Washington D.C. Metro

October 2024 | 
Home Demand Index: 85 | 
Tier: Slow

Metro Area Overview

The Home Demand Index (HDI) for this report period stands at 85, reflecting a slight increase from last month’s 80 and a significant rise from last year’s index of 50. This trend suggests improving buyer activity, potentially influenced by favorable market conditions. The year-over-year growth highlights a stronger market, but the demand pace remains slow.
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. | October 2024

Home Demand Index

The Home Demand Index (HDI) for this report period stands at 85, reflecting a slight increase from last month’s 80 and a significant rise from last year’s index of 50. This trend suggests improving buyer activity, potentially influenced by favorable market conditions. The year-over-year growth highlights a stronger market, but the demand pace remains slow.
Buyer interest in all types of homes in the Washington D.C. metro area has increased. The index for luxury condos rose the most, up by 19%, followed by luxury single-family homes and townhouses, which both saw an 11% increase. Demand was strongest for luxury condos, attracting a moderate level of buyer interest. Conversely, demand was weakest for entry-level single-family homes, mid-market single-family homes, and townhouses, with buyer interest categorized as slow. The months of supply were higher for most types of homes, ranging from 1.8 months for mid-market single-family homes to 5 months for luxury condos.
Monthly Statistics for October 2024
Home Demand
Index
85
(Slow)
Home Demand Index
from prior month
80
Home Demand Index
from prior year
50
Index change
from prior month
6.3%
Index change from
same time last year
70%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com