The number of homes going to contract in the Washington region for the week ending Oct. 22 saw a big week-over-week increase after nearly a month of moribund activity, according to new data.
But the 1,141 contracts – though up 7.8 percent from the week ending Oct. 15 – still represented a decline of 9.2 percent from a year before, according to figures reported Oct. 25 by Bright MLS.
Homes that went to closing spent a median 20 days between listing and ratified contract, down a day from a week before but up nearly a week from a year before.
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.
New listings, too, also were higher week-over-week, rising 1.1 percent to 1,124 even if they were down 7.3 percent from a year before.
The number of showings? That was down in both categories, with the 17,702 recorded for the week ending Oct. 22 down 2.5 percent from the week before and off 9.9 percent from a year ago.
As for median list prices, the $574,900 recorded for the week was off from the all-time high of $650,000 set one (unusually high) week in September, but still was up 0.9 percent for the week and up 1.8 percent from a year ago to stand at the highest point for that week in the survey’s history.
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.
