Washington, DC | August 11, 2020
McWilliams|Ballard has released its 2020 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 2020.
The report confirms that the strong fundamentals of the Washington Metro Area and tight supply have insulated the condominium market during the ongoing COVID-19 Pandemic. With increased traffic and sales beginning in May and June, the new housing market is expected to rebound into the second half of the year with a projected decline of only 4% in new sales relative to 2019. Additionally, resale prices have seen a 3.8% increase and the average days on market declined by 14 days.
For your own copy of the McWilliams|Ballard 2020 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, apartment, 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.