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Declining home-listing prices in region typical of summer

Region's median listing price of about $580,000 dropped 6.5% week-over-week

After living through several years of abnormalcy, it’s good to have normalcy where you can find it.

And the Washington region’s real-estate market does seem to be playing out in sync with historic norms now that spring has given way to summer.

The region’s median listing price of $579,999 for the week ending June 30 was down 6.5 percent from the week before, typical as the market moves into the Independence Day holiday period.

(While down week-over-week, the median listing price was up 3.1% year-over-year according to Bright MLS, the region’s multiple-listing service and purveyor of such data.)

While the regional median price was down, a number of localities, including Arlington, saw increases.

If typical cyclical norms play out, the median listing price will bob up and down through early August, when it will tick up for a month and then begin its year-end decline. The cycle will begin anew in January or February 2025, as listing prices start moving upward toward an expected peak in mid-spring.

Figures represent most, but not all, homes on the market. Most recent figures are preliminary and subject to revision.