Home-buyer interest in Fairfax County properties has moved from the “Moderate” level to “High” as spring takes hold, according to a monthly survey of showing data.
Fairfax scored a 131 in the latest T3 Home Demand Index, created by the Mid-Atlantic multiple-listing service Bright MLS and based on March data. It was detailed on April 11.
That’s up from 124 in March and 89 in February, and puts Fairfax behind just Arlington and Alexandria in terms of market strength across the D.C. region.
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.
Across the broader Washington region, April’s score of 119 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.
Inventory continues to constrain the market, as there are not enough properties to meet current demand. In Fairfax County, the strongest markets for buyer interest are in upper-end single-family homes and condominiums.
Full data for April can be found at www.homedemandindex.com.