January 2022 Real Estate Update

January 2022 Real Estate Update

buy ivermectin online Data as of February 4, 2022

Washington, DC Market Key Findings

The Bright MLS T3 Home Demand Index for the Washington Metro area increased by 23.2 percent in January to 85, reflecting the seasonal increase in buyer search activity in the run-up to the spring homebuying market. However, the market’s demand was softer than a year ago. The rise in buyer interest was evident across nearly all home types, particularly for higher-priced single-family homes and condos.

Buyer interest in Arlington County and Alexandria City homes was High in January. Other counties in the Washington Metro areas recorded buyer demand ranging from Steady in the District of Columbia and Prince Georges County to Limited in Frederick County and Falls Church City.

January 2022 Median Sales Price

  • http://thewhiterosedentalpractice.co.uk/manifest?pwa=webhp Although prices increased seasonally, limited inventory levels continued to fuel the rising costs and provided little relief for bargain-hunting buyers.
  • Available inventory continued to narrow as the tight supply continued to push buyers to pay the full asking price. Overall, the metro had just half a month of supply of homes in the market.
  • Loudon County reached an all-time high of $860.0K for detached homes. With about a week’s worth of single-family home inventory up for sale, sellers commanded 101.5% of their original listing price.
  • Gains in the median sales price of townhomes ($507.8K, + 10%) outpaced other home types. The metro had only 0.36 months of supply in the category – just about ten days. Townhomes in Alexandria hit a new record of $820.0K, up +12%. These units went for $835.0K in the District, up 4%.

January 2022 Closed Sales

  • Kuroda Activity declined from last January’s record as limited supply and increased prices influenced the market.
  • Sales fell by a January record -13%. While fewer homes were up for sale, last year’s January volume hit an all-time high for the month.
  • Detached homes across the metro fell -16% from the year prior, with Fairfax (349) down by -20%.
  • While most jurisdictions in the NOVA region were hard hit, Arlington’s high home demand drove sales gains.

January 2022 Active Inventory

  • Buyers will face unprecedented challenges in the coming months. Active inventory fell to a decade low, the first time on record that volume fell under 4,000 units at the end of the month.
  • Detached home inventory (1,194 units) fell -48.9%. January finished with only 0.40 months (12 days) supply of single-family homes.

January 2022 New Pending Sales

  • While activity slid below last January’s record for the month, new pending volume was up +13% from the norm excluding 2021 (4,083).
  • New condo listings for the month popped +41% from the norm excluding Jan ’21, with DC up +47%.

January 2022 New Listings

  • While volume was not far from the January norm, it was not enough to match the market’s needs.
  • While down sharply from last January’s ten-year high for the month, new listings were down only -7% from the month’s average.
  • Townhome units fell in line with their typical January performance; Prince Georges County (268) saw a significant gain from last January, up +17%.

January 2022 Median Days on Market

  • Days on the market rose +3 from last January. While this month was the highest in nearly two years, it was still the second-lowest January on record.
  • Townhomes continued to move quickly off the market with lean inventory, coming under contract in 10 days for the third month.
  • DC hit its highest level in almost a decade, up a record +16 days. While buyers are still active, rising prices may be causing them to consider their options before making an offer.

January 2022 Showings

  • Fewer home showings than a year ago reflected a seasonally slow demand. Declines in the DC Metro continued to outpace the Mid-Atlantic overall.
  • However, buyers showed rising interest ahead of the spring market. Activity rose 43% month-to-month, better than the other major mid-Atlantic metros.
  • Buyers will continue to focus on Arlington County, where showings rose +8.4% from last year.

Washington, DC Metro Closed Sales

Median Sales Price by Housing Type

Months of Supply


About the DC Metro Housing Market Update

The DC Metro Area Housing Market Update provides unique insights into the state of the current housing market by measuring the number of new pending sales, trends by home characteristics, and key indicators through the most recent month compiled directly from Multiple Listing Service (MLS) data in ShowingTime’s proprietary database. The DC Metro Area housing market includes: Alexandria City, Arlington County, Fairfax City, Fairfax County, Falls Church City, Frederick County (MD). Loudoun County, Montgomery County, Prince George’s County, Washington, D.C.

Data provided by MarketStats by ShowingTime, based on listing activity from Bright MLS.

About Bright MLS

About Bright MLS Bright MLS’s real estate service area spans 40,000 square miles throughout the Mid-Atlantic region, including Delaware, Maryland, New Jersey, Pennsylvania, Virginia, Washington, D.C., and West Virginia. As a leading multiple listing service (MLS), Bright supports over 95,000 real estate professionals who in turn serve the more than 20 million homeowners in our footprint. In 2020, Bright’s customers facilitated $116.3B in real estate transactions through our system. For more information, please visit www.brightmls.com.

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