North Bethesda, Md, Sept. 10, 2026 (GLOBE NEWSWIRE) -- The Mid-Atlantic housing market is showing signs of cooling amidst elevated mortgage rates, affordability challenges, and ongoing economic uncertainty. Prospective homebuyers are sitting out the market, some hoping for better rates and more leverage later this year.
In August, there were 19,191 total closed sales across the Bright MLS service area, a 3.6% drop from a year ago. Year-to-date home sales are now tracking only slightly higher than last year. Other measures of buyer interest indicate slowing market conditions. The number of new pending sales was down 5.8% year-over-year in August, while the number of home showings was down by 5.5%.
“Mortgage rates have remained persistently high this summer,” said Bright MLS Chief Economist Lisa Sturtevant. "With home prices still rising in most markets, some homebuyers are simply hitting an affordability ceiling. Others are waiting for more certainty in both the economy and the housing market.”
Active listings at the end of the month were up by 12.6% compared to last August. Inventory is growing as a result of fewer buyers making offers, rather than more sellers listing their homes for sale. Overall, in the Bright MLS service area, the number of new listings in August was 1.7% lower than a year ago.
Both buyers and sellers in the Mid-Atlantic region are moving cautiously as we head into fall. It is likely to be a relatively slow fall housing market, with prices growing more slowly, inventory rising, and homes staying on the market longer.
Key Facts – Mid-Atlantic Region, August 2026
- Home Prices: The median sold price was $441,995, up 2.1% from August 2025.
- New Pending Sales: There were 19,245 new contracts on homes in August, a 5.8% decline from a year ago.
- New Listings: Sellers brought 21,600 new listings to the market, a 1.7% year-over-year decline.
- Inventory: Total active listings at the end of August reached 51,726, a 12.6% increase from last year.
- Market Pace: The median days on market in August 2026 was 16, one day slower than a year ago.
- Showings: Showing activity dipped 5.5% compared to August 2025, with 358,730 total showings.
- Outlook: Lower-than-expected sales this fall, with slower price growth.
Philadelphia Metro Overview
- Home Prices: The median sold price was $425,000, which is a 4.9% gain from August 2025.
- New Pending Sales: New pending sales in August 2026 were 3.0% lower than a year ago.
- New Listings: Sellers outpaced buyers, with 6,500 new listings coming onto the market in August, a 4.9% increase from August 2025.
- Inventory: Month-end active listings were up 14.2% from a year ago.
- Market Pace: The median days on market was 14, one day slower than a year ago.
- Showings: Showing activity was 4.1% lower than last August.
- Outlook: More inventory coming onto the market, more leverage for buyers.
Baltimore Metro Overview
- Home Prices: The August 2026 median sold price was $425,000, up 2.4% from a year ago.
- New Pending Sales: New pending sales tracked 4.9% below last year’s level.
- New Listings: Listing activity was also lower, with new listings in August 2026 down 8.5% compared to a year ago.
- Inventory: Total active listings at the end of August 2026 were 14.7% higher than last August.
- Market Pace: The median days on market was 15, one day slower than a year ago.
- Showings: The number of showings in August 2026 was 6.0% lower than last year.
- Outlook: Slower fall housing market, fewer buyers and sellers and slower price growth.
Washington, D.C. Metro Overview
- Home Prices: The median sold price was $640,000 in August 2026, a 2.4% gain.
- New Pending Sales: New pending sales were down sharply in August, tracking 11.5% lower than a year ago.
- New Listings: Listing activity was also lower, with new listings in August 2026 down 3.8% compared to a year ago.
- Inventory: At the end of August 2026, active listings were 11.3% higher than a year ago.
- Market Pace: The median days on market was 19, unchanged from a year ago.
- Showings: Showing activity in August 2026 was 7.3% lower than last August.
- Outlook: Fewer buyers and sellers this fall, with a slower market pace.
Christy Reap Bright MLS 2023099362 christy.reap@brightmls.com