Market in a Minute & StatPak June 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, and Loudoun County. 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.

Washington, DC

June 2025 StatPak – View Full Report

Contract activity in May 2025 was up 4.0% from May 2024 and was up in three out of six price categories. Through the first five months of the year, contract activity is down 3.2%. The average number of days on the market for homes receiving contracts was 55 days in May 2025, up from 49 days in May 2024.

Montgomery County

June 2025 StatPak – View Full Report

Contract activity in May 2025 was up 5.2% from May 2024 and was up in five price categories. Through the first five months of the year, contract activity is down 2.1%. The average number of days on the market for homes receiving contracts was 24 days in May 2025, up from 18 days last May.

Prince George’s County

June 2025 StatPak – View Full Report

Contract activity in May 2025 was down just 0.2% from May 2024 and was down for four out of five price categories. Through the first five months of the year, contract activity is down 10.2%. The average number of days on the market for homes receiving contracts was 38 days in May 2025, up from 29 days in May 2024.

Northern Virginia

June 2025 StatPak – View Full Report

Contract activity in May 2025 was up 9.9% from May 2024 and was up for five price categories. Through the first five months of the year, contract activity is down just 0.4%. The average number of days on the market for homes receiving contracts was 23 days in May 2025, up from 17 days last May.

Loudoun County

June 2025 StatPak – View Full Report

Contract activity in May 2025 was up just 0.8% from last May and was up for two price categories. Through the first five months of the year, contract activity is up 6.0%. The average number of days on the market for homes receiving contracts was 23 days in May 2025, up from 21 days last May.

Virginia Countyside

June 2025 StatPak – View Full Report

Contract activity in May 2025 was down just 0.4% from last May but was up for four price categories. Through the first five months of the year, contract activity is down 3.2%. The average number of days on the market for homes receiving contracts was 39 days in May 2025, up from 30 days last May.

Visit corcoranmce.com to search listings for sale in Washington, D.C., Maryland, Virginia, and West Virginia.

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June is for fresh starts, including home renovations.

As the days get longer and the weather warms up, June sparks a sense of renewal. It’s the perfect time to tackle projects that have been sitting on the back burner, especially when it comes to upgrading your living space. If you’re a Veteran or active-duty service member, there’s one option that might surprise you: the VA Renovation Loan. 

Whether you’re buying a new home that needs some work or looking to refresh the one you already own, this program could be the key to making it happen with little to no upfront cost.

What are the benefits of a VA Loan program?

The VA loan benefit is earned through military service and is one very advantageous way that military personnel can buy, build, or improve a home. A few reasons that VA loans are a great option for qualified buyers and current homeowners:

• No down payment as long as the sales price isn’t higher than the home’s appraised value (the value set for the home after an expert reviews the property).
• Better terms and interest rates than other loans from private banks, mortgage companies, or credit unions (also called lenders).
• The ability to borrow up to the Fannie Mae/Freddie Mac conforming loan limit on a no-down-payment loan in most areas—and more in some high-cost counties. You can borrow more than this amount if you want to make a down payment. Learn more about VA loan limits here.
• No need for private mortgage insurance (PMI) or mortgage insurance premiums (MIP).
• No penalty fee if you pay the loan off early.

What is the VA Renovation Loan?

The VA Renovation Loan lets eligible borrowers roll the cost of home improvements directly into their mortgage, without needing a second loan or draining their savings. It’s designed specifically for primary residences and offers up to 100% financing, making it one of the most accessible ways to upgrade a home.

For example, maybe you want to modernize your kitchen, replace outdated flooring, or add accessibility features to suit your needs. As long as the repairs are non-structural and can be completed within 75 days of loan funding, they may be covered.

What can you use it for?

Eligible renovations include everything from new appliances and updated HVAC systems to roof replacements, plumbing work, bathroom remodels, and more. The loan is flexible enough to support both cosmetic improvements and essential repairs. In short, if the work makes the home more livable, efficient, or functional, there’s a good chance it’s allowed.

Who can apply?

This program is available to active-duty service members, Veterans, Reservists, National Guard members, and certain surviving spouses. If you’ve served our country, this is one way your benefits can serve you—helping you build a better home with a smarter financial strategy.

Not a VA Borrower? You’ve still got options!

Even if you don’t qualify for the VA Renovation Loan, June is still a great time to explore other renovation financing options: 

• FHA 203(k) Loans – These are perfect for homebuyers or homeowners looking to finance repairs and upgrades. The “Standard” version allows for structural changes and phased construction, while the “Limited” version is ideal for smaller, cosmetic projects.
• Fannie Mae HomeStyle® Renovation – A conventional loan that covers a wide range of upgrades, including landscaping, green energy improvements, and accessory dwelling units (ADUs)
• Freddie Mac CHOICERenovation® – Similar to the HomeStyle loan, this option is designed for buyers who want to customize or modernize their home purchase while keeping everything under one convenient mortgage.

Why June is the ideal time to start?

With summer break in full swing and longer daylight hours, June offers the perfect window to start a renovation project—especially one that can be completed before fall routines pick back up. Contractors may be more available, and renovation financing can give you the boost you need without delaying your goals or draining your savings. 

If you’re thinking about buying a home that needs a little work or you’re ready to tackle that dream upgrade, this might be your moment. Ready to explore your options? Reach out today and take the first step toward making it happen.

Bill Stern | The Stern Team
Branch Manager | NMLS ID # 267577
CMG Home Loans | NMLS ID# 1820
M: 540-222-0164
bstern@cmghomeloans.com
Notice: This is an advertisement and is not a commitment to lend. Contact a loan officer today to explore the financing options specific to each borrower.

Visit corcoranmce.com to search listings for sale in Washington, D.C., Maryland, Virginia, and West Virginia.

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You don’t have to be a financial whiz to make smart moves in real estate investing.

Owning residential investment property in the Washington Metropolitan area provides multiple advantages: steady cash flow, solid appreciation, and a hedge against inflation. Rental properties, which command a high enough monthly rent to cover a mortgage payment, may be viewed similarly to a blue-chip stock where the monthly principal curtailment is akin to a regular dividend payment. And while a stock can theoretically lose all of its value, “dirt does not go to zero.”

For some, acquiring residential investment property is a function of converting an existing primary residence into one that brings cash flow. For others, the acquisition requires purchasing property and obtaining financing for that purchase. The good news is that underwriting guidelines for residential investment financing have loosened in recent years, and Fannie Mae and Freddie Mac investment property loans no longer require down payments of 20%. A purchaser may put down as little as 15% of the purchase price, making the acquisition more attainable for some. If the down payment is less than 20% then mortgage insurance is required, which increases the monthly payment. Interest rates are more favorable if the down payment is at least 20%, and even more so if the down payment is at least 25%. Note that investment property loans do not allow for the use of gift funds to cover down payment, closing costs or reserve requirements.

For most individuals, qualifying for an investment property loan from an income and debt standpoint has also become easier. Lenders will generally use 75% of the expected rental income to offset the proposed mortgage payment. For instance, if the proposed mortgage payment on an investment property purchase is $3000 per month and the anticipated rent as determined by the lender’s appraiser is also $3000 per month, in most cases, the lender will give the mortgage applicant credit for $2250 (75% of anticipated rent) to offset the new monthly payment. This results in a new debt for qualifying purposes of only $750 per month. Standard conforming conventional loans do not require a lease to be in place for the property to be purchased and borrowers do not need to show a history of managing rental property.

Investment property loans do require the borrower to show reserve assets in the form of savings, brokerage, or retirement assets. The guidelines differ somewhat between Fannie Mae and Freddie Mac loans; Fannie requires reserve assets calculated as a percentage of the unpaid balances on all real estate loans held by the borrower, while Freddie requires a certain number of months of principal, interest, taxes, insurance, and HOA/Condo dues (PITIA) for all financed property held by the borrower. Neither set of guidelines is too onerous as Fannie requires reserves to be as little as 2% of outstanding balances on all mortgages held and Freddie requires as little as 2 months of PITIA on all properties owned and encumbered by mortgages.

The borrower’s application process for investment property loans is identical to that for a loan to purchase a primary residence, and there is no significant additional time needed by the lender to complete the underwriting process. The lender’s appraisal of the property will include one additional component referred to as a comparable rent schedule, which is used to determine the likely gross monthly rental income of the property. Other than that, the overall lender process and documentation requirements of the borrower are no different than for other residential loan applications. A borrower can ratify a contract for an investment property purchase and proceed to settlement just as quickly as they could for the purchase of a primary residence.

Ownership of residential investment property does not require advanced financial education and financing the purchase of residential investment property is generally just as easy as financing a primary residence. 

