The new condo market in the DC region has been steadily rebounding over the last year from the initial effects of the pandemic in 2020. A new report from Delta Associates finds that sales rose in the District in the third quarter, but slowed in suburban Maryland. As has been the case for the last few quarters, Northern Virginia still leads the region on the sales and new construction fronts.
Below, UrbanTurf plucked out several of the more interesting stats from the new condo market right now.
- 1,582 -- The number of new condos that sold in the DC area in the last 12 months, a 3% increase compared to the previous 12 months.
- 1,507 -- The number of new condos that are expected to start construction in the region this year.
- $176 -- The average price per square foot for a new condo in Prince George's County.
- $565 -- The average price per square foot for a new condo in Montgomery County.
- $950 -- The average price per square foot for a new condo in upper NW DC.
- 1% -- The increase in prices for new condos in the region over the last 12 months.
- 15 -- The months of new condo supply in the region in the fourth quarter of 2021.
This article originally published at https://dc.urbanturf.com/articles/blog/the-dc-area-new-condo-market-by-the-numbers/18880.
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