Prospective home-buyers may still have been at the beach in mid-August, but those seeking to sell homes in the fall market across the region are starting to stir – at least in some localities.
The 1,199 homes listed for sale across the D.C. area for the week ending Aug. 18 represented an increase of 3.1 percent from the preceding week and an increase of 6.2 percent from the same period a year before. That’s according to weekly data reported by Bright MLS, the region’s multiple-listing service.
Fairfax County homeowners helped to lead the pack, with 270 transactions coming to market during the reporting period, up from 214 a week before and 246 a year ago.
In Arlington, however, the trajectory was flat – the 44 homes coming to market the week ending Aug. 18 represented a modest decline from 46 a week before and were off from 51 a year ago.
On the buyer side, the 16,628 home showings across the region for the week marked a decline of 10.2 percent from a week before and 14.7 percent from a year ago. Showings were down week-over-week and year-over-year in both Arlington and Fairfax counties.
Figures for the Washington region include market activity in the District of Columbia; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and the counties Montgomery, Prince George’s and Frederick in Virginia.
Sales represent most, but not all, homes on the market. Most recent figures are preliminary and subject to revision.
Median List Price Rebounds After Hitting Valley: The median list price for homes that went to market across the Washington region for the week ending Aug. 18 rebounded from a week before, which had posted the lowest figure so far in 2024.
The median listing price regionally of $585,000 was up 3.5 percent from the week before and 4.5 percent from a year ago, according to figures reported by Bright MLS, the region’s multiple-listing service.
Lower listing prices tend to be the norm during the dog days of summer; the median also can be impacted by the mix of properties that come to market in a given week. And they can be affected by how aggressive property owners and their agents wish to be.
In the GazetteLeader coverage area:
• The median listing price in Arlington for the week was $612,000, down from $741,000 a week before and $725,000 a year ago. (Being a smaller market, Arlington can be more significantly impacted by the mix of single-family homes, attached homes and condominiums at any given time.)
• The median listing price in Fairfax County for the week was $750,000, up from $699,450 a week before and $699,900 a year before.
Figures for the Washington region include market activity in the District of Columbia; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and the counties Montgomery, Prince George’s and Frederick in Virginia.
The all-time high for the region came this past spring, when for several weeks the median listing price hovered around $650,000. Over the 2023 holiday period between Thanksgiving and Christmas, the market bottomed out with a median listing price of about $500,000 before rebounding quickly.
Sales represent most, but not all, homes on the market. Most recent figures are preliminary and subject to revision.
