Home-sellers emerged from a summer hibernation in the week ending Sept. 10, not only putting an increased number of homes on the market, but being aggressive almost to the point of friskiness in the prices they were asking.
The median listing price of $649,000 for the week was up 12.9 percent from a week before and up 8.3 percent from a year ago, according to data reported Sept. 11 by BrightMLS.
The week-over-week spike to a new record weekly high was one of the largest recorded in recent years, and represents the first time since late spring the median listing price has been substantially above $600,000.
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.
The market, which had been in something of a summer stupor through Labor Day, rebounded with 1,378 new listings for the week ending Sept. 10. That’s up 25.7 percent from a week before, albeit down 17.9 percent from a year ago.
Those properties coming to market will take a while to find buyers, and the number of contracts written across the region last week (1,042) was down 7.6 percent from a week ago and off 21.4 percent from a year before.
Showings, however, were up week-over-week, rising 19.2 percent to 19,116 and suggesting that buyers, too, are getting ready to make the autumn market a robust one.
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.