The median list price for homes that went to market across the Washington region for the week ending Aug. 18 rebounded from a week before, which had posted the lowest figure so far in 2024.
The median listing price regionally of $585,000 was up 3.5 percent from the week before and 4.5 percent from a year ago, according to figures reported by Bright MLS, the region’s multiple-listing service.
Lower listing prices tend to be the norm during the dog days of summer; the median also can be impacted by the mix of properties that come to market in a given week. And they can be affected by how aggressive property owners and their agents wish to be.
In the GazetteLeader coverage area:
• The median listing price in Arlington for the week was $612,000, down from $741,000 a week before and $725,000 a year ago. (Being a smaller market, Arlington can be more significantly impacted by the mix of single-family homes, attached homes and condominiums at any given time.)
• The median listing price in Fairfax County for the week was $750,000, up from $699,450 a week before and $699,900 a year before.
Figures for the Washington region include market activity in the District of Columbia; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and the counties Montgomery, Prince George’s and Frederick in Virginia.
The all-time high for the region came this past spring, when for several weeks the median listing price hovered around $650,000. Over the 2023 holiday period between Thanksgiving and Christmas, the market bottomed out with a median listing price of about $500,000 before rebounding quickly.
Sales represent most, but not all, homes on the market. Most recent figures are preliminary and subject to revision.
