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.
- 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.
- 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.