Washington D.C. Metro

September 2023 | 
Home Demand Index: 75 | 
Tier: Slow

Metro Area Overview

The Bright MLS | T3 Home Demand Index for the Washington Metro area decreased 10.7 percent to 75, a level consistent with Slow buyer demand. The Index was 25.7 percent lower than one year earlier.
The market trend line, below, provides a high-level monthly overview of the Home Demand Index for each of the metro market areas within the Greater Washington D.C. Metro Area. The Home Demand Index is baselined at 100, with 90-110 indicating a steady market. Index values above 110 indicate moderate and high activity while Index values below 90 indicate slower or limited activity. For more information for a given period of time, click on any point on the map to pull up the monthly report.
Metro Market Trend Data by Bright MLS | T3 Home Demand Index
Each of the market areas listed above are defined as follows:
  • Maryland-West Virginia Panhandle – Allegany, MD; Berkeley, WV; Garrett, MD; Grant, WV; Hampshire, WV; Hardy, WV; Jefferson, WV; Mineral, WV; Morgan, WV; Pendleton, WV; Washington, MD;
  • North Central Virginia – Caroline, VA; Clarke, VA; Culpeper, VA; Fauquier, VA; Frederick, VA; Fredericksburg City, VA; King George, VA; Madison, VA; Manassas City, VA; Orange, VA; Page, VA; Prince William, VA; Rappahannock, VA; Shenandoah, VA; Spotsylvania, VA; Stafford, VA; Warren, VA; Winchester City, VA;
  • Southern Maryland – Calvert, MD; Charles, MD; Saint Marys, MD;
  • Washington D.C. Metro – Alexandria City, VA; Arlington, VA; Fairfax, VA; Falls Church City, VA; Frederick, MD; Loudoun, VA; Montgomery, MD; Prince Georges, MD; Washington, DC;

Washington D.C. | September 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area decreased 10.7 percent to 75, a level consistent with Slow buyer demand. The Index was 25.7 percent lower than one year earlier.
Buyer interest in all types of Washington Metro area homes was lower in August. The Index for luxury condos decreased the most, falling 19 percent to 109, but was still higher than any other segment despite the decrease over the month. Demand was weakest for entry-level and mid-market single-family homes, both in the Limited demand category. The inventory of homes for sale remained very lean with less than two months supply for all types of homes except luxury condos. The months supply ranged from 1.3 months for mid-market single-family to 2.9 months for luxury condos.
Monthly Statistics for September 2023
Home Demand
Index
75
(Slow)
Home Demand Index
from prior month
84
Home Demand Index
from prior year
101
Index change
from prior month
-10.7%
Index change from
same time last year
-25.7%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com