June continued the trend we’ve seen in recent months, low sales and inventory with higher prices than this time last year. Once again, the effects of the historically low interest rates over the past several years means that many potential sellers are staying put – even if they down-size they may7 end up not saving money with today’s interest rates. We had hoped for some interest rate cuts by now, but even with lower inflation last month, we aren’t optimistic fror a cut any time soon. Let’s hope we’re proved wrong.
However, demand remains strong as buyers wait for better rates and more inventory. In June, there was a total of 20,552 home sales across the Mid-Atlantic, which is down 10.4% compared to last June. Through the first six months of the year, the number of homes sales is 2.2% lower than the first six months of 2023.
A key reason for slower home sales activity is that some buyers have simply been priced out of the market. The median sold price in the mid-Atlantic in June was $430,000, which was a 5.4% increase over last year, and a new record for the Mid-Atlantic.
Check out your market below, and if you don’t see it listed, contact me and I’ll add it.
| Median Price | Change since last year % | Sales | Change since last year | Active Inventory | Change since last year | Days On Market | Change since last year | |
| Adams County PA | $366,250 | 22% | 88 | -22% | 187 | 23% | 33 | 22 |
| Alexandria VA | $749,498 | 6% | 184 | -27% | 208 | -9% | 18 | 6% |
| Arlington County VA | $807,500 | 22% | 207 | -26% | 309 | -7% | 19 | -14% |
| Baltimore City MD | $239,000 | 4% | 652 | -25% | 2025 | 0% | 34 | 0% |
| Baltimore County MD | $375,000 | 9% | 803 | -7% | 1009 | -11% | 17 | 13% |
| Berkeley County WV | $300,000 | 5% | 221 | -12% | 383 | -5% | 23 | -8% |
| Carroll County MD | $489,000 | 5% | 158 | -19% | 211 | -6% | 14 | 0% |
| Clarke County VA | $590,500 | 2% | 22 | 0% | 22 | -29% | 24 | 0% |
| Fairfax City VA | $725,000 | 7% | 30 | -19% | 26 | -26% | 11 | -15% |
| Fairfax County VA | $780,000 | 8% | 1194 | -10% | 1164 | -13% | 14 | 8% |
| Falls Church City VA | $1,130,000 | 21% | 11 | 10% | 36 | 119% | 8 | 60% |
| Fauquier County VA | $643,250 | 6% | 94 | 0% | 143 | -22% | 21 | -13% |
| Federick County VA | $421,000 | 1% | 149 | 6% | 421000 | 1% | 31 | 19% |
| Franklin County PA | $272,492 | 2% | 126 | -10% | 245 | 1% | 27 | 59% |
| Frederick County MD | $479,900 | 6% | 369 | -9% | 464 | 16% | 14 | 8% |
| Jefferson County WV | $409,990 | 4% | 107 | 20% | 156 | -10% | 31 | 55% |
| King George County VA | $484,500 | 13% | 40 | -11% | 58 | -28% | 32 | 3% |
| Loudoun County VA | $752,500 | 8% | 516 | -6% | 543 | -6% | 15 | -6% |
| Manassass City VA | $454,000 | -8% | 46 | -22% | 43 | -14% | 12 | 50% |
| Manassass Park City VA | $467,400 | -1% | 14 | 0% | 12 | -29% | 9 | 29% |
| Mineral County WV | $230,000 | 15% | 16 | -6% | 33 | -20% | 36 | -25% |
| Montgomery County MD | $650,000 | 3% | 958 | -9% | 1107 | 9% | 18 | 20% |
| Morgan County WV | $265,000 | -2% | 29 | 45% | 72 | 6% | 34 | -35% |
| Prince William County VA | $631,578 | 14% | 544 | -5% | 516 | -3% | 11 | -15% |
| Stafford County VA | $535,000 | 2% | 187 | -25% | 243 | -14% | 33 | 120% |
| Warren County VA | $385,750 | 3% | 50 | -9% | 127 | 30% | 32 | -3% |
| Washington County MD | $307,500 | -3% | 154 | -19% | 258 | -17% | 25 | 19% |
| Washington DC | $715,000 | 19% | 571 | -26% | 2435 | 15% | 35 | 13% |
| York County PA | $288,148 | 2% | 516 | -2% | 705 | -3% | 19 | 27% |
Read the press release about the mid-Atlantic on the Bright Multiple Listing Service website.
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GTU
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GTU