Weekly Contract Activity | DC, MD, VA, WV

D.M.V. Contract Activity

August’s Parting Gift: Another Ouch

If we thought last week was rough, the market apparently had one more August surprise waiting for us.

Contract activity fell sharply in all six Metro DC jurisdictions, and this wasn't a collection of rounding errors. Every market posted a meaningful decline, with the region overall down more than 18% from the same week last year.

There is, however, one genuinely encouraging counterpoint: average days on market actually declined overall. Fewer buyers are writing contracts, but the buyers who are active are still getting homes under contract at a reasonably healthy pace.

Key Takeaways

Total new contract activity across the six jurisdictions fell from 1,024 contracts last year to 836 this year, a decline of 188 contracts, or 18.4%.
But here's the better news: the regional weighted average days on market actually fell from 46.6 days to 44.1 days, an improvement of 2.5 days, or 5.4%.
And perhaps the most remarkable number in the report: combined year-to-date activity is now essentially dead even with last year—37,133 contracts in 2025 versus 37,137 this year. That's a difference of just four contracts across the entire region.

Why It Matters

There's really no reason to sugarcoat the weekly numbers. This was a bad week, capping what has been a bad August for contract activity.
Northern Virginia, the region's largest market, was down more than 21%. Prince William—our most reliable bright spot this year—fell nearly 20%. And Washington, DC was off more than 30%.
The weakness wasn't confined to one price range, either. In Northern Virginia, contracts below $750,000 declined 22.2%, while those above $750,000 fell 21.0%. Prince William's upper end was particularly weak, dropping more than 50%. This was a broad slowdown.
But the days-on-market numbers tell a more nuanced story. Despite an 18.4% decline in contracts, the homes that did find buyers had actually spent less time on the market overall than last year. Northern Virginia was virtually unchanged at about 38 days, Prince William improved from 34.7 to 31.0 days, and Prince George's dropped substantially from 57.0 to 44.1 days. Montgomery and Loudoun moved higher, while DC improved but remained the slowest market at 75.1 days.
That distinction matters. Transaction volume has weakened considerably, but market velocity hasn't. We're seeing fewer buyers step forward, not necessarily a market full of listings that buyers simply won't purchase.
And then there's the year-to-date number. After spending much of the spring comfortably ahead of 2025, the Metro DC market has now given back essentially its entire lead. Through August 29, 2026 is ahead of 2025 by exactly four contracts—37,137 versus 37,133.
You couldn't get much flatter than that if you tried.
Underneath that regional total, though, the markets remain quite different. Prince William is still up 7.2% year-to-date and Northern Virginia is up 1.7%, while Montgomery is essentially flat (+0.1%). On the other side, Loudoun is down 5.2%, Prince George's is down 0.9%, and Washington, DC is down 5.7%.
So August has unquestionably erased the region's earlier advantage. Whether it has changed the underlying direction of the market is a question September will have to answer.

The Real Estate Details

Northern Virginia: 356 → 279 (-21.6%)
Loudoun County: 95 → 87 (-8.4%)
Prince William County: 121 → 97 (-19.8%)
Montgomery County: 177 → 151 (-14.7%)
Prince George's County: 177 → 154 (-13.0%)
Washington, DC: 98 → 68 (-30.6%)
Total contracts: 1,024 → 836 (-18.4%)
Weighted average days on market: 46.6 → 44.1 days (-5.4%)
Combined year-to-date contracts: 37,133 → 37,137 (+4 contracts; essentially flat at +0.01%)

CONTRACT ACTIVITY SUMMARY →

Blue Ridge Contract Activity

Another Ouch—But the Heart Is Still Beating

Apparently August wasn't quite finished with us.

Like the Metro DC market, both the Virginia Countryside and West Virginia Panhandle posted meaningful declines in contract activity last week. The difference is that these more rural markets still have a little more cushion built up from earlier in the year: both remain ahead of 2025 year-to-date, and combined activity is still up about 3%.

So, yes, another rough weekly report. But the longer-term vital signs remain better than the latest heartbeat might suggest.

Key Takeaways

Combined new contract activity fell from 191 contracts in 2025 to 143 this year, a decline of 48 contracts, or 25.1%.
This time both sides of our familiar "heartbeat" moved in the wrong direction. The Virginia Countryside declined 10.2%, from 98 contracts to 88, while the West Virginia Panhandle dropped a much steeper 40.9%, from 93 to 55.
Days on market were more mixed. The combined weighted average increased from 42.7 days to 47.7 days, or 11.7%, but that masks two very different stories: Countryside homes took longer to sell, while Panhandle homes actually sold faster.
Most importantly, combined year-to-date contract activity remains ahead of last year: 6,144 contracts in 2025 versus 6,329 this year, an increase of 185 contracts, or 3.0%.

Why It Matters

There's no point putting lipstick on this particular pig: a 25% weekly decline is a bad number.
And unlike many of our previous reports, where the Countryside and Panhandle seemed to take turns carrying each other, both markets declined this week. Our EKG finally has two downward blips at the same time. But the magnitude was very different.
The Virginia Countryside was down 10.2%, which isn't good, but it held up considerably better than the Metro DC area's 18.4% decline last week. There were even pockets of strength. Contracts below $500,000 increased, as did the $750,000–$999,999 category. The biggest weakness was concentrated between $500,000 and $749,999, where activity dropped nearly 39%.
The West Virginia Panhandle was another story, falling 40.9%. Activity below $750,000 dropped from 91 contracts to 55, and there were no contracts above $750,000 compared with two last year. With only 55 contracts in total, though, percentage changes can become dramatic quickly in a market this size. It's a terrible week, but not necessarily evidence that the underlying market suddenly deteriorated by 41%.
Days on market reinforce that point.
The Panhandle's average actually improved from 39.2 days to 35.0 days, a 10.7% decrease. That's an interesting combination: dramatically fewer transactions, but the homes finding buyers did so faster than a year ago.
The Countryside went the other way, with days on market increasing from 46.1 to 55.7 days, up 20.8%. Because Countryside accounted for the majority of this week's contracts, that pushed the combined weighted average from 42.7 to 47.7 days.
And then we get to the numbers that keep this report in perspective: year-to-date activity remains positive in both markets. The Virginia Countryside is up 3.6%, from 3,076 to 3,187 contracts, while the West Virginia Panhandle is up 2.4%, from 3,068 to 3,142. Combined, these markets are running 3.0% ahead of last year.
That's especially notable given what's happening closer to Washington. The Metro area's year-to-date contract count is now essentially dead even with 2025. These rural markets have also lost some momentum during August, but they're entering September with a healthier year-to-date cushion.

The Real Estate Details

Virginia Countryside: 98 → 88 (-10.2%)
West Virginia Panhandle: 93 → 55 (-40.9%)
Combined contracts: 191 → 143 (-25.1%)
Weighted average days on market: 42.7 → 47.7 days (+11.7%)
Virginia Countryside YTD: 3,076 → 3,187 (+3.6%)
West Virginia Panhandle YTD: 3,068 → 3,142 (+2.4%)
Combined YTD: 6,144 → 6,329, a gain of 185 contracts (+3.0%)

CONTRACT ACTIVITY SUMMARY →

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