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 http://dc.urbanturf.com/articles/blog/the-dc-area-new-condo-market-by-the-numbers/18880
Most Popular... This Week • Last 30 Days • Ever
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Another development is moving forward spitting distance from another entrance of the ... read »
The outpost will bring some of Sandlot's successful partnerships and experiences to a... read »
With 2021 in the rearview mirror, UrbanTurf breaks down a series of numbers that prov... read »
A look at the close-in cities in Maryland and Virginia with the lowest supply of home... read »
UrbanTurf is re-running its primer on property taxes which outlines a few things that... read »
After two years of market forces left this neighborhood nearly unrecognizable, signs ... read »
The Shaw pipeline is starting the year off hot.... read »
The upzoning would mandate additional Inclusionary Zoning units for developments alon... read »
Is U Street regaining steam as the development center of gravity in the neighborhood?... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... 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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro