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Friday, February 3, 2023
ArlingtonArlington homes market still hot-hot-hottest in region

Arlington homes market still hot-hot-hottest in region

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Home-buyers are still sold on Arlington as a location – if they can find anything to buy – as all parts of the county are seeing strong buyer interest.

And in some nooks and crannies, that interest level is almost off the charts.

The county this month ranked at the regional tippy-top of the T3 Home Demand Index, created by the Mid-Atlantic multiple-listing service Bright MLS.

The ranking uses a variety of forward-looking data (such as visits to homes on the market) to settle on a monthly score for the Washington region’s overall homes market all the way down to the ZIP-code level. Unlike monthly sales data, it is a forward-looking index.

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Arlington garnered a score of 230 for March activity; figures were reported April 12. That’s up from 176 a month ago, confirming that seasonal trends are back in the local market: strong activity in spring and summer and lower levels in autumn and winter.

Across the broader Washington region, the T3 score of 119 reported April 12 was up from 108 a month ago and 85 two months ago, although it stood below the 146 recorded a year before, when the market was still on a tear after having been derailed in the early part of the COVID crisis.

Two of Arlington’s neighbors (Alexandria at a score of 184 and Fairfax County at 131) were, like Arlington, in the “High” market-activity segment of the ranking. An additional four (Falls Church at 128, Loudoun County at 119, the District of Columbia at 118 and Prince George’s County at 115) were in the “Moderate” level.

Montgomery County (109) ranked in the “Steady” category, while Frederick County, Md., rated “Slow.” (In this ranking, “Slow” sometimes means little buyer interest, but also can mean not much inventory for would-be purchasers to peruse.)

Across the region, one-third of all ZIP codes were in the “High” market-activity segment, up from 27 percent a month before. Despite the interest, buyer activity has “further depleted already low inventory,” analysts noted, giving many buyers only slim pickings to choose from.

In Arlington, all ZIP codes ranked in the “High” buyer-interest category, with two (22206 at 359 and 22205 at 329) near the very top of the regional list.

Also well up there were 22202 (274), 22204 (264), 22203 (257) and 22201 (241). Lower down, but still in the High category, were 22209 (187) and 22207 (132).

Full data can be found at www.homedemandindex.com.

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