Sellers may be feeling the pressure in many parts of the U.S. housing market, but that’s not the case everywhere. In the Mid-Atlantic, competition is still holding up.
According to Bright MLS’s first-quarter agent survey, 57 percent of homes across its service area received multiple offers. That’s down from nearly two-thirds a year ago, signaling a modest cooling — but not a collapse — in buyer competition.
Sellers may soon face a new reality
Rising inventory is beginning to shift the dynamic. Bright MLS said that buyers are gaining more time to make decisions and more leverage in negotiations, even as sellers continue to maintain the upper hand in many areas.
Competition remains most intense in the single-family segment, where 61.6 percent of homes attracted multiple bids. That compares to 54.6 percent of townhomes and 41.4 percent of condos.
And where competition exists, pricing power follows. Homes that received multiple offers sold above list price 41.2 percent of the time, compared to just 12.5 percent for those with a single offer.
“While homesellers held the advantage in the first quarter, there is evidence that the market is shifting,” Bright MLS Chief Economist Lisa Sturtevant told Inman via email. “Higher mortgage rates and economic uncertainty have led some buyers to pull back, while inventory continues to rise.”
Lisa Sturtevant
Sturtevant said that sellers in highly sought-after neighborhoods will still see multiple offers, but in general, those situations are likely to become less common in the months ahead. “Sellers will need to price more strategically and be prepared for greater buyer negotiation,” she said.
Philly leads in bidding wars amid tight supply
Competition for detached homes is being fueled by a persistent inventory shortage. At the end of March, just over 20,700 single-family homes were listed for sale across the Bright MLS service area — roughly two-thirds of the level seen in March 2020.
That imbalance stands in sharp contrast to other property types. Townhome inventory in March 2026 was 7 percent higher than pre-pandemic levels, while condo supply expanded even more significantly, rising 34 percent from March 2020.
The Bright MLS service area spans three major metros — Philadelphia, Baltimore and Washington, D.C. — but market conditions vary sharply across them. The Philadelphia region stands out as the most competitive, with 63.9 percent of homes receiving multiple offers, well above the rates in other submarkets.
That intensity in Philly is being driven by a deeper inventory shortfall. By the end of March, total active listings in the Philadelphia metro were just 57 percent of March 2020 levels. The gap is even more pronounced in the single-family segment, where inventory sits at just 41 percent of pre-pandemic supply.
With so few options on the market, Philly buyers have been forced into tighter competition, allowing sellers in the region to retain a clear edge.
