An Uncertain November For The DC Area Housing Market

• December 10th

by UrbanTurf Staff

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The DC-area housing market hit a sluggish patch in November, according to the latest Bright MLS report, as both buyers and sellers remained cautious despite a recent dip in mortgage rates.

Long-term interest rates fell to their lowest point in 13 months, but the improvement wasn’t enough to shake off the broader economic uncertainty tied to federal spending cuts, layoffs, and the prolonged government shutdown. Closed sales fell 6.4% year-over-year and the number of homes to go under contract in November was 5% lower than last year. 

Sellers also showed hesitation. New listings across the region were 5.5% lower than in November 2024, continuing a pattern of homeowners holding onto their properties rather than testing uncertain market conditions. Still, inventory rose. With homes taking longer to sell, the total number of active listings climbed to 9,142 by the end of the month — a 34% jump compared to a year ago. Homes spent a median of 22 days on the market, nine days longer than last November, giving buyers slightly more breathing room than they’ve had in recent years.

To be clear, market conditions varied across the region. Northern Virginia continued to outperform, buoyed by stronger job stability and comparatively steady buyer demand. In contrast, the District and many Maryland suburbs saw softer activity, with slower traffic at open houses and more frequent price adjustments as sellers recalibrated expectations. These contrasts underscore how unevenly the region is navigating the ongoing economic headwinds.

Despite all the adverse conditions, home prices continue to rise in the region. The median price for the DC area rose to $630,000 in November, a 5% year-over-year increase. In DC (2.3%), Montgomery County (5.8%) and Arlington (13.7%), home prices are up across the board. 

 “Even with somewhat lower mortgage rates, homebuyers and sellers are still very cautious,” said Dr. Lisa Sturtevant, Bright MLS Chief Economist. “Economic uncertainty and ongoing affordability challenges remain the biggest constraints on the Mid-Atlantic housing market as we head into the final stretch of 2025.”

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/an_uncertain_november_for_the_dc_housing_market/24149.