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The 2020 New Condo Market, By the Numbers

  • August 21st 2020

by Nena Perry-Brown

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The DC-area for-sale housing market has been relatively resilient despite the economic impacts of the pandemic, so we were curious as to how the new condo market is faring. 

A new report by condo sales and marketing firm McWilliams|Ballard zeroes in on how this year's market is faring. Below, UrbanTurf picks out some of the more interesting data points from the report.

  • 8% — The year-over-year drop in new condo sales in the DC region between the first half of 2019 and the first half of 2020.
  • 3% — The drop in new condo sales in DC proper; the 656 sales in the city account for 51% of the new condos sold areawide in 2020.
  • 0.4% — The expected 2020 year-end increase above the 10-year average for new condo sales areawide.
Month-to-month change in sales and traffic at McWB. Click to enlarge.
  • 50% — The approximate decrease in sales and traffic for new condos in the McWilliams|Ballard portfolio between March and April.
  • 109% — The increase in sales of new condos in the McWilliams|Ballard portfolio between May and June.
  • 60% — The year-over-year increase in new condo sales in Arlington County, which had the most year-over-year growth in this sector of the market.
  • 67% — The year-over-year drop in new condo sales in Prince George's County, which had the greatest year-over-year decline in this sector of the market due to lack of supply.
Annual new condo sales areawide and 10-year average. Click to enlarge.
  • 2.9 years — The new condo supply areawide that is currently in the pipeline and hasn't begun sales yet. 
  • 2,111 — The number of new condo units in the pipeline, not yet selling, in DC proper. Areawide, there are 7,355 new condo units in the pipeline.

Thumbnail rendering of 1625 Eckington. 

This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/the-early-2020-dc-area-new-condo-market-by-the-numbers/17220.

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