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ArlingtonReal EstateArlington still sees relatively strong home-buyer interest

Arlington still sees relatively strong home-buyer interest

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The regional and national real-estate markets may be cooling, but Arlington remains atop the pack in the Washington area when it comes to maintaining home-buyer interest.

The county was the highest-scoring among 10 jurisdictions in the latest monthly Bright MLS T3 Home Demand Index.

The index uses real-time technology to evaluate buyer interest, including showing requests and listing views, to provide a forward-looking view of the market.

The latest monthly report, covering activity in May, was issued June 13. It showed the regional activity level at 118, down from 126 a month before but still in the Moderate category.

Arlington, however, led all comers with a score of 205 – High – albeit down from 227 the preceding month.

The declines are perhaps no surprise, as a host of factors have led to a slight cooling in the market frenzy that had been in place for much of 2021 and well into 2022. Though still seen as a pro-seller environment, the local market has a bit more balance to it.

Anything above 130 on the T3 scale is considered a High level of activity, followed by Moderate (110 to 129), Steady (90 to 109), Slow (70 to 79) and Limited (under 70, largely due to a dearth of properties).

Among other jurisdictions in the region it was a case of haves and have-nots:

HIGH: Alexandria recorded a score of 193, Fairfax City and Fairfax County both at 136 Loudoun County 132 and Falls Church also 132.
MODERATE: None this month.

STEADY: The District of Columbia clocked in at 109, with Montgomery County at 108, Prince George’s County at 102 and Frederick County at 91.

(Frederick County, Md., several months ago was added to the list, although Prince William County, Va., is not included.)

With the exception of 22209, which at 115 scored in the Moderate range, every Arlington ZIP code stayed in the High category for the month, although most were down from peaks earlier in the year.

Leading the pack as has been the case in recent months was 22206 at 301. Following along were 22206 (268), 22204 (253), 22203 (238), 22213 (219), 22202 (209), 22201 (180) and 22207 (160).

Across the region, demand for lower-end condos and townhouses dropped during the month, which may have been a case of rising prices and interest rates beginning to price more people out of the market.

But those who had the cash were still engaged, as the strongest segment of the regional market for the month was that of upper-end single-family homes, perhaps as buyers saw them as a better investment than a tanking stock market.
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For full details, see the Website at homedemandindex.com.

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