Bright MLS Weekly Market Report

Bright MLS Real Estate

Week Ending February 25, 2024 
Washington, D.C. Metro 

Summary 

  • New listings up for the fourth week in a row. For the week ending February 25, there were 4,866 new listings in the Bright MLS service area, up 6.9% from last year at this time. This is the fourth consecutive week where new listings have exceeded numbers from the same period last year. This is a good sign for inventory as listing activity continues trending above last year. 
  • Time to contract breaks the downward trend. After six weeks of declines in the median time to contract, homes are taking one day longer to sell than they did a week ago. While the downward trend has halted, the median time to contract is still two days faster than the same week last year. 
  • Mid-Atlantic median list price returns under $400k. Compared to the same week last year, the median list price in the Bright MLS service area dropped by 2.5% from the previous week. However, the median list price is still higher than it was last year, up 5.3% across the region. 

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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