The median list price is $419,990 for the week ending October 13. Typically, the fall season experiences a trend of consecutive declines as the market begins to cool; however, this week saw a 2.1% increase from the previous week, resulting in list prices that are 6.6% higher compared to the same week in 2023. This uptick indicates a resurgence of buyers in the market, which has helped maintain elevated price levels for an extended period.
In the Mid-Atlantic region, there were 5,835 new purchase contracts this week, marking a 9.0% increase from the same week last year. As mortgage rates have stabilized in the latter half of this year and supply has gradually increased, contract activity has surpassed levels seen in both 2023 and 2022.
For the second consecutive week, new listings have outpaced figures from 2022 and 2023. With 5,529 new listings, this represents a 6.0% increase compared to the same week in 2023. While supply remains below levels typical of years like 2019, it has shown a positive trajectory throughout this year.
