ago. That balance is what’s creating both opportunity and hesitation.

What You Should Know About Mortgage Rates

Buyers feel uncertain about affordability. Sellers are nervous about their next move. Everyone is waiting for someone else to act first.

While rates have come down from their peak earlier this year, most forecasts suggest they’ll stay close to where they are now—hovering in the low 6s. If you’re waiting for a major drop, that may not happen.

Serhant clarified it this way:

“The new normal is not low rates. I think people are confused that we’re entering a new normal where we’re going to have lower rates. It’s not going to happen.”

That doesn’t mean buyers are stuck. It just means strategy matters more than timing.

Getting Creative Can Help You Win

Rather than waiting on rates, today’s market rewards thoughtful planning.

Serhant shared a real example:

“I was talking to a client who would never do an adjustable-rate mortgage, who now is because they can get it just over 5%. And they’re probably not going to be in the house for five years anyway. And it makes sense for that monthly budget.”

Exploring all available options—and matching them to how long you plan to stay—can open doors that don’t show up in headlines.

Tools buyers are using successfully right now include:

  • Adjustable-rate mortgages aligned with shorter timelines

  • Temporary rate buy-downs to lower monthly payments

  • Seller credits to reduce upfront costs

  • Expanding searches to include overlooked opportunities

There are more paths forward than many buyers realize.

Finding the Right Opportunity

If you’re waiting for the “perfect” moment, the risk is waiting for something that never arrives.

As Serhant put it:

“Affordability is definitely a crisis, but if you’re paying a lot in rent and you want to build equity, now’s as good a time as any.”

This may be a “nobody’s market” nationally—but with the right local strategy, it can absolutely become your market.

jennifer Sloan