Spring Housing Market Ramps Up in the Mid-Atlantic

The spring housing season is off to a strong and energetic start across the Mid-Atlantic. Despite broader economic uncertainty, March brought encouraging signs of momentum in most local markets. Lower mortgage rates and increased inventory are fueling early activity, setting the stage for a vibrant spring market.

In March, there were 22,021 new pending sales—up 2.8% compared to the same time last year. Month-over-month activity also surged, with pending sales jumping 37.5% and showing activity climbing by an impressive 39.5%, both clear signals that the spring homebuying season is gaining traction. Buyers are finding more choices this season. New listings rose 12.6% year-over-year and leapt 38.5% from February to March, giving home shoppers more opportunities than they’ve seen in recent years.

Home prices also remain on a steady upward path. The median sold price in the Bright MLS service area reached $410,000 in March, a 4.1% increase from last year. Notably, condo prices hit a record high last month, highlighting the strong demand in that segment.

With favorable conditions building, the Mid-Atlantic housing market is poised for a robust spring.

Curious about market trends in your neck of the woods?  Here are regional reports from our friends at Bright MLS…  https://www.brightmls.com/marketreports 

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