March 2024 Monthly Housing Market Trends Report for Arlington, VA, Washington DC and Montgomery County. This is our monthly update and insights based on year over year numbers on these three markets. What do the numbers mean to you? How can they be translated to your current needs when buying or selling?
Median home price at near record high despite more inventory on the market. Active listings at the end of the month were 4.0% higher than last year across the Washington, D.C. metro; however, not all buyers have more choices, specifically those looking in Alexandria City, Arlington County or Fairfax County, VA. New listings declined 11.4% year-over-year in the Washington, D.C. metro, though new pending sales were down by a smaller percentage. New listings outpaced new pending sales in March, which is what led to growing month-end inventory. Despite the inventory increase, the median sold price was $599,990, up by 10.1% in March, the fastest pace of home price growth since February 2022. Homes continue to sell quickly in the competitive Washington, D.C. metro area market. Half of all homes sold in March were on the market a week or less.
