New Condo Supply in DC Area On The Rise
✉️ Want to forward this article? Click here.
1055 High
For the last 18 months, reports have been coming out regarding the chronically low inventory of homes for sale in the DC area. It now appears that the supply is increasing, at least for one property segment.
The number of unsold condo units in new projects or those under construction (and not yet marketing) rose to 3,308 in the DC area by the end of 2013, an increase of 1,000 units from the third quarter when the new condo supply hit its lowest level in a decade. Additionally, 1,853 units are planned to start sales within the next 36 months. These numbers were published in a report out from real estate research firm Delta Associates on Monday.
Still, the inventory of new condo product varies greatly depending on sub-market. For example, in central and upper NW DC proper, there is a 4.2-month supply (and far less in certain neighborhoods), according to the report. However, in Arlington/Alexandra, there is about a 20-month supply, and in Prince George’s County close to a 50-month supply.
From the Delta report:
Most of the District remains supply-constrained over the short run; however, over the next 36 months, supply and demand is estimated to be in balance, while shortages are expected in the suburbs . We estimate that over 1,500 units will come to market during the next 36 months after taking into account attrition.
Following are a few more findings from the report:
- In 2005, the average number of units in a new or converting condo project was 93. Today, the average number of units in a new development has dropped to 41.
- The average effective price per square foot for new condo sales in the DC area rose by 5.7 percent in 2013, the strongest annual price growth since 2005.
- Delta Associates has identified 19 Class A 80-150-unit apartment projects that are under construction (a total of 1,948 units) that could convert to condos.
The rendering of the condo project pictured above is called 1055 High and will be located in Georgetown.
See other articles related to: dc condo inventory, dc condo market, dclofts
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/new_condo_supply_in_dc_area_on_the_rise/7961.
UrbanTurf Listings showcases the DC metro area's best properties available for sale.
Most Popular... This Week • Last 30 Days • Ever
The all-cash trend in DC's housing market is maintaining its momentum in 2026.... read »
In this article, we will delve into what mortgage recasting entails and how it works.... read »
One of the more unusual properties in the District is the latest downtown conversion ... read »
If you drive through downtown Bethesda, it seems like there is a new project going up... read »
The market wrapped up the last week with a handful of numbers that paint a nuanced pi... read »
- 1 In 4 DC Homebuyers Paying All Cash In 2026
- What Does It Mean to Recast Your Mortgage?
- The DC Building With a Highway Running Through It Just Sold And The New Owner Is Thinking Conversion
- The Bethesda Building Boom: One Neighborhood, 16 Projects and 6,500 Units
- What A Week Of Data Tells Us About The DC-Area Housing Market
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
