DC Metro had a median list price of $419,990 for the week ending October 13. The fall season usually sees consecutive declines as the market cools for the year, but there was a 2.1% increase from last week, bumping list prices 6.6% higher than the same week in 2023. Many buyers have returned to the market, keeping prices elevated for longer.
There were 5,835 new purchase contracts in the Mid-Atlantic this week, a 9.0% increase from this week last year. With mortgage rates settling in the latter half of this year and supply steadily increasing, contracts have picked back up above both 2023 and 2022 levels.
For the second week in a row, new listings have exceeded 2022 and 2023 levels. At 5,529 new listings, there are 6.0% more than there were in the same week in 2023. Supply is still much lower than regular years, like 2019, but supply has still been on a healthy trajectory for all of this year.
