Bright MLS Weekly Market Report

Bright MLS Real Estate

Week Ending June 30, 2024 
Washington, D.C. Metro 

Summary 

  • Inventory healthier than last year. The Bright MLS service area had 33,555 active listings for this week, a 27.1% increase from the same week last year. All metro areas have experienced inventory growth over 2023, but inventory is still low by historical standards. 
  • Contract activity above 2023. There were 6,672 new purchase contracts the week ending June 30 in the Mid-Atlantic. For the last three weeks, the number of new purchase contracts has exceeded the same week in 2023, this week by 3.2%. Contract activity has been growing, but low affordability is going to keep some prospective homebuyers on the sidelines. 
  • Prices easing into July 4th week. As seen historically, prices have dipped week-over-week into the week of the July 4th holiday. Landing at $415,000, prices have decreased from last week by 2.4% but remain elevated, up 6.4% from the same week last year. Prices should continue to ease week-over-week as we head into the latter half of the year. en. 

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.

Learn more at BrightMLS.com

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