The Washington, DC real estate market for the week ending 2 March 2025 showed a mix of trends. There were 1,505 new listings, reflecting a +13.5% increase compared to the previous week and a +11.7% increase compared to the same week last year, indicating a steady influx of properties entering the market. The median list price rose to $678,900, up +10.3% from last week and +7.8% from last year, highlighting ongoing upward pressure on home prices. However, new purchase contracts saw a decline of -8.3% week-over-week, with 1,134 contracts, although this was still a +4.7% increase compared to the same period last year, suggesting a slight slowdown in buyer activity in recent weeks.
The median time to contract increased to 22 days, which is +3 days longer than last week but unchanged from the same time last year, indicating a slightly slower pace in the market. Active listings surged to 6,245, a +25.7% jump from last week and a +6.0% rise compared to the previous year, providing buyers with more options. Showings decreased by -14.3% compared to the previous week, though they were down just -0.6% compared to last year, potentially due to the drop in new purchase contracts.
Additionally, the number of canceled listings was 95, up +18.8% from last week but down -6.9% from the previous year, suggesting some sellers may be reevaluating their listing decisions.Finally, 8.0% of active listings saw a price decrease, an increase of +1.6 percentage points compared to last week and +0.3 percentage points compared to last year, reflecting a market where sellers are adjusting their price expectations. Overall, while the market remains strong compared to last year, there are signs of a slight cooling in buyer activity, with more listings and price adjustments indicating shifting dynamics as we head into the spring season.
