Quality Over Quantity for New Condos Coming to DC Area

• August 31st 2011

by UrbanTurf Staff

Regular readers of UrbanTurf know that the pipeline of new residential projects coming to the DC area is among the most robust in the country.

“Our pipeline has grown more in the last six months or so than it had in the two years prior,” Mark Franceski, director of market research at real estate sales and marketing firm McWilliams|Ballard, told UrbanTurf.

But while that pipieline is packed with rental and for-sale projects, Franceski noted that the nature of those coming projects, at least the condominiums, will be different than during the boom of a few years ago. Namely, the projects will be smaller, higher quality developments, that will likely carry higher price tags.

“The quality of new condos is going to be much better in the next few years, as quality matters much more in this cycle,” he said. “Only the projects with the best potential are going to get built — which is going to boost prices.”

Since financing for big buildings (150 units or more) is still almost nonexistent, projects will be smaller. This will in turn temper overall new condo supply and, correspondingly, the number of sales.

For a look at the many projects slated for delivery across the DC area over the next few years, check out Pipeline, UrbanTurf’s searchable database of upcoming residential projects. Here are some “quick search” links for your convenience:

• All condos
• All rentals
• DC only: All, Condos, Rentals
• Virginia: All, Condos, Rentals
• Maryland: All, Condos, Rentals
• Currently selling condos
• Currently leasing rentals
• 100 units or less, Over 100 units

This article originally published at https://dc.urbanturf.com/articles/blog/quality_over_quantity_for_new_condos_coming_to_dc_area/4076.