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Washington D.C. | January 2022

Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area fell by 29 percent in December to a reading of 69. The Limited demand in December reflected a decline from the Steady pace in November. The Index was slightly more than 23 percent lower than the level one year earlier.
Demand fell for each type of Washington Metro area home in December. Demand for higher-priced single-family and higher-priced condos decreased the most over the month, each dropping by more than one-third. Buyer interest in mid-priced single-family homes fell by 31 percent. The lower-priced and mid-priced single-family segments exhibited the weakest demand with both in the Limited demand category. All other types of homes recorded a Slow level of demand. Inventory levels ranged from just 0.8 months supply for mid-priced single-family homes to a 2.3 months supply for higher-priced condos. The month’s supply was down slightly for all market segments due mostly to a decrease in the number of listings on the market.
Monthly Statistics for January 2022
Home Demand
Index
69
(Limited)
Home Demand Index
from prior month
97
Home Demand Index
from prior year
90
Index change
from prior month
-28.9%
Index change from
same time last year
-23.3%
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Home Demand Index | Historical Year-over-Year Comparison

Demand for homes in the Washington Metro area decreased sharply in November and December, with the Index recording a cumulative decline of 45 percent over the period. The decrease followed several months in the summer and fall when buyer interest remained moderate. The two-month drop in the Index was greater than the decrease over the same period one year earlier. This suggests that in addition to the seasonal drop in buyer interest, other factors, including rising home prices, reduced affordability, and limited inventory, also sidelined some would-be buyers.

Home Demand Index

Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Home Demand Map

Buyer interest in Arlington County and Alexandria City homes eased from a High level to a Moderate level in December. The Index was in the Slow range in Prince Georges and Fairfax counties and in the Limited category throughout the rest of the Washington Metro area. Buyer interest was Steady in the Southern Maryland and Maryland-West Virginia Panhandle market areas and Limited in the North Central Virginia region. Across the Greater Washington area, buyer demand in 13 percent of ZIP codes was High or Moderate in December, down from 32 percent in November. The Index in 58 percent of ZIP codes was in the Limited range, an increase from 38 percent in November.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Demand and Inventory by Home Type

Demand fell for each type of Washington Metro area home in December. Demand for higher-priced single-family and higher-priced condos decreased the most over the month, each dropping by more than one-third. Buyer interest in mid-priced single-family homes fell by 31 percent. The lower-priced and mid-priced single-family segments exhibited the weakest demand with both in the Limited demand category. All other types of homes recorded a Slow level of demand. Inventory levels ranged from just 0.8 months supply for mid-priced single-family homes to a 2.3 months supply for higher-priced condos. The month’s supply was down slightly for all market segments due mostly to a decrease in the number of listings on the market.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Single Family Home Below $395k

Demand for lower-priced single-family homes remained in the Limited category in December, falling by one-fourth according to the Bright MLS | T3 Home Demand Index. Buyer interest in this segment has been weak for several months with the Index down by nearly 50 percent compared with one year earlier. The months supply of homes, at 1.3, decreased from 1.6 in November.
Monthly Statistics for Single Family Home Below $395k
Home Demand
Index
36
(Limited)
Home Demand Index
from prior month
50
Home Demand Index
from prior year
70
Months of
inventory
1.3
Average daily inventory last month
401
Inventory sold
last month
312
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Single Family Home $395k - $950k

Buyer interest in mid-priced single-family homes was Limited in December, decreasing from a Steady pace of demand in November. With only 0.8 months supply of homes available for sale, would-be buyers in the market were faced with a challenging search process likely curbing overall sales. The months supply was lower in December, largely attributable to a decline in listings.
Monthly Statistics for Single Family Home $395k - $950k
Home Demand
Index
69
(Limited)
Home Demand Index
from prior month
100
Home Demand Index
from prior year
81
Months of
Inventory
0.8
Average daily inventory last month
1,321
Inventory sold
last month
1,655
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Single Family Home Above $950k

The Bright MLS | T3 Home Demand Index for higher-priced single-family homes fell by one-third in December to a Slow pace of demand. Although a steep decline, the Index was only somewhat lower than one year earlier, suggesting that most of the decline reflected the seasonal slowdown in buyer interest in this market segment. The month’s supply, at 1.1, was down from 1.7 in November.
Monthly Statistics for Single Family Home Above $950k
Home Demand
Index
84
(Slow)
Home Demand Index
from prior month
126
Home Demand Index
from prior year
95
Months of
Inventory
1.1
Average daily inventory last month
548
Inventory sold
last month
480
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Condo Below $570k

Buyer interest in lower-priced condos fell from a Moderate pace in November to a Slow pace in December. The Index, at 89, was down by 25 percent over the month and one-fourth lower than one year earlier. Along with a decrease in demand, the month’s supply fell to 1.9 from 2.6 months in November.
Monthly Statistics for Condo Below $570k
Home Demand
Index
89
(Slow)
Home Demand Index
from prior month
118
Home Demand Index
from prior year
117
Months of
Inventory
1.9
Average daily inventory last month
1,818
Inventory sold
last month
968
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Condo Above $570k

Demand for higher-priced condos fell more than any other segment of the Washington Metro area market, according to the Bright MLS | T3 Home Demand Index. The Index, down by nearly 40 percent, moved from High to Slow buyer demand over the month as a result. The months supply fell from 3.3 in November to 2.3 in December, with virtually all of the decrease attributable to a drop in the number of listings.
Monthly Statistics for Condo Above $570k
Home Demand
Index
86
(Slow)
Home Demand Index
from prior month
140
Home Demand Index
from prior year
118
Months of
Inventory
2.3
Average daily inventory last month
384
Inventory sold
last month
164
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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Washington D.C. | January 2022

Townhouse/Rowhouse/Twin All prices

Townhouse/
Rowhouse/Twin
All prices

The Index for townhouses fell by 30 percent in December to 72, reading in the Slow category of buyer demand. Demand was also lower than one year earlier. Low inventory levels remained a challenge for buyers looking for townhouses. The number of homes available for sale was equivalent to one month of sales, lower than all other segments except mid-priced single-family.
Monthly Statistics for Townhouse/Rowhouse/TwinAll prices
Home Demand
Index
72
(Slow)
Home Demand Index
from prior month
103
Home Demand Index
from prior year
94
Months of
Inventory
1
Average daily inventory last month
1,784
Inventory sold
last month
1,825
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

Note

1. This report is generated with data from the following counties:
  • 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;
2. This report is for the January 2022 period with data collected from the previous month.
Released: January 11, 2022
Reference ID: 1548

Washington D.C. | January 2022

Home Demand Map (Zip Codes)

Buyer interest in Arlington County and Alexandria City homes eased from a High level to a Moderate level in December. The Index was in the Slow range in Prince Georges and Fairfax counties and in the Limited category throughout the rest of the Washington Metro area. Buyer interest was Steady in the Southern Maryland and Maryland-West Virginia Panhandle market areas and Limited in the North Central Virginia region. Across the Greater Washington area, buyer demand in 13 percent of ZIP codes was High or Moderate in December, down from 32 percent in November. The Index in 58 percent of ZIP codes was in the Limited range, an increase from 38 percent in November.
Bright MLS | T3 Home Demand Index

www.homedemandindex.com

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