Weekly Meter
DC / MD / VA / WV
We compare contract activity for the same seven-day period of the previous year in Loudoun County, Prince William County, Northern Virginia, Washington, DC, and Prince George's County. These statistics are updated on a weekly basis. Sign up for our newsletter on the latest market data.
The More Things Change . . . The More They Stay The Same
Contract activity for June 15 - 21, 2025, in the Metro DC area was essentially unchanged, down just 0.2% compared to the same seven-day period last year.
Key Takeaways
- New contract activity seems to be stuck in neutral, and neutral is OK. Three of the six jurisdictions posted increases and three saw decreases.
- We suspect the major storm activity late last week played a role in keeping a lid on contracts. Even though there was no real change from last year, there were 100 fewer newer contracts than the previous week.
- Mortgage interest rates are pretty stagnant as well. Last week, the average 30-year fixed rate was 6.81%, .06% lower than a year ago and .03% lower than the previous week
Why It Matters
- What has changed is available inventory. Buyers have roughly 40% more listings from which to choose compared to this time last year, and that has pushed the average time on the market up by almost 9 days. This week last year, homes going under contract were on the market for an average of 24.4 days; that has climbed to 33.3 days now.
- In general, the three Virginia jurisdictions are performing better than DC and suburban Maryland – but Prince George’s County did see a modest 2.2% increase in contracts last week.
A Very Positive Week!
Contract activity for June 15 - 21, 2025, in the Virginia Countryside and West Virginia Panhandle area was up 15.2% compared to the same seven-day period last year.
Key Takeaways
- The Virginia Countryside and West Virginia Panhandle markets both posted solid increases in new contract activity last week.
- These more rural markets continue to (modestly) outperform the more immediate metro DC area, with total new contract activity down just 1.8% compared to 2.1% in close-in areas.
- It is also encouraging that the average day on market for homes going under contract is holding steady compared to last year. That is not the case for the metro area, where days on market has risen by more than a week.
Why It Matters
- Mortgage interest rates are holding steady. Last week, the average 30-year fixed rate was 6.81%, .06% lower than a year ago and .03% lower than the previous week
- We do not expect to see any consequential movement in mortgage rates over the next couple of months – but we’re keeping a watchful eye on tensions in the Middle East. The conditions there could certainly impact that expectation.
The Real Estate Details
- Virginia Countryside was up 20.5%, and is up 2.3% year-to-date.
- West Virginia Panhandle was up 10.5% and is down 5.8% year-to-date.
PARTNERED AFFILIATES
Copyright © Corcoran 2023 – 2025. Corcoran and the Corcoran Logo are trademarks of Corcoran Group LLC. Corcoran Group LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated offices are not provided by, affiliated with, or related to Corcoran Group LLC nor any of its affiliated companies.
© Corcoran McEnearney 2025. All rights reserved. DO NOT SELL MY PERSONAL INFORMATION
PARTNERED AFFILIATES
Copyright © Corcoran 2023 – 2025. Corcoran and the Corcoran Logo are trademarks of Corcoran Group LLC. Corcoran Group LLC fully supports the principles of the Fair Housing Act and the Equal Opportunity Act. Each office is independently owned and operated. Any services or products provided by independently owned and operated offices are not provided by, affiliated with, or related to Corcoran Group LLC nor any of its affiliated companies.
© Corcoran McEnearney 2025. All rights reserved.
DO NOT SELL MY PERSONAL INFORMATION