Brian Bonnet, SVP, Sr. Loan Officer, NMLS ID 224811
Atlantic Coast Mortgage, NMLS ID 643114
O: 703-766-6702 | M: 703-304-0188
Email Me

Notice: This is an advertisement and is not a commitment to lend. Contact a loan officer today to explore the financing options specific to each borrower.

Visit corcoranmce.com to search listings for sale in Washington, D.C., Maryland, Virginia, and West Virginia.

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Across the country, sellers are consulting their calendars to land on just the right time to list their properties.

Just like the temperature, the spring real estate market is heating up in our region, and buyers are anxious to get in on the action. Limited inventory still favors sellers, but there are strong signs that more homes will continue to be added, allowing buyers a better chance of finding a home that meets their needs.

It’s not a secret that the spring market is the busiest of the real estate cycle, but unlike local declarations of the change in season – “the first pitch of Nationals baseball” or the “first blooms of the Tidal Basin’s cherry blossoms” – there’s no clear date that sellers can peg for “The Best Day” to list their home. Locally, the “spring market” is loosely defined by many agents as “between the Super Bowl and Memorial Day,” which is pretty broad. If you’re looking to move soon and you can be flexible about your listing strategy, here’s what to consider. ​​

Realtor.com’s annual “best time to sell” analysis identifies April 13-19 as the ideal new listing window based on seasonal trends in pricing, demand, and days on market (DOM) seen over the past seven years. But Zillow pushes their ideal date further out and predicts that, based on 2024 data, sellers who listed their home in the last two weeks of May netted an additional 1.6% on the sale, about $5,600 on the typical U.S. home.

Because all real estate is LOCAL, let’s take a look at the trends in our region, with the disclaimer that the best time to list your home is…when you need to move! Life changes can happen at any time, necessitating a move when you may least expect it. Factors like rising or falling interest rates (ex: higher interest rates are likely to keep would-be sellers in their current homes), consumer confidence, and the impact of cuts to the Federal workforce can also influence local market activity, throwing a potential curveball at well-crafted listing plans.

“In general, April and May tend to have the most available inventory, with March and June close behind. Same goes for new listings coming on the market,” says David Howell, CIO and a Principal of Corcoran McEnearney. “But it’s important to note that the relative supply doesn’t change as much as the actual inventory. And that’s because there are more buyers in the spring as well. So, the supply of homes – inventory and contracts – is only a little lower in the spring than it is in the winter months.”

“That wasn’t always the case,” says Howell. “Many years ago, we could count on the market being very quiet from Thanksgiving through most of January. But as our market grew more culturally diverse, the traditional seasonality waned to some degree.”

Another regional influence is the high number of military installations and the servicemembers who keep them operating, but even that impact is shifting from a spring/summer impact to one that is increasingly spread out over the year. “The summer months were always the biggest for military moves, but PCS (permanent change of station) moves in the military are now typically three years rather than two like they used to be, decreasing the number of moves military personnel would make,” Howell explains.

“What moves the market far more than the seasons is geography and major economic indicators – like mortgage rates and unemployment,” he adds.

As we head toward what could be peak Selling Season, what are the stats telling us about what to expect? BrightMLS, the mid-Atlantic database of real estate transactions, reports that year-to-date, new listings are up 10.4% in the D.C. region, compared to 4.8% for the overall Bright MLS service area. (This is higher than last year but is 5.3% lower than listing activity in the week prior.)

BrightMLS also reports that for the week ending March 23, the increase in local inventory is encouraging sellers to lower their prices, with the share of sellers dropping their asking price now two percentage points higher than it was a year ago. It had been anticipated that DOGE would cool housing market activity in the greater Washington, D.C. area, but BrightMLS reports that the uptick in new listing activity has drawn some sidelined buyers into the market.

“In the spring market, homes tend to go under contract about 10-15% faster, likely influenced by a combination of better weather that makes it easier to see and show houses and the simple fact that there are more buyers in the spring,” says Howell.

Sellers who are preparing to list soon should expect some negotiation from buyers who see, maybe, not “bargains” but “opportunities” with more homes to choose from. Buyer activity was relatively stronger in the D.C. area market than in other parts of the Mid-Atlantic region last week, with pending sales activity the strongest in the local markets where listing activity has increased the most.

