Washington D.C. Metro

March 2024 | 
Home Demand Index: 73 | 
Tier: Slow

Metro Area Overview

The Bright MLS | T3 Home Demand Index for the Washington Metro area increased 14.1 percent to 73, a level consistent with Slow buyer demand. Demand was in the Limited range in January. The Index was 5.2 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;

Washington D.C. | March 2024

Home Demand Index

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The Bright MLS | T3 Home Demand Index for the Washington Metro area increased 14.1 percent to 73, a level consistent with Slow buyer demand. Demand was in the Limited range in January. The Index was 5.2 percent lower than one year earlier.
Buyer interest in all types of Washington Metro area homes was unchanged or higher in February. The Index for luxury single-family homes increased the most, rising 40 percent. Buyer interest was strongest for luxury condos, which attracted a Moderate level of demand, followed by luxury single-family homes with Steady buyer interest. Demand was weakest for entry-level and mid-market single-family homes, each with Limited buyer interest. The months supply ranged from 1.5 months for mid-market single-family homes to 3.9 months for luxury condos.
Monthly Statistics for March 2024
Home Demand
Index
73
(Slow)
Home Demand Index
from prior month
64
Home Demand Index
from prior year
77
Index change
from prior month
14.1%
Index change from
same time last year
-5.2%
Bright MLS | T3 Home Demand Index

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