The Arlington residential real-estate market was essentially the only one across the Washington region with any wind beneath its wings in as autumn took hold.
The county proved the only locality to sustain a three-digit rating in the monthly T3 Home-Demand Index, which looks at buyer interest all the way down to the ZIP code level.
The most recent report was issued Nov. 10 by Bright MLS.
The open-ended scorecard gauges buyer-interest conditions as High with any total above 130; Moderate from 110-129; Steady from 90-109; and Slow from 70-89. Any score less than 70 suggests the market of available homes is limited.
Arlington scored 104, the lone local jurisdiction to make it up to the “Steady” category for October. Though down a third from a year before, it was higher than the 90 recorded a month ago.
By ZIP code, the Arlington pack was led by 22206 (171) and 22203 (139), followed by 22213 (116), 22209 (110) and 22204 (102). In double digits were 22205 and 22201 (96 each), 22202 (92) and 22207 (75).
Alexandria, which in mid-summer had briefly risen above Arlington to lead the field, was second in the new report at 83, up from 76 a month before. Falls Church was third at 64, down from 72.
The District of Columbia recorded a score of 62, followed by Prince George’s County (60), the city of Fairfax (59), Fairfax County (56), Montgomery County (51), Loudoun County (50) and Frederick County (43).
All 10 jurisdictions were down by double-digit amounts compared to a year ago. The metro-wide score of 57 was down 37 percent from the year before.
A spike in interest rates, lack of inventory, high prices and typical seasonal slowing are headwinds that have caused some buffeting the market at the moment, but “homes are still selling very quickly,” said Lisa Sturtevant, chief economist for Bright MLS.
“Some buyers will persevere in the final months of 2023,” she said. “Others will decide to wait until spring, hoping for lower rates and more inventory. Prospective buyers who are in the market this winter should expect some relief, as price appreciation is slowing.”
For full data all the way to the ZIP-code level across the region, see the Website at homedemandindex.com.
