Washington D.C. Metro

April 2024 | 
Home Demand Index: 83 | 
Tier: Slow

Metro Area Overview

Demand for homes in the Washington Metro area rose in March according to the Bright MLS | T3 Home Demand Index. The Index, at 83, was 9.2 percent higher over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 4.6 percent 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. | April 2024

Home Demand Index

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Demand for homes in the Washington Metro area rose in March according to the Bright MLS | T3 Home Demand Index. The Index, at 83, was 9.2 percent higher over the month and reflected a Slow pace of buyer activity. Compared with one year earlier, the Index was 4.6 percent lower.
Buyer interest in all types of metro area homes rose in March. The Index for luxury single-family homes rose the most, up19 percent, followed by mid-market single-family homes with a 12 percent increase. Demand was strongest for luxury condos and luxury single-family homes, each of which attracted a Moderate level of buyer interest. Demand was weakest for entry-level and mid-market single-family homes with buyer interest in the Slow range. The months supply was lower for most types of homes and ranged from 1.1 months for mid-market single-family homes to 3.2 months for luxury condos.
Monthly Statistics for April 2024
Home Demand
Index
83
(Slow)
Home Demand Index
from prior month
76
Home Demand Index
from prior year
87
Index change
from prior month
9.2%
Index change from
same time last year
-4.6%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com