Market in a Minute & StatPak January 2025
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 December 2024 was down 8.5% from December 2023 and was down in three out of six price categories. For the full year, contract activity is down 3.1%. The average number of days on the market for homes receiving contracts was 87 days in December 2024, up from 77 days in December 2023.
Contract activity in December 2024 was up 7.4% from December 2023 and was up in three out of six price categories. For the full year, contract activity is up 4.8%. The average number of days on the market for homes receiving contracts was 44 days in December 2024, up from 36 days last December.
Contract activity in December 2024 was down 2.1% from December 2023 and was up for three out of five price categories. For the full year, contract activity is up 2.3%. The average number of days on the market for homes receiving contracts was 43 days in December 2024, up from 41 days in December 2023.
Contract activity in December 2024 was up 4.9% from December 2023 and was up for four price categories. For the full year, contract activity is up 2.2%. The average number of days on the market for homes receiving contracts was 42 days in December 2024, up from 37 days last December.
Contract activity in December 2024 was up 7.0% from last December and was up for three price categories. For the full year, contract activity is up 6.8%. The average number of days on the market for homes receiving contracts was 31 days in December 2024, down from 38 days last December.
Contract activity in December 2024 was up 22.2% from last December and was up for five price categories. For the full year, contract activity is up 13.3%. That’s the best in the region. The average number of days on the market for homes receiving contracts was 55 days in December 2024, down from 57 days last December.
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