The Washington region’s real-estate market is beginning to show a little spring fever, with new listings, showings and contracts all up for the week ending Feb. 4 compared to the preceding week.
In terms of a year-over-year comparison, however, there is still some ground to make up.
Figures were reported by the Bright MLS multiple-listing service and analyzed by the GazetteLeader and include 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.
For the week, regional new listings totaled 1,077. That’s up 17.6 percent from a week before as the market starts to get the springtime vibe, and is even up (albeit just 0.8%) from the same week a year before.
New contracts for the week totaled 1,114, up 16.3 percent from a week before but down 11.3 percent from a year ago.
Showings, another key market indicator, totaled 21,033 for the week, up 7 percent from the week before but down 15.9 percent from a year ago.
With inventory still somewhat constrained, prospective sellers were happy to be somewhat aggressive. The median list price of $598,000 for all homes that came to market for the week was up 1.4 percent from a week before and up more slightly (0.5%) from a year ago.
For homes that went to contract during the week, it took a median 19 days from the time of listing to get there. That’s an improvement from 22 days for homes that found a suitor a week before, and from 24 days from 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.
