New listings were up slightly but other indicators were down across the region’s home-sales market for the week ending Oct. 8.
That’s according to Bright MLS, which reported that the 1,228 new listings represented an increase of 3.1 percent from the week before, albeit remaining 7 percent below the same period a year ago.
The weekly snapshot includes market activity in the District of Columbia; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery, Prince George’s and Frederick counties in Maryland.
Convincing homeowners to give up their attractive home mortgages obtained before rates spiked has proved to be a challenge in the local area, but the new data on listings provide at least some encouragement in that area.
Contracts signed during the week, however, were down, dropping 4.5 percent from a week before and 10.6 percent from a year before to 1,139. Showings dipped 0.8 percent and 11 percent, respectively, to 18,445 for the week.
The median listing price of $578,700 was effectively unchanged (up 0.6%) from a week before, but stood 5.2 percent higher than a year ago.
Figures represent most, but not all, homes on the market. Most recent figures are preliminary and are subject to revision.
For more data, see the Website at brightmls.com/marketupdate.
