Washington D.C. Metro Housing Market: October 2024 vs. October 2023

Washington D.C. Metro Housing Market: October 2024 vs. October 2023
 

The Washington D.C. metro housing market in October 2024 has shown notable changes compared to last year. Here’s a look at five key areas with stats from Alexandria, Arlington, Fairfax, Loudoun, and Montgomery counties. Let’s dive into what’s trending in home sales, median prices, days on the market, inventory, and mortgage rates:

Alexandria City, VA

1. Closed Sales: Decreased by 6.1% from last year to 155 sales.
2. Median Sales Price: Dropped 10.7% to $625,000.
3. Median Days on Market: Increased by 3 days, now averaging 11 days.
4. New Pending Sales: Rose 7.6% with 155 new contracts signed.
5. New Listings: Slight 1.9% increase, totaling 159.

Arlington County, VA

1. Closed Sales: Up 17.4%, reaching 175 sales.
2. Median Sales Price: Fell 10.3% to $655,000.
3. Median Days on Market: Rose by 2 days to 11 days.
4. New Pending Sales: Increased 11.1%, totaling 190.
5. New Listings: Decreased by 18.8% to 182.

Fairfax City, VA

1. Closed Sales: Down by 11.5%, totaling 23 sales.
2. Median Sales Price: Rose 8.0% to $750,000.
3. Median Days on Market: Slight decrease of 1 day, now at 5 days.
4. New Pending Sales: Up 15.8%, reaching 22.
5. New Listings: Declined by 4.8%, totaling 20.

Fairfax County, VA

1. Closed Sales: Increased by 12.6% to 963.
2. Median Sales Price: Jumped 9.8%, reaching $725,000.
3. Median Days on Market: Held steady at 8 days.
4. New Pending Sales: Up 14.6%, reaching 966.
5. New Listings: Rose 3.8% to 878.

Falls Church City, VA

1. Closed Sales: Increased 22.2%, reaching 11 sales.
2. Median Sales Price: Significantly rose 27.1% to $1,375,000.
3. Median Days on Market: Decreased by 1 day, now averaging 8 days.
4. New Pending Sales: Declined by 10%, totaling 9.
5. New Listings: Doubled with a 100% increase, now at 14 listings.

Frederick County, MD

1. Closed Sales: Increased by 9.7%, totaling 295.
2. Median Sales Price: Rose 3.1% to $490,995.
3. Median Days on Market: Increased by 6 days to an average of 14 days.
4. New Pending Sales: Up 6.8%, totaling 283.
5. New Listings: Increased 11.3% to 335.

Loudoun County, VA

1. Closed Sales: Jumped 36.6%, reaching 463 sales.
2. Median Sales Price: Rose 9.0% to $725,000.
3. Median Days on Market: Increased by 2 days, averaging 9 days.
4. New Pending Sales: Increased by 28.3%, totaling 431.
5. New Listings: Slight 2.2% rise to 413.

Montgomery County, MD

1. Closed Sales: Increased 35.5%, totaling 862 sales.
2. Median Sales Price: Rose 8.5% to $618,585.
3. Median Days on Market: Increased by 2 days, averaging 10 days.
4. New Pending Sales: Increased by 14.7%, totaling 806.
5. New Listings: Up 11.6%, reaching 868.

Prince George's County, MD

1. Closed Sales: Increased by 11.1%, totaling 721.
2. Median Sales Price: Rose 3.7% to $440,750.
3. Median Days on Market: Increased by 3 days, now at 16 days.
4. New Pending Sales: Increased by 7.0%, reaching 775.
5. New Listings: Up 3.0% to 857.

Washington, D.C.

1. Closed Sales: Increased by 16.7%, totaling 539.
2. Median Sales Price: Declined by 2.7% to $660,000.
3. Median Days on Market: Increased by 4 days, now averaging 18 days.
4. New Pending Sales: Rose by 24.2%, reaching 667.
5. New Listings: Increased by 5.8%, totaling 943.

Ready to make your move? Whether you’re buying in an active market or selling while demand is strong, understanding local trends can help you maximize your success. If your area isn’t listed here but you'd like more information, reach out today! I’ll provide a personalized market analysis to guide you through the latest shifts in the D.C. metro housing market and help you time your next steps perfectly.