Home | Newsletter | Advertise
loading...

The DC-Area New Condo Market, By the Numbers

  • February 7th 2022

by Nena Perry-Brown

✉️ Want to forward this article? Click here.

MUSE, a new condo project in Northern Virginia. 

A new report from Delta Associates about the new condo market in the DC region finds that Northern Virginia continued to lead the way in 2021. Interestingly, although price growth was tepid last year, there were two submarkets where the average price per square foot exceeded $1,000: Upper Northwest and Central DC, which overtook the former to become the most expensive local neighborhood for new condos.

Below, UrbanTurf picks out some of the more interesting stats observed in the local new condo market last quarter: 

  • 13.5 — The months of new condo supply available in the region in December 2021, a 2.4-months year-over-year drop.
  • 1,634 — The number of new condo sales in 2021, down from 1,652 in 2020.
  • 358 — The number of new condo sales in the Fairfax/Falls Church submarket in 2021, the most areawide. Loudoun County/Prince William came in second with 268 sales, just edging out DC's Capitol East submarket (267).
  • 15% — The year-over-year drop in contract sales in DC proper in 2021; contract sales were at their lowest level since 2011.
  • 1.2% — The rise for new condo prices in DC in 2021; areawide, new unit prices rose by 0.3%.
  • 1,046 — The number of new condos expected to deliver in 2022; there were 1,975 estimated deliveries in 2021.
  • 1,249 — The number of new condos expected to break ground in 2022; approximately 1,596 units broke ground in 2021.

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the-dc-area-new-condo-market-by-the-numbers/19240.

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

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse