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;

Market Trend Map

The Market Trend Map for the Washington D.C. Metro pulls the county map from the monthly reports and combines to provide a time-lapse of the overall market. Use the navigation at the bottom to toggle between months.

Washington D.C. Metro County-Level Market Trend Map | Home Demand Index

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.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

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

Washington D.C. | August 2023

Home Demand Index

Demand for Washington Metro area homes fell in July according to the Bright MLS | T3 Home Demand Index. The Index was 11 percent lower over the month and reflected a Slow pace of buyer activity. The Index was 26.4 percent lower than one year earlier when demand was in the Moderate category.

Buyer interest in all types of homes fell in July. The Index for luxury single-family homes decreased the most, falling by 15 percent, followed by a 13 percent decline for mid-market single-family homes. Demand remained strongest for luxury condos, which attracted a High level of buyer interest, followed by luxury single-family homes with Steady demand. Demand was weakest for entry-level and mid-market single-family homes, each with buyer interest in the Slow range. The inventory of homes available for sales remained very low in July. The months supply did increase for each type of home, however, due to lower sales and little change in the number of listings on the market. The months supply ranged from 1.3 months for mid-market single-family homes to 3.4 months for luxury condos.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

110

Index change
from prior month

-11%

Index change from
same time last year

-26.4%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | July 2023

Home Demand Index

Demand for homes in the Washington Metro area decreased in June with the Bright MLS | T3 Home Demand Index down by 4.3 percent to 89 reflecting a Slow pace of activity. The Index was 25.8 percent lower than one year earlier.

Except for a marginal increase in townhouse demand, buyer interest in all other types of Washington Metro area homes was lower in June. The Index for entry-level single-family homes decreased the most, falling 15 percent to 70, a level of demand in the Slow category. Buyer interest was strongest for luxury condos, which attracted a High level of demand, followed by luxury single-family homes with Moderate buyer interest. Demand was weakest for entry-level single-family homes. 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 one month for mid-market single-family homes to 2.8 months for luxury condos.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

120

Index change
from prior month

-4.3%

Index change from
same time last year

-25.8%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | June 2023

Home Demand Index

Demand for homes in the Washington Metro area fell 7.4 percent according to the Bright MLS | T3 Home Demand Index. The Index, at 88, reflected a Slow pace of buyer interest, down from a Steady level of demand in April. Compared with one year earlier, the Index was 25.4 percent lower.

Demand for different types of homes was mixed in May. The Index rose marginally for luxury single-family homes and entry-level condos but was lower among all other segments of the market. Demand was strongest for luxury single-family homes and luxury condos, both of which attracted a High level of demand. Buyer interest was weakest for entry-level and mid-market single-family homes, each with Slow demand. The months supply fell for each type of Washington Metro area home, reflecting a rise in sales and only a small increase in listings on the market. The months supply ranged from one month for mid-market single-family homes to 2.9 months for luxury condos.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

118

Index change
from prior month

-7.4%

Index change from
same time last year

-25.4%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | May 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area rose 3.4 percent in April to 90, a level that is consistent with a Steady pace of buyer demand. Although marking the fourth consecutive monthly increase, the Index was 29.1 percent lower than one year earlier.

Buyer interest in entry-level condos was down marginally, while the Index for all other segments rose slightly. The Index was well below the year-earlier level across all segments with luxury single-family homes 40 percent lower, more than any other segment of the metro market. Demand was strongest for luxury condos, which continued to attract a High level of buyer interest, and in the Moderate category for luxury single-family homes. Buyer interest was in the Slow or Steady range for all other segments of the market. The months supply changed little in April compared with March but remained relatively lean among most segments of the market. The months supply ranged from 1.2 months for mid-market single-family homes to 3.5 months for luxury condos.

Home Demand
Index

(Steady)

Home Demand Index
from prior month

Home Demand Index
from prior year

127

Index change
from prior month

3.4%

Index change from
same time last year

-29.1%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Washington D.C. | April 2023

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area rose 7.8 percent to 83 in March but remained in the Slow category. Compared with one year earlier, the Index was 30.8 percent lower.

The Index for entry-level single-family homes fell in March but rose for all other types of homes. Demand increased the most for luxury single-family homes and luxury condos. In each instance the Index increased by 26 percent over the month. Buyer interest remained strongest for luxury condos with demand in the High category. The Index was in the Slow or Steady category for all other segments of the metro area market. The months supply decreased among all types of homes stemming mostly from an increase in sales and little change in the number of listings. The months supply ranged from 1.3 months for mid-market single-family homes to 3.2 months for luxury condos.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

Home Demand Index
from prior year

120

Index change
from prior month

7.8%

Index change from
same time last year

-30.8%

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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.

Home Demand
Index

(Slow)

Home Demand Index
from prior month

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

All reports for the Washington D.C. Market Area.

Washington D.C. | September 2023

Washington D.C. | August 2023

Washington D.C. | July 2023

Washington D.C. | June 2023

Washington D.C. | May 2023

Washington D.C. | April 2023

Washington D.C. | March 2023

Washington D.C. | February 2023

Washington D.C. | January 2023

Washington D.C. | December 2022

Washington D.C. | November 2022

Washington D.C. | October 2022

Washington D.C. | September 2022

Washington D.C. | August 2022

Washington D.C. | July 2022

Washington D.C. | June 2022

Washington D.C. | May 2022

Washington D.C. | April 2022

Washington D.C. | March 2022

Washington D.C. | February 2022

Washington D.C. | January 2022

Washington D.C. | December 2021

Washington D.C. | November 2021

Washington D.C. | October 2021

Washington D.C. | September 2021

Washington D.C. | August 2021

Washington D.C. | July 2021

Washington D.C. | June 2021

Washington D.C. | May 2021

Washington D.C. | April 2021

Washington D.C. | March 2021

Washington D.C. | February 2021

Washington D.C. | January 2021

Washington D.C. | December 2020

Washington D.C. | November 2020

Washington D.C. | October 2020

List of available data files that include the Washington D.C. Market Area.

Philadelphia | September 2023

Philadelphia | August 2023

Philadelphia | July 2023

Philadelphia | June 2023

Philadelphia | May 2023

Philadelphia | April 2023

Philadelphia | March 2023