The number of new contracts written during the week ending Aug. 27 – a total of 1,250 – was up 6.6 percent from the preceding week, according to data reported Aug. 28 by Bright MLS.
Don't get TOO excited: That figure remains down nearly 20 percent from a year before. But it does represent some forward momentum in a market that has seen light sales over the summer owing to affordability and availability issues.
Other data reported by Bright MLS wasn't quite as emphatic:
• The number of new listings coming to market for the week was 1,081, down 4.3 percent week-over-week and off 9.3 percent year-over-year.
• The number of showings for the week, totaling 18,651, also was down 4.3 percent week-over-week and was off 23.2 percent from last year this time.
The median listing price of homes that came to market for the week ending Aug. 27 was $574,900, up 2.9 percent from a week ago and an increase of 1.8 percent from a year before.
Figures include transactions 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.
Figures represent most, but not all, homes on the market. The most recent figures are preliminary and are subject to revision.
For more, see the Website at brightmls.com/marketupdate.