Market in a Minute & StatPak October 2024
We profile the most important market indicators every month - contract activity, interest rates, inventory, affordability, and direction of the market - in an easy-to-read and digest summary. It's not just the numbers; it provides context to understand why the numbers are important and what they mean for the future of the market. Published for Washington, DC, Montgomery County, Prince George's County, Northern Virginia, Loudoun County, and the Virginia Countryside. A quick summary of last month's contract activity is shown below. To see the complete "Market in a Minute" reports for each jurisdiction we cover, click on the corresponding links.
What's the Urgency Index?
This is simply the measure of the percentage of homes going under contract that were on the market 30 days or less, giving a sense of how quickly buyers feel they must act to put an offer on a home. To see your market's Urgency Index click the link to view the full report.
Contract activity in September 2024 was up 5.6% from September 2023 and was up in five out of six price categories. Through the first nine months of the year, contract activity is down 12.5%. The average number of days on the market for homes receiving contracts was 61 days in September 2024, up from 50 days in September 2023.
Contract activity in September 2024 was up 16.2% from September 2023 and was up in five out of six price categories. Through the first nine months of the year, contract activity is up 2.9%. The average number of days on the market for homes receiving contracts was 25 days in September 2024, up from 21 days last September.
Contract activity in September 2024 was up 17.3% from September 2023 and was up for four out of five price categories. Through the first nine months of the year, contract activity is up 2.6%. The average number of days on the market for homes receiving contracts was 39 days in September 2024, up from 28 days in September 2023.
Contract activity in September 2024 was up 13.3% from September 2023 and was up for five price categories. Through the first nine months of the year, contract activity is basically unchanged. The average number of days on the market for homes receiving contracts was 25 days in September 2024, up from 24 days last September.
Contract activity in September 2024 was up 32.8% from last September and was up for four price categories. Through the first nine months of the year, contract activity is up 3.3%. The average number of days on the market for homes receiving contracts was 24 days in September 2024, up from 21 days last September.
Contract activity in September 2024 was up 25.3% from last September and was up for five price categories. Through the first nine months of the year, contract activity is up 11.5%. That’s the best in the region by far. The average number of days on the market for homes receiving contracts was 40 days in September 2024, up from 32 days last September.
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