The D.C. metro area’s real-estate market showed strength the first week of January compared to the holiday period that immediately preceded it, but in a number of metrics remains below the level of activity a year before.
A total of 683 properties across the region went to contract on their way to eventual sale for the week ending Jan. 7, according to figures reported by Bright MLS, the region’s multiple-listing service.
That’s up 23.9 percent from a week before (which was prime holiday season and therefore saw little market activity) but down 15.5 percent from the first week of January 2023.
The same trajectory was largely true for:
• New listings, which at 797 were up a whopping 143 percent from a week before but still down 6.9 percent from a year before.
• Showings, which at 15,839 were up 76.1 percent from a week before but down 25.1 percent from a year ago.
The median listing price of homes coming onto the market the first week of January of $570,000 across the region was up 2.7 percent from a week before and up 3.7 percent 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.
Homes that went to contract during the week had spent a median 35 days between listing and ratified sales contract, up four days from the week before but down four from a year ago.
In a typical year, listings and sales contracts will start growing until they reach a springtime crescendo, with showings peaking in March and April, contracts cresting in April and consummated sales following suit in May and June.
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.
