November 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?
Closed sales edge ahead for year after gain in November. The Washington, D.C. metro had 7.7% more closed sales in November 2024 than November 2023. This shifted the year-to-date trend positive, up 0.5%. Looking ahead, new pending sales had strong growth in November, increasing 13.8% year-over-year. Arlington County (-14.7%) and Prince George’s County (-0.8%) were the only two with fewer contracts last month compared to a year ago. Transactions have been supported through the year by additional new listings and a growth in supply. However, in November, new listings in the metro fell short of where they were in 2023, down 5.2%. Some counties, such as Arlington, Fairfax, and Loudoun, currently have fewer active listings at the end of November 2024 than last year. Overall active listings were 10.6% above November 2023, keeping the market tight and competitive.
