Published October 18, 2026 in Market Update

More homes are on the market, but leverage is uneven

By Tamika R. Johnson, MBA, Associate Broker

Real estate, Primary market

Realtor.com reported that for-sale listings across the U.S. were growing nearly 7% year over year as of October 15, 2026. The Primary market is following that same pattern. But "more supply" is not one story here. It is several different stories depending on which ZIP code you are in.

The Real Estate Data Aggregator counted 1,994 homes for sale and 1,680 homes sold across the Primary market in the three months ending August 31, 2026. That gap matters. More homes sitting than selling means buyers in some parts of this market have real options. In others, they still do not.

The supply split, ZIP by ZIP

Months of supply is the clearest way to read leverage. Under 3 months generally favors sellers. Above 5 months generally favors buyers. Here is where each ZIP code stood in the three months ending August 31, 2026, according to the Real Estate Data Aggregator.

ZIP 20745 is the clearest example of a looser market. The Real Estate Data Aggregator counted 7.8 months of supply there, up 2.9 months from a year earlier. Homes for sale rose 38.1% year over year, while homes sold fell 13.1%. That combination puts sellers in a harder position. Pricing needs to be sharper, not just competitive.

ZIP 20020 tells a similar story. The Real Estate Data Aggregator counted 7 months of supply and 195 homes for sale against just 86 sold. The sale-to-list ratio came in at 96.8%, meaning sellers there were giving up ground on price. Only 13.3% of homes went under contract within two weeks of listing.

Where sellers still have the edge

ZIP 20603 is a different picture. The Real Estate Data Aggregator counted just 2.5 months of supply, down 1.6 months from a year ago. More than half of homes sold above list price: 51.2%. The average sale came in at 101.8% of list. Homes sold 38.9% more often than the prior year. That is a market where a well-priced home draws competition.

ZIP 20708 is worth noting too. Fewer homes sold compared to last year, but 53.6% of them sold above list price, up 25.8 points from a year earlier. The average sale hit 102.1% of list. Buyers in ZIP 20708 were not getting discounts.

What the national picture adds

The National Association of Realtors reported that existing-home sales across the U.S. reached 3.99 million units in September 2026, with national inventory at 1.60 million homes. National prices were up just 1.3% year over year. That is a slow-growth environment nationally, which is consistent with what the Primary market's own numbers show: prices are holding in some ZIP codes and dipping in others.

Freddie Mac put the 30-year fixed rate at 7.40% as of October 15, 2026. That rate is not helping buyer demand. It is one reason sellers in the looser ZIP codes cannot afford to be casual about pricing. Buyers carrying a 7.40% rate are doing the math carefully on every offer.

Speed: how quickly homes are moving

Days on market tells you how patient buyers are being. In most ZIP codes, homes are taking longer to sell than they did a year ago. That is not a crisis, but it is a signal. Sellers who price expecting last year's pace are going to be disappointed.

Prices: up in some places, down in others

The median sale price varied widely across the Primary market in the three months ending August 31, 2026. ZIP 20721 led at $600,000, up 9.6% from a year earlier, according to the Real Estate Data Aggregator. ZIP 20640 was the lowest at $350,000, though prices there rose 6.1% year over year.

Several ZIP codes saw prices dip. ZIP 20695 fell 12% year over year to a median of $433,290. ZIP 20706 dropped 8.6% to $416,000. ZIP 20720 fell 6% to $550,000. In each case, the Real Estate Data Aggregator shows those declines happening alongside rising days on market or rising supply. The price move is the market correcting for positioning that was too high.

What this means if you own a home here

If your home is in a ZIP code with 2.5 to 3 months of supply, you still have pricing leverage. The data supports it. Buyers in those areas are competing, not negotiating down.

If your home is in a ZIP code with 5 months or more, the market is telling you something. It is not that your home cannot sell. It is that the price has to earn the buyer's attention in a room full of other options. That is a different job than it was a year ago.

The Real Estate Data Aggregator counted 2,177 new listings across the Primary market in the three months ending August 31, 2026, against 1,798 pending sales. More homes are coming on than going under contract. In the ZIP codes where supply is already elevated, that gap matters for how you position from day one.