Washington, DC | September 7, 2021
McWilliams|Ballard has released its 2021 Mid-Year Condominium Market Report for the Washington Metropolitan Area. The report is a comprehensive analysis of the new and resale condominium marketplace in the Greater Washington Area for the first two quarters of 2021.
The report illustrates the Washington Metro Area’s condominium new market continues to rebound from the effects of the COVID-19 pandemic, rising 17% year over year in the first half of 2021. McWilliams|Ballard anticipates, based on recent shares of new sales in the first half of the year, that 2021 will end with a total number of new sales similar to 2019’s and in line with the 10-year average. Condominium resale quantity surged 58% relative to the first half of 2020 and 30% over 2019. This increased volume came with a 7% increase in average resale price and only 4-day increase in average days on market. Increases in both new and resale condominium sales show demand for the product and low-maintenance lifestyle in prime locations are here to stay.
For your own copy of the McWilliams|Ballard 2021 Mid-Year report, please visit www.mcwb.com/services.
McWilliams|Ballard, based in Alexandria, Virginia, is the leading real estate sales and marketing firm specializing in the sales and marketing of new condominiums, apartments, townhomes and mixed-use communities. During its 24-year history, McWilliams|Ballard has worked in 13 states nationwide, creating partnerships with developers and builders to provide sales and marketing solutions from project inception to the final closed sale. In addition, the firm also provides consultation and market research used by some of the most renowned developers and investment groups in the country.