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Report: 2.4 Years of New Condo Supply in DC Area

  • July 5th 2011

by UrbanTurf Staff

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Report: 2.4 Years of New Condo Supply in DC Area: Figure 1

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 http://dc.urbanturf.production.logicbrush.com/articles/blog/report_2.4_years_of_new_condo_supply_in_dc_area/3758.

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