New Listings were down 16.3 percent for single family homes and 17.7 percent for townhouse-condo properties. Under Contracts decreased 2.2 percent for single family homes and 10.3 percent for townhouse-condo properties.
The Median Sales Price was down 5.2 percent to $580,000 for single family homes but increased 1.0 percent to $414,000 for townhouse-condo properties. Days on Market increased 183.3 percent for single family homes and 193.8 percent for townhouse-condo properties.
With buyer demand down from peak levels, home price growth has continued to slow nationwide, although prices remain up from a year ago. Sellers have been increasingly cutting prices and offering sales incentives in an attempt to attract buyers, who have continued to struggle with affordability challenges this winter. The slight decline in mortgage rates earlier this year convinced some buyers to come off the sidelines, but with rates ticking up again in recent weeks, buyers are once again pulling back, causing sales activity to remain down heading into spring.
Source: https://www.dmarealtors.com/