If you’re planning to list within the next month or two to capture excited buyers and stand out from the competition, working with the experienced Realtors® at Corcoran McEnearney who understand the nuances of our local market will ensure your real estate goals are achieved no matter what season you’re selling.

Karisue Wyson

Karisue Wyson is the Director of Education for Corcoran McEnearney and was previously a Top Producer Realtor® in the Alexandria Office.

Visit corcoranmce.com to search listings for sale in Washington, D.C., Maryland, Virginia, and West Virginia.

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The seasonal transition to spring rains brings a risk of flooding, but smart homeowners and buyers know how to navigate potentially troubled waters ahead.

Pop Quiz! True or False?

• Question 1: Homeowners insurance covers flood damage.
• Question 2: Flood insurance will cover the repair or replacement cost of a home, regardless of the property value.
• Question 3: If my home is damaged by a flood, I will get Federal assistance. 
• Bonus Question: Sellers have to disclose if a property is in a flood zone. 

The answer to all three of those questions is FALSE, and the answer to the Bonus Question is … “Probably not.“

According to the National Association of Insurance Companies (NAIC), flooding is the most frequent and expensive natural disaster in the United States. Climate change is exacerbating the risk of flooding as more frequent and violent storms and hurricanes are impacting areas that rarely see flooding, like the September inland disaster caused by Hurricane Helene moving across the southern Appalachian Mountains – devastating parts of Georgia, Tennessee, Virginia, and the Carolinas.

As we spring into flood awareness season, it’s important to understand the logistics of determining whether you need flood insurance, how to acquire it, and what it covers in the event of a claim. Flood insurance can be very expensive – one inch of water can cause $25,000 worth of damage, according to data collected from the Federal Emergency Management Agency (FEMA) – so it makes financial sense to investigate whether a property is at risk for flooding. However, where to get that information varies based on where the property is located. 

How To Uncover Risk

Sellers in DC must disclose if their property is in a flood hazard area or special flood hazard area (SFHA) on a Seller’s Disclosure Form that is provided to buyers, while Maryland sellers are only required to disclose whether water stands on the property for more than 24 hours after heavy rain and whether or not the property is located in a flood zone. Virginia sellers don’t need to make any representations about whether a property is in a flood hazard area unless the property has been deemed a “repetitive risk loss,” meaning the property has had two or more claims of $1,000 or more paid by the NFIP within any rolling 10-year period. West Virginia has no seller requirements for disclosing flood risk at all, one of 21 states without any obligation to inform a buyer of this potential hazard.

Therefore, it is up to buyers to conduct a due-diligence review of the property, and they can start by reviewing FEMA’s flood maps or state-specific resources like these for Virginia, DC, Maryland, and WV. Buyers should also look for guidance from their lending institutions, who will most likely require flood insurance as part of a mortgage. 

How to Get Insured

Homeowners insurance policies do not cover flood damage so owners will have to secure a special flood policy. Some of these policies may be privately insured, but most flood insurance comes from the National Flood Insurance Program (NFIP), a public-private partnership between the federal government, the property and casualty insurance industry, states, local officials, lending institutions, and property owners. It was created by Congress in 1968 to provide insurance to help reduce the socioeconomic impact of floods to property owners, renters, and businesses.

Start with your preferred insurance company for guidance on securing coverage as they may already be connected with the NFIP. According to FEMA’s last update in 2019, the average flood policy cost to consumers was about $700, but, depending on the value of the property, an owner may need to get an additional private policy outside of their insurance company as the NFIP only covers up to $250,000 in repair costs and up to $100,000 for contents coverage. Private insurance may not be available in all states, and more restrictions are happening each year as climate change disasters push premiums ever higher and force insurers to leave some coverage areas completely. Federal programs in the event of natural disasters rarely come close to covering actual repair or recovery costs, generally providing just $3,000-$6,000 for individual grants. 

Keep in mind your flood insurance coverage might not automatically renew so be sure to check your renewal date to ensure the premium is covered. Flood policies take 30 days after registration to become active so the time to get a policy in place is NOW.

The National Association of Realtors® (NAR) estimates that the NFIP is essential to 1,360 home sale closings daily, translating to approximately 41,300 affected monthly transactions nationwide. If you’re in the market to buy a home, connect with one of our expert Corcoran McEnearney Agents who will advise you on the best way to protect your purchase, no matter what storms may lie ahead.

Visit corcoranmce.com to search listings for sale in Washington, D.C., Maryland, Virginia, and West Virginia.

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