DC Metro Area Market Overview

Home Demand Map

Buyer interest was strongest in Arlington County and Alexandria City with an Index in the Moderate range. Demand was Slow in Prince Georges and Fairfax counties along with Washington, DC. and Limited elsewhere in the metro area. The Index decreased over the month in each Washington Metro area county. The HDI was in the Steady range in the Southern Maryland and Maryland-West Virginia Panhandle market areas and Slow in the North Central Virginia region. Across the Greater Washington area, demand for homes in two-thirds of ZIP codes was in the Slow or Limited range compared with slightly more than half in October. Demand in one-in-ten ZIP codes was in the High range in November compared with 17 percent in October.
Home Demand Index

The Bright MLS | T3 Home Demand Index for the Washington Metro area decreased 16.7 percent in November to 75 reflecting a Slow pace of market activity. The HDI was 22.7 percent lower than the same month one year earlier.
Demand for all types of homes fell over the month. The HDI for higher-priced single-family homes fell the most, decreasing 26 percent in November, followed by a 19 percent decline for higher-priced condos and townhouses. Although decreasing more than any other segment over the month, the Moderate pace of demand for higher-priced single-family homes was greater than any other segment in November. Buyer interest was Limited for lower-priced single-family homes, Steady for higher-priced condos and Slow among the remaining market segments. The months supply of inventory rose for each type of home in November. The months supply ranged from 2.5 months for townhouses to 4.6 months for higher-priced condos.

Home Demand Index | Historical Year-over-Year Comparison

Demand and Inventory by Home Type

Demand for all types of homes fell over the month. The HDI for higher-priced single-family homes fell the most, decreasing 26 percent in November, followed by a 19 percent decline for higher-priced condos and townhouses. Although decreasing more than any other segment over the month, the Moderate pace of demand for higher-priced single-family homes was greater than any other segment in November. Buyer interest was Limited for lower-priced single-family homes, Steady for higher-priced condos and Slow among the remaining market segments. The months supply of inventory rose for each type of home in November. The months supply ranged from 2.5 months for townhouses to 4.6 months for higher-priced condos.

About Melinda Estridge

Melinda Estridge has been helping people buy and sell properties for more than 30 years and is ranked in the top 1/2% of REALTORS® nationwide. Her enthusiasm, dedication, and personal integrity make her the REALTOR® of choice in the Washington Metropolitan Area. Melinda has over a billion dollars worth in sales.

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