North Bethesda, MD, Nov. 11, 2025 (GLOBE NEWSWIRE) -- Across the broad Mid-Atlantic region, sales were up slightly in October, but falling mortgage rates have not brought out a rush of buyers. According to the Bright MLS October 2025 Housing Market Report, there were 19,049 closed sales across the Bright MLS service area, a 0.7% uptick from last October. Year-to-date sales are tracking slightly above last year’s level.

The number of new pending sales, which reflects new purchase contracts during the month, was up by a little more, gaining 1.7% year-over-year. However, through the end of October, year-to-date pending sales are still lower than they were a year ago through the end of October.

“Even though mortgage rates are at their lowest level in 13 months, homebuyers are still very cautious,” said Dr. Lisa Sturtevant, Bright MLS Chief Economist. “Many prospective homebuyers are watching the news of weakness in the economy and are carefully monitoring their own economic situations.”

There were 47,900 homes available for sale at the end of October, which is an inventory level that is 22.1% higher than a year ago. Inventory is climbing primarily because buyers are pulling back. New listings were up only 2.5% year-over-year in October.

Despite slower sales and more inventory, the median price continues to rise, up 3.7% in October. However, home prices are not rising broadly across the Mid-Atlantic. The increase in the median price is being driven by the fact that higher-end buyers have been more active in the market, driving the mix of homes sold.

While economic uncertainty is a constraint in many places, there are some markets in the Mid-Atlantic that are particularly impacted by labor market and economic conditions. The federal government shutdown, now in its second month, and the potential for more federal government layoffs and budget cuts are having an impact on markets in the District of Columbia, Maryland, and Virginia.

“While the D.C. area housing market has been fairly resilient, we are definitely seeing some cracks,” Sturtevant said. “If the shutdown persists and if federal workers do not get back pay, we will see a much slower housing market in the region in November and December.”

Homes in the D.C. area continue to spend more time on the market, with the median days on market at 18 in October, a week longer than last year at this time.

Mortgage rates may fall a little further by the end of the year, but economic uncertainty and affordability will continue to be constraints on the market. There is a lot of variation in housing market performance across the Mid-Atlantic. Looking ahead to 2026, local economic and demographic factors are going to be the key drivers of local sales and prices.

October 2025 Housing Market by Region

Philadelphia Metro: Some signs of weakening housing market conditions in the Philadelphia metro area

• In October, there were 5,407 closed sales across the Philadelphia region, a 2.2% decline from a year ago.
• While lower mortgage rates brought out some buyers last month, leading to a 3.1% uptick in new pending sales, the overall year-to-date pending sales total is still just slightly above last year.
• At the end of the month, there were 12,903 active listings for sale across the region, which is a 10.4% increase over last year. Although inventory is growing, supply is still only 55% of 2019 levels overall in the Philadelphia region.
• In October, the median sold price was $388,500. The 2.2% year-over-year increase is the slowest pace of home price growth since May 2023.
• The combination of economic uncertainty and affordability constraints are starting to weigh on the Philadelphia metro area, even in some of the region’s suburban markets, where home sales activity had been very strong earlier this year.

Baltimore Metro: Prospective buyers pull back in the Baltimore metro area

• Despite mortgage rates that are at their lowest levels in more than a year, Baltimore area buyers are not budging. Closed sales in October were down 2.6% compared to last year, and the number of new pending contracts fell by 5.6% year-over-year.
• Sales were down in the city of Baltimore and in most of the region’s suburban markets.
• New listings in October were down 0.4% compared to a year ago, but at the end of the month, active inventory was 28.4% higher than it was a year ago.
• The median sold price in the Baltimore metro area was $405,000 in October, a 3.8% year-over-year gain that was driven by a shift towards more sales at the higher end of the market.
• Economic uncertainty and affordability continue to be constraints on the Baltimore area housing market. The region is also impacted by the federal government shutdown and layoffs.

Washington D.C. Metro: Cracks showing in parts of the Washington D.C. housing market  

• Against a background of economic uncertainty, prospective buyers and sellers in some markets in the D.C. region are moving cautiously.
• The regional numbers are primarily being driven by the District of Columbia, where the market has chilled considerably since August. Closed sales were down by 9.3% year-over-year in October in the District, and new pending contracts were 15.6% lower than last year.
• At the end of October, there were 10,661 homes available for sale across the metro area, a 34.1% increase from a year ago.
• The median sold price in October was $630,000, which reflects a 5.0% year-over-year gain. Relatively more higher-end buyers are driving this increase in the median price.
• As the federal government shutdown enters its second month and the prospects of more layoffs in the region increases, the overall Washington D.C. metro area housing market will be weaker than most other Mid-Atlantic housing markets at the end of 2025. 

Christy Reap
Bright MLS 
2023099362
christy.reap@brightmls.com