Bright MLS Weekly Market Report

Bright MLS Real Estate

Week Ending June 2, 2024 
Washington, D.C. Metro 

Summary 

  • New listings are up compared to a year ago. There were 5,902 new listings in the Mid-Atlantic for the week ending June 2, which is the week that includes Memorial Day. This week usually sees a dip in new listings, but listing activity was up compared to the same week in 2023. 
  • Homes are staying on the market longer. The median time to contract is slower by one day this week in the Bright MLS service area, rising to 19 days. With the exception of the Maryland/West Virginia Panhandle, the median time to contract increased compared to a week ago in all regions of the Bright MLS service area. 
  • List prices fall in some regions. In the Mid-Atlantic region, the median list price has seen a slight increase, reaching $430,000. The overall median list price is up 1.2% from the previous week and a 6.2% jump compared to last year. Despite the overall increase in the Bright MLS service area, a few metro areas such as Washington, D.C., Central Pennsylvania, and the MD/WV Panhandle have experienced a dip in their list prices over the past week. The median list price in the Washington D.C. metro is also down compared to the same week a year ago. 

About Bright MLS

Bright is proud to be the source of truth for comprehensive real estate data in the Mid-Atlantic, with market intelligence currently covering six states (Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia) and the District of Columbia. Bright MLS’s innovative tool library—both created and curated—provides services and award-winning support to well over 100k real estate professionals, enabling their delivery on the promise of home to over half a million home buyers and sellers monthly. In 2022, Bright subscribers facilitated $121B in real estate transactions through the company’s platform.

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