Washington Metro Housing in October: New Contracts Down 20.4%, Inventory Up 22.1%, Median Price $625,000
Bright MLS reported on November 10 that the Washington metro housing market cooled markedly in October: new pending contracts fell 20.4 percent from a year earlier, while active inventory rose 22.1 percent, continuing a shift in leverage toward buyers.
The metro-wide median sold price was $625,000 in October, down 0.8 percent year over year. Rising inventory alongside falling contract activity means listings are accumulating faster than they are selling, lengthening time on market and narrowing sellers' pricing power.
Bright MLS is the largest multiple listing service in the Mid-Atlantic, and its monthly report covers the District of Columbia and its Maryland and Virginia suburbs. By its measures, the metro market is moving from a seller's market toward balance, with price growth flattening.
(Source: Bright MLS)
Source: Bright MLS
Published by GSM · USA (original Chinese edition)
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