Home sales across the city took a tumble in October, but the median sales price was higher, according to new data.
A total of 125 properties went to closing across Alexandria last month, according to figures reported Nov. 10 by Bright MLS. That’s down 27.3% from a year before.
The median overall sales price, however, increased 5.3% to $789,900 citywide, while the median number of days on the market between listing and ratified sales contract was unchanged at 12.
The October market suggests the region’s home sales are growing dormant — not unusual for autumn and winter — said Lisa Sturtevant, Bright MLS’s chief economist.
“The Washington, D.C., area housing market will continue to be sluggish through the end of the year, as many prospective homebuyers and sellers hold out for better conditions in 2027,” Sturtevant said.
“Buyers who remain in the market will have more leverage as sellers will be more likely to drop asking prices and offer concessions during the last two months of the year,” Sturtevant said.
For the week ending Nov. 8, 11.6% of Alexandria homes on the market saw owners cut prices, according to Bright MLS. That’s up from 10.3% a year before and was higher than Arlington (9.2%) and Fairfax County (8.2%).
For the week, showings across Alexandria were down (426 versus 585 a year ago), while active listings were up (456 versus 332).
Across the D.C. metro region in October, home sales totaled 4,224, down 19.2% year over year, while the overall median sales price of $625,000 was down 0.8% — marking the first annual drop in more than three years.
“However, price trends were mixed across the region, with many local markets still posting gains,” Bright MLS noted in its monthly report.
For the month, the median regional sales price of a single-family detached home was up 2% to $826,000, while the median price for townhouses was down 0.8% to $595,000. The median regional sales price for condominiums was $375,000, down 5.1%.
Where is the market headed across the metro area? According to Bright MLS:
“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.”
Elevated interest rates are impacting the local market and having an effect nationally, said Lawrence Yun, chief economist of the National Association of Realtors.
“Homes are staying on the market a little longer than before,” Yun said, urging sellers to be realistic about existing conditions.
If the economy stabilizes and interest rates decline, the national market would be primed for a strong start to the new year, Yun predicted.
“Affordability is tough, but people’s incomes are rising, and if somehow mortgage rates go down, think about the potential housing demand that could be released to the marketplace,” he said.
Yun said a rebound in consumer confidence would also be key.
Consumer sentiment has fallen to roughly half its 2000 level, even as the economy has added jobs.
“If we can boost confidence levels, maybe that can also change the dynamics,” Yun said.
Figures represent most, but not all, homes on the market. All October 2026 figures are preliminary and are subject to revision.
