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Home contracts across region see strong increase over past week

Median listing price takes a dive after strong bump up week before
Areas in various colors show the coverage area of Bright MLS, which tracks real estate across the Mid-Atlantic

Homes going to contract across the region for the week ending Sept. 17 saw a major bump up from a week before, but other market-performance data pointed to ongoing soft conditions.

The total number of purchase contracts reported regionally – 1,268 – was up 21.7 percent from a week before if still down 22.6 percent from a year ago, according to figures reported by Bright MLS.

That big week-over-week bump up came after a week-over-week decline the preceding week, so it may all be a matter of timing quirks.

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.

A total of 1,239 properties came to listing for the week, down 10.1 percent from a week before after a 25-percent increase the preceding week. The number of new listings is still down 18.9 percent from a year before.

The number of showings during the week was essentially flat from a week before at 20,322, but was down 21.5 percent from a year ago.

After the median listing price zoomed to $649,000 for the week ending Sept. 10, it came back down to earth to stand at $598,500 the week ending Sept. 17. That’s effectively flat 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