Earlier this week, UrbanTurf reported on new housing data for the DC region that revealed a robust market in September that was largely the result of the strength of the condo and co-op sector. With the help of Bright MLS, UrbanTurf dug into the data to provide a little more context to the boom.
A look at condo and co-op sales around the city reveals two things. First, there was indeed a huge year-over-year increase in condo and co-op sales in September. However, that increase in sales volume needs to be looked at in the context of where sales were for DC neighborhoods in September 2019, which as the table below reveals were pretty low.
The neighborhoods that saw the largest increase in sales -- Navy Yard, Capitol Hill and H Street Corridor -- are also the areas with the highest concentration of large new condo developments in the city. (Sales tripled in the 20002 zip code.)
As is the case with property types in the rest of the city, in the majority of neighborhoods above, prices increased year-over-year, but that did not dampen sales.
This article originally published at http://dc.urbanturf.com/articles/blog/did-dc-have-a-condo-sales-boom-in-september/17415
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