Snapshot of Market Activity in the Greater Washington D.C. Area

Week Ending October 9, 2022

In the District of Columbia-

New homes for sale are down 24.8% compared to a year ago 

Closed sales are down 11.4% compared to a year ago

New contracts (homes pending or active under contract) are at 63.9% of the same week in October 2021

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In Maryland 

New homes for sale are down 25.6% compared to a year ago

Closed sales are down 25.1% compared to a year ago

New contracts (homes pending or active under contract) are at 63.1% of the same week in October 2021

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In Virginia

New homes for sale are down 28.8% compared to a year ago

Closed sales are down 28.5% compared to a year ago

New contracts (homes pending or active under contract) are at 56.2% of the same week in October 2021

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What does the housing market data indicate?

• It appears Sellers are assessing market conditions as we head into the winter housing market. 
• Homes for sale are typically going under contract within two weeks of going active
• Buyers are finding less competition for properties overall however, in some neighborhoods in the District, Maryland & Virginia, sellers are receiving multiple offers. 

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This market information is brought to you by Bright MLS and economist Lisa Sturtevant, PhD

For a complete analysis of market conditions from the week ending October 9th, 2022, click here. 

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How can we help?

The exclusive buyer agents at HomeBuyer Brokerage specialize in serving home buyers. Please reach out with questions at info@homebuyerbrokerage.com.