Luxury condo market in Washington DC

Posted by Abbott Klar Real Estate on Friday, September 6th, 2013 at 4:19pm.


Already condos are breaking records this year for number sold for over $1 Million.   With Georgetown and the West end having the heighest concentration of lxury condos.  But there is clearly a change in the market.  The next hottest market is Logan Circle.

The most expensive condo sold so far this year was 1111 23RD ST NW #PH2B (listed by WFP LLC), in the Ritz Carton,  which sold for $2.9 M.

Here are the sales data for the last 10 years of all condos over $1M sold in DC per year:
2012-75
2011-64
2010-86
2009-59
2008-57
2007-91
2006-73
2005-94
2004-49
2003-21
2002-11
2001-32

It looks it is going to be a record year the Washington DC real estate market for luxury condos.

Article from Yahoo

Many factors are contributing to this: a rise in the local and national economy, decreasing unemployment rates, the desire to live in urban areas, increase in value of real estate, low interest rates (for now) and a general optimism nationwide for a continued economic recovery. 

Also, the amazing new condos at City Center are selling fast!

To search all condos for sale in Washington DC go here.  You can search by neighborhood, or by map.

Contact our local condo experts for an in depth consultation and informative property tour of all condos for sale in Washington DC that match your criteria.  We are the Washington DC Condo experts.

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All sales data from MRIS

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