As of November 2024, closed sales in the Washington, D.C. metro area have shown notable improvement, with a 7.7% increase compared to November 2023. This growth has helped shift the year-to-date sales trend into positive territory, up by 0.5%. The outlook for the market remains optimistic, bolstered by strong performance in new pending sales, which saw a significant 13.8% year-over-year...
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https://terringwanggroup.com/wp-content/uploads/2024/12/Dec-8-Market-Watch.mp4 As we approach the end of the year, the real estate market in the DC Metro area is showing continued signs of activity, with key indicators revealing mixed trends as buyers and sellers adjust to current conditions. New Listings: The number of new listings in the DC Metro area reached 836 this week, representing a 12.8%...
https://terringwanggroup.com/wp-content/uploads/2024/12/Dec-1-Market-Watch.mp4 As we approach the final weeks of 2024, the DC Metro real estate market continues to show signs of seasonal slowdown, with notable shifts in key metrics. The week ending December 1, 2024, presents a mixed picture for homebuyers and sellers alike, with decreases in new listings and purchase contracts, while median list prices...
https://terringwanggroup.com/wp-content/uploads/2024/11/NOV17-Market-Watch.mp4The Washington DC real estate market for the week ending November 17, 2024, shows steady activity with mixed trends. Buyer interest remains strong, as evidenced by a 26.3% increase in showings year-over-year and a 14.4% rise from the previous week. However, new purchase contracts have slightly slowed down, down 2.3% from the...
https://terringwanggroup.com/wp-content/uploads/2024/10/Market-Update-27Oct-1.mp4For the week ending October 27, the Mid-Atlantic region saw 5,783 new contracts. With improved affordability this fall, new contracts are up 13.2% compared to the same week in 2023, and are noticeably higher than levels from 2022 as well.There has been a substantial increase in showings for the second consecutive week,...
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...
For the week ending October 6, the median list price in the Bright MLS service area was $410,450, marking a 1.1% decline and continuing a trend of decreases for the fourth consecutive week. This drop is typical as we transition further into fall. However, despite this seasonal trend, the current median list price remains 2.9% higher than it was during the same...
Supply may be steadily increasing, but list prices continue to rise throughout most of the area. The median list price was $415,000 for the week ending September 1, which is 5.1% greater than the same week in 2023. Fewer sellers are dropping their asking price as we head into September, which suggests sellers still feel like they have the upper hand.There were 5,429 new listings in the area...
The Weekly Market Report provides an up-to-date listing and showing information to help you track market activity in real-time. These reports are posted to this page as they are released. Here are the highlights for the week ending May 14, 2023: Slow, persistent growth in contracts. New purchase contracts across the Bright MLS footprint rose 1.2% from last week. While bumpy from week to week, there...