How does
Residential market look?
Market Highlights
The D.C. Metro residential market experienced a slowdown in buyer activity in October, with 12,879 active listings, a 0.1% increase from the previous week, indicating relatively stable inventory levels across the market.
The median list price stands at $569,000, down 9.0% from the previous week. Meanwhile, 9.5% of active listings have undergone price reductions, a 0.2 percentage-point decrease, suggesting that sellers continue to adjust their pricing strategies in response to market conditions.
Buyer activity softened during the week, with 13,406 showings, a 5.3% decrease from the previous week. Additionally, 849 new purchase contracts were recorded, representing a 0.4% decrease, while the median time to contract increased to 40 days, one day longer than the week before.
New listings totaled 1,151, an 8.5% decrease from the previous week, while canceled listings declined 9.2% to 168. Overall, the market is showing softer buyer activity and reduced new supply, while inventory remains relatively steady and pricing continues to adjust.
Market Outlook
The D.C. Metro residential market is showing signs of moderation, with declining showings and new purchase contracts indicating a more cautious pace of buyer activity. At the same time, relatively stable inventory provides buyers with continued options as the market moves further into the fall season.
Buyers may find greater opportunities for negotiation as properties take longer to secure contracts, while sellers face increasing pressure to price competitively and position their properties effectively. The decline in new listings suggests a slower pace of fresh inventory entering the market.
Overall, the market remains active but increasingly price-sensitive, with buyers taking a more measured approach and sellers adapting to shifting demand, longer marketing periods, and evolving pricing conditions.
