What's Hot: A (Slight) Price Drop For Dianne Feinstein's DC Home | The Plans For a 68-Unit Condo/Townhouse Project in Downtown Bethesda
Report: 2.4 Years of New Condo Supply in DC Area
Local real estate research and consulting firm Delta Associates published its mid-year 2011 report on the market for new condos across the DC metro area. Following are a few of the key findings from the report:
- The aggregate number of new condo sales across the DC metropolitan area in the second quarter of this year was 369. Also, the 12 months ending June 2011 saw 43 percent less sales than the same period the year before.
- New condo prices have dipped 2.4 percent across the DC area on average, but certain pockets have actually seen increases, including Central DC (up 1.8 percent) and Montgomery County (up 0.8 percent).
- The number of unsold new condos across the area stands at 3,629, which is 2.4 years of supply at the current sales pace, according to Delta. This is a dramatic decline from four years ago, when the area’s inventory of new condos was near 20,000 (see graph above).
See other articles related to: dc condo market, dclofts, delta associates
This article originally published at https://dc.urbanturf.com/articles/blog/report_2.4_years_of_new_condo_supply_in_dc_area/3758.
Most Popular... This Week • Last 30 Days • Ever
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... read »
DC Real Estate Guides
Short guides to navigating the DC-area real estate market
We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro