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After Spring Slump, DC’s New Condo Market Bounced Back

  • September 17, 2020

by UrbanTurf Staff

Inside a unit at TRIBECA in NoMa.

As with the rest of the housing market, the spring of 2020 was a rough one in DC for new condos. However, new data from condo marketing and sales brokerage Urban Pace shows how the new condo sector rebounded along with the rest of the market this summer. 

Below, UrbanTurf picks out some of the more interesting and telling data points from the summer statistics. 

  • 869 -- The number of new condos sold in DC from March to May, down 28% compared to the same period in 2019. 
  • 1,245 --The number of new condos sold in DC from June to August, up 36% compared to the same period in 2019. 
  • 127 -- The number of contracts for new condos written in DC's 20002 zip code in 2020. 
  • $552,044 -- The average sales price for new condos in DC in August, up 3.5% compared to August 2019. 
  • 5.45% -- The year-to-date increase in new condo sales in the District compared to the same period in 2019. 

This article originally published at http://dc.urbanturf.com/articles/blog/after-spring-slump-dc-new-condo-market-bounces-back/17296

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Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
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The Scoop on Mortgage Insurance

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