It’s a doldrums-of-summer thing: The median listing price of a home across the Washington region for the week ending July 28 remained just below the $600,000 mark.
The $599,000 figure was down 0.2 percent from a week before but up 4.2 percent from a year ago, according to Bright MLS, the region’s multiple-listing service. And it is about $50,000 lower than the all-time weekly peak, set in May.
The median listing price represents market conditions in the District of Columbia; Arlington, Fairfax and Loudoun counties and the cities of Alexandria, Fairfax and Falls Church in Virginia; and Montgomery, Prince George’s and Frederick counties in Maryland.
Average listing and sales prices often trend down in the heat of summer, as typically there are fewer prospetive purchasers in the market. For the week, there was a total of 17,449 home-showings across the region – off 15.6 percent from a week before and down 19.1 percent from a year prior.
In terms of contracts consummated for the week, the total was 1,305. That’s down 9.4 percent from a week before and off 1.7 percent from a year ago.
Figures represent most, but not all, homes on the market. All current figures are preliminary and subject to revision. See the full data at brightmls.com/marketupdate.