Washington DC Real Estate Update: Condo sales YTD:
According to a recent report by Rbi, the Washington DC condo market is on fire. The Median Sold price is up by 7.2% for all condos and coops in Washington DC. There are currently only 506 condos/coops for sale in DC which is the lowest level of inventory we have had in 5 years. Condos are selling for closer to list price with the average list prices to sold price ratio at 98.6% which is the highest in five years. And average days on market is down to 45 days.
Year to date, 1036 condos have sold which is a 5 year high.
Fewer condos for sale + many more buyers + lower interest rates + rising rental rates = increasing prices.
Now is a great time to buy a condo in DC.
There are very few new buildings in the pipeline in the next few years (the exception being the extraordinary Residences at City Center), rents are increasing and downtown living in Washington DC is awesome. With more fine dinning option than you can imagine, easy access to the Metro and proximity to all the amazing and free museums of the Smithsonian (and now we even have a grocery store), living downtown is a real option and a great alternative to a long commute. There are some amazing condo buildings like the Clara Barton, 400 Mass Ave, Madrigal Lofts, Mather Studios, and many many more great buildings to live in right in the heart of the city. To search all condos for sale in DC go here.
Our DC team here at Highrises.com are the local condo experts and are ready to help you find your DC high-rise condo. Call them today for personalized services and superior results. 202-559-8999. To start you search for all condos for sale in Penn Quarter, Chinatown, Dupont or any condo in Washington DC click here.
DC is awesome. Live Here.