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Washington D.C. Metro

Washington D.C. | October 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro market area rose nearly six percent in September to 129, reading in the Moderate range. Although demand rose over the month, it was slightly more than nine percent below one year earlier.
Demand was High for all segments except lower-priced single-family homes. Consistent with the past several months, lower-priced single-family homes exhibited the weakest demand. There was a significant increase in demand in September for higher-priced single-family homes and higher-priced condos. Demand for lower-priced condos and townhouses rose marginally as well. Inventory levels remained tight, ranging from a 1.4 months supply for mid-priced single-family homes to a 3.8 months supply for higher-priced condos. The months’ supply for each type of home rose in September.
Monthly Statistics for October 2021
Home Demand
Index
129
(Moderate)
Home Demand Index
from prior month
122
Home Demand Index
from prior year
142
Index change
from prior month
5.7%
Index change from
same time last year
-9.2%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. Metro | September 2021

Home Demand Index

The August Bright MLS | T3 Home Demand Index for the Washington Metro market area was virtually unchanged over the month at 122, reading in the Moderate range of demand. The Index was 12 percent lower than one year earlier.
In August, demand was High for all types of homes except lower-priced single-family and townhouses. Consistent with the past several months, lower-priced single-family homes exhibited the weakest demand. While demand for higher-priced condos decreased significantly, the Index changed little over the month among other types of homes. Inventory levels remained tight ranging from a 1.2 months supply for mid-priced single-family homes to a 3.1 months supply for higher-priced condos. The monthly supply for each type of home rose marginally over the month.
Monthly Statistics for September 2021
Home Demand
Index
122
(Moderate)
Home Demand Index
from prior month
123
Home Demand Index
from prior year
139
Index change
from prior month
-0.8%
Index change from
same time last year
-12.2%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. Metro | August 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area decreased by nearly 17 percent in July to a reading of 123. Although in the Moderate demand range, the Index had been in the High category since March reflecting a surge in demand in the early part of the year that has since softened.
Demand among each of the six types of homes tracked by the Bright MLS | T3 Home Demand Index decreased in July. The largest decrease in buyer interest was in the higher-priced single-family segment, although demand remained higher than other segments. The months supply of homes for sale was very low among the single-family segments and townhouses. The leanest supplies of homes were in the mid-priced single-family segment, at one month, and townhouses at 1.1 months.
Monthly Statistics for August 2021
Home Demand
Index
123
(Moderate)
Home Demand Index
from prior month
148
Home Demand Index
from prior year
141
Index change
from prior month
-16.9%
Index change from
same time last year
-12.8%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | July 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington MLS market area fell slightly to a reading of 146 in June but was seven percent higher than one year earlier. Buyer interest has been in the High range for four consecutive months following the seasonal low in activity before the start of the spring homebuying rush.
Buyer demand was in the High category among all types of homes except lower-priced single-family where demand was Limited. Buyer interest in each single-family segment softened in June but was marginally higher in the condo and townhouse segments. The inventory of homes for sale remained low, ranging from just 0.8 months supply for mid-priced single-family homes to 2.2 months supply in each of the condo segments. While the months supply fell in the higher-priced condo segment it was virtually unchanged among other types of homes in June.
Monthly Statistics for July 2021
Home Demand
Index
146
(High)
Home Demand Index
from prior month
148
Home Demand Index
from prior year
136
Index change
from prior month
-1.4%
Index change from
same time last year
7.4%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | June 2021

Home Demand Index

Buyer demand for homes in the Washington MLS market area declined by seven percent based on the Bright MLS | T3 Home Demand Index. The Index, at 147, remained in the High category despite the decline over the month. Compared to one year earlier, the Index was 20 percent higher suggesting that demand for homes in the area remained strong.
Buyer demand was High among all types of homes except lower-priced single-family where demand was Slow. Buyer interest in each market segment softened in May, however. Consistent with the past several months, demand was strongest for single-family homes priced above $950,000 and higher-priced condos. The inventory of homes for sale remained low, ranging from just a 0.7 months supply for mid-priced single-family homes to a 2.7 months supply for higher-priced condos. The month’s supply for each type of home was little changed compared with April.
Monthly Statistics for June 2021
Home Demand
Index
147
(High)
Home Demand Index
from prior month
158
Home Demand Index
from prior year
122
Index change
from prior month
-7%
Index change from
same time last year
20.5%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | May 2021

Home Demand Index

The Bright MLS | T3 Home Demand Index rose nine percent in April to a reading of 157 reflecting a High level of demand for homes in the Washington MLS market area. The Index was significantly higher than one year earlier in large part due to the sharp drop in demand in earlier 2020 at the start of the pandemic.
An elevated level of buyer demand in the Washington market area was evident among most segments of the market. The Bright MLS | T3 Home Demand Index was in the High category for all types of homes except lower-priced single-family. Demand was strongest for higher-priced single-family homes and condos. With less than a one-month supply, the inventory of homes for sales was particularly low in the mid-priced single-family and townhouse segments which together accounted for 60 percent of sales in April.
Monthly Statistics for May 2021
Home Demand
Index
157
(High)
Home Demand Index
from prior month
144
Home Demand Index
from prior year
96
Index change
from prior month
9%
Index change from
same time last year
63.5%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | April 2021

Home Demand Index

Buyer demand for homes in the Washington MLS market area in March was High according to the Bright MLS | T3 Home Demand Index. The Index, at 144, was 23 percent higher than the February reading and markedly higher than one year earlier.
The rising level of buyer interest in Washington area homes in March was reflected among each type of home tracked by the Index. Buyer interest in lower-priced single-family homes was Slow, although rising marginally from the previous month. Among all other segments, the Index was in the High category and rose by double-digit percentages over the month. The inventory of homes available for sale remained remarkably low ranging from a 0.7 months supply for mid-priced single-family homes to a barely adequate 2.9 months supply for higher-priced condos.
Monthly Statistics for April 2021
Home Demand
Index
144
(High)
Home Demand Index
from prior month
117
Home Demand Index
from prior year
117
Index change
from prior month
23.1%
Index change from
same time last year
23.1%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com