Here are the highlights for the week ending June 16, 2024:
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- Price decreases on the rise. Of all active listings in the Mid-Atlantic for the week ending June 16, 8.9% of the listings had a price decrease. There are more price decreases this year than in 2023 for all metros, likely an effect of slightly better supply along with weakening demand seen in 2024.
- New listings further add to supply. There were 6,176 new listings in the Bright MLS service area this week and they declined 4.4% from last week. Listing activity typically lessens following a spring peak, and further week-over-week decreases could continue. However, new listings remain 10.9% above their level the same week last year, boosting supply for Mid-Atlantic buyers.
- Active listings continue the rise over 2023. As active listings for this week hit 32,580, active listings are now 21.3% higher than they were the same week last year. All metros have better active inventory now than the same week in 2023, and the year-over-year increase continues to widen.
