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Bright MLS June 2025 Housing Report: Mid-Atlantic Home Prices Hit Another Record High

North Bethesda, Md., July 10, 2025 (GLOBE NEWSWIRE) —

(North Bethesda, Md.) July 10, 2025 — The median sold price across the Bright MLS service area  reached a record high of $449,600 in June. While closed sales rose year-over-year, a growing number of price cuts—driven by elevated mortgage rates, rising inventory, and ongoing affordability concerns—suggest that home prices may have peaked or even begun to decline in some Mid-Atlantic markets.

There were 21,703 closed sales in June, a 5.6% increase over last year, though that rise reflects the market slowdown seen in June 2024 when mortgage rates exceeded 7%. New pending sales, an indicator of future activity, totaled 21,962, virtually unchanged year-over-year. Year-to-date pending contracts remain 2.0% lower than at this point in 2024.

“The 2025 housing market is shaping up to be relatively slow, with transactions on pace to match the level last year,” said Lisa Sturtevant, PhD, Chief Economist at Bright MLS. “Even though there is more inventory, high mortgage rates and high home prices are holding buyers back.”

Key Highlights:

Buyers Gaining Leverage: As supply increases and buyer activity moderates, more sellers are adjusting their asking prices. The market is gradually shifting toward one where buyers have more negotiating power, particularly in high-priced and slower-moving areas.

Regional Highlights

Philadelphia Metro:
Home prices hit a new record high but there are signs price growth is slowing

Baltimore Metro:
Home prices hit a new record high in June in the Baltimore metro area

Washington, D.C. Metro:
Home prices grow more slowly as inventory continues to climb

The full Mid-Atlantic and market metro area reports are available at BrightMLS.com/MarketInsights.


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