North Bethesda, Md., Nov. 10, 2026 (GLOBE NEWSWIRE) -- Higher mortgage rates and economic uncertainty have chilled the Mid-Atlantic housing market this fall. Closed sales and new purchase contracts lower in October, and homes are taking longer to sell, an indication of homebuyers’ reticence.
In October, there was a total of 16,794closed sales across the Bright MLS service area, a 12.0% decline compared to last October. The number of new purchase contracts fell by 17.4% as high rates hold prospective homebuyers from making an offer. Compared to October 2025, the average rate on a 30-year fixed rate mortgage in October 2026 was a full percentage point higher.
“Buyers are holding back this fall with rates above 7%,” said Bright MLS Chief Economist Lisa Sturtevant. “While higher-income buyers and cash buyers are still in the market, but it has gotten very difficult for first-time and moderate-income buyers.”
New listings are also down slightly compared to a year ago as homeowners pause on their decision to list their home amidst declining demand. Still, sellers outnumber buyers across the Bright MLS service area which is leading to an increase in inventory. At the end of October, there were 58,931active listings across the region, a 22.1% gain from a year ago.
There are few, if any, signs that market conditions will change in the months ahead. Home sales activity across the Mid-Atlantic region will continue to be sluggish through the end of the year. Inventory will increase though no significant price drops are expected in most markets across the Bright MLS area as both buyers and sellers are retreating.
Key Facts – Mid-Atlantic Region, October 2026
- Home Prices: The median sold price was unchanged from a year ago, at $425,000.
- New Purchase Contracts: There were 17,784 new contracts on homes in October, a 17.4% decline from a year ago.
- New Listings: A total of 25,092 new listings came onto the market in October, a 2.0% drop from last October.
- Inventory: At the end of October, there were 58,931 active listings for sale, a 22.1% year-over-year increase.
- Market Pace: The median days on market was 18 in October 2026, two days slower than a year ago.
- Showings: Showing activity dropped by 12.8% compared to October 2025, with 244,073 total showings.
- Outlook: Tempered home sales with sellers adjusting price expectations.
Philadelphia Metro Overview
- Home Prices: The median home price in October 2026 median sold price was $400,000, a 2.8% increase from a year ago.
- New Purchase Contracts: There were 5,376 new purchase contracts in October 2026, down by 15.3% compared to a year ago.
- New Listings: A total of 7,392 new listings came onto the market, a level that is 2.3% below last year.
- Inventory: At the end of October, there were 16,215 active listings, a 23.9% year-over-year increase.
- Market Pace: The median days on market in October 2026 was 17, two days slower than year ago.
- Showings: Showing activity fell by 9.2% compared to last October.
- Outlook: Higher-income buyers still active but rate-sensitive buyers on the sidelines
Baltimore Metro Overview
- Home Prices: The median home price in October 2026 was $405,000, unchanged from a year ago.
- New Purchase Contracts: There were 2,517 new purchase contracts, down 17.4% year-over-year.
- New Listings: The number of new listings was 3,533, a 4.0% decline compared to October 2025.
- Inventory: Total active listings at the end of October 2026 were 22.1% higher than last October.
- Market Pace: The median days on market was 19, four days slower than a year ago.
- Showings: The number of showings in October 2026 was 15.5% lower than last year.
- Outlook: Tepid market and softer home prices
Washington, D.C. Metro Overview
- Home Prices: The median home price was down slightly in October, at $625,000, a 0.8% year-over-year decline.
- New Purchase Contracts: The number of new purchase contracts was down sharply, dropping by 20.4% compared to last year.
- New Listings: A total of 5,545 new listings came onto the market in October, a 6.1% decline from a year ago.
- Inventory: At the end of October 2026, active listings were 22.1% higher than a year ago as sellers outpaced buyers.
- Market Pace: The median days on market was 16, one day higher than a year ago.
- Showings: Showing activity in October 2026 was 15.2% lower than last October.
- Outlook: Sluggish conditions as buyers look to 2027 for better conditions.
About Bright MLS
Bright MLS is the engine behind some of the most powerful and dynamic real estate markets in the country. As the largest multiple listing service in the United States, Bright empowers over 100,000 real estate professionals with real-time data, deep market intelligence, and the tools to serve more than half a million buyers and sellers each month across six states—Delaware, Maryland, New Jersey, Pennsylvania, Virginia, West Virginia—and the District of Columbia. In 2025 alone, Bright powered more than 460,000 listings, far outpacing other large MLSs. Bright was built to lead. Backed by a nationally respected research team, Bright delivers trusted housing intelligence that powers decisions and best-in-class tools designed to push organized real estate forward, creating a more transparent, competitive, and informed marketplace. Bright Solutions, the company’s new suite of SaaS products, helps real estate professionals meet the challenges of a rapidly changing landscape. Learn more at BrightMLS.com.
Kimberly Cure Bright MLS 610-205-3351 kimberly.cure@brightmls.com