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...
real estate market update
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...
Highlights for the week ending May 21, 2023 The number of new listings in the Bright MLS footprint has been gradually increasing, although at a slower pace. Compared to previous years, there is a noticeable decrease in the number of new listings. For the week ending May 21, 2023, new listings are 24.0% lower than the same period last year. Despite the absence of the usual spring surge in listings, there...