Washington D.C. Metro

February 2024 | 
Home Demand Index: 61 | 
Tier: Limited

Metro Area Overview

The Bright MLS | T3 Home Demand Index for the Washington Metro area rose 32.6 percent in January to 61, a level consistent with Limited buyer demand. The Index was 18.7 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. | February 2024

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area rose 32.6 percent in January to 61, a level consistent with Limited buyer demand. The Index was 18.7 percent lower than one year earlier.
The Bright MLS | T3 Home Demand Index for all types of homes increased in January. Demand for luxury condos rose 64 percent followed by a 57 percent increase for luxury single-family homes. Buyer interest was strongest for condos with demand for entry-level condos in the Slow range and luxury condo demand in the Steady category. Demand was Limited in all other segments of the metro area market. The months supply of homes for sale was higher for all types of homes except luxury condos, which was marginally lower. The months supply ranged from 1.7 months for mid-market single-family homes to 3.7 months for luxury condos.
Monthly Statistics for February 2024
Home Demand
Index
61
(Limited)
Home Demand Index
from prior month
46
Home Demand Index
from prior year
75
Index change
from prior month
32.6%
Index change from
same time last year
-18.7%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com