Washington D.C. Metro

March 2023 | 
Home Demand Index: 72 | 
Tier: Slow

Metro Area Overview

Buyer interest in Washington Metro area homes eased in February. The Bright MLS | T3 Home Demand Index decreased 2.7 percent to 72, a reading consistent with a Slow pace of buyer activity. Compared with one year earlier, the Index was one-third lower.
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. | March 2023

Home Demand Index

Buyer interest in Washington Metro area homes eased in February. The Bright MLS | T3 Home Demand Index decreased 2.7 percent to 72, a reading consistent with a Slow pace of buyer activity. Compared with one year earlier, the Index was one-third lower.
Demand for all types of homes softened in February except for luxury single-family homes, which rose by one-fifth. Although declining over the month, buyer interest was strongest for luxury condos with demand in the Steady category. The Index was in the Limited range for mid-market single-family homes and in the Slow category among the remaining segments of the market. The months supply ranged from 1.7 months for mid-market single-family homes to 3.6 months for luxury condos. The months supply fell for each type of home in February compared with the month before.
Monthly Statistics for March 2023
Home Demand
Index
72
(Slow)
Home Demand Index
from prior month
74
Home Demand Index
from prior year
109
Index change
from prior month
-2.7%
Index change from
same time last year
-33.9%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com