The spring home-selling season across much of the GazetteLeader’s Fairfax coverage area is getting under way missing one thing.
The sellers.
Every single ZIP code in the coverage area had too little inventory for prospective home-purchasers to get excited about as February moved into March, according to the latest T3 Home-Demand Index of Bright MLS.
The index uses a variety of data points to settle on a monthly score for buyer interest all the way down to the ZIP-code level. It is a forward-looking counterpart to rear-view-mirror monthly sales data.
The open-ended scorecard gauges buyer-interest conditions as High with any score 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.
And that’s where all the GazetteLeader’s Fairfax communities stood in new data.
McLean’s 22101 garnered a score of 66, followed by neighboring 22102 at 64. The three Vienna-area ZIP codes were next: 22181 at 59, 22180 at 43 and 22182 at 41.
Oakton’s 22124 stood at 35, one tick above Great Falls’s 22066 at 34.
(Dunn Loring rated a zero, which presumably means there was not a single property on the market in the 22027 ZIP code.)
For Fairfax County as a whole, the March rating of 77 was up slightly 73 a month before, standing at the middle of a pack that was led by Arlington (125) and Alexandria (117). Falls Church was 75, Loudoun County 63.
Across the entirety of the Washington metropolitan area, the score of 72, while down a third from a year before, was up from 71 in February and 57 in January.
Demand for all types of homes softened across the region in February except for luxury single-family homes, which rose. Although declining over the month, buyer interest was strongest for luxury condos, with demand in the Steady category.
For full details. see the Website at www.homedemandindex.com.
