A Very Positive Week for Virginia and DC

Contract activity for May 25 - 31 , 2025 in the Metro DC area was up 4.6% compared to the same seven-day period last year.

Key Takeaways

• Four of the six jurisdictions we track posted increases – the three in Virginia plus Washington, DC – while the two in Suburban both saw decreases.
• There was a little calendar-assisted bump in these numbers, because this same week last year included the entire Memorial Day Weekend; this year’s number only had two of the three day holiday.
• And continuing a trend we have seen most of this year, homes took about a week longer on average to sell – 30.4 days last week vs 25.6 last year.

Why It Matters

• The market is neither hot nor cold – it’s . . . tepid.
• Yer-to-date, total new contract activity is down just 2.6%, and given the enormous economic uncertainty that exists in the greater DC area and mortgage rates that are still hovering near 7%, that’s actually pretty good.
• And geography and price range continue to play big roles in these numbers. New contract activity in Prince George’s County, with the lowest average sales price in the region, is down 10.6% year-to-date, while Loudoun County, with the highest average sales price, is up 3.2% year-to-date. First-time homes buyers have it pretty rough, while move-up buyers have equity to bring to the table.