DC Condo Report

2025

DC CONDO REPORT

INSIDE THE

DC CONDO MARKET Six years ago, we pulled together a deep dive on the D.C. condo market and sent it out as an email to our RLAH agents. It was a bit rough around the edges but packed with useful stats and insights that helped agents have better conversations with their sellers.

Since then, that simple email has evolved into this annual report we release every July. It’s become an important tool for our team, giving us the data and perspective we need to guide clients with clarity and confidence.

At RLAH, we believe in leading with facts, even when that means advising clients to wait or explore renting if the market doesn’t support their goals. We’re committed to staying at the forefront of trends, data, and forward-thinking analysis because it helps our clients make informed, smart decisions.

This year, we’re sharing our report more broadly. The D.C. condo market has its challenges right now, but there are still opportunities for those who understand where things stand.

Inside, you’ll find the data and insights we believe matter most. We hope it helps you and your clients navigate the path ahead with confidence.

If you’d like to talk through anything you see here, don’t hesitate to reach out.

Justin Levitch JUSTIN LEVITCH PRESIDENT M: 469.831.8021 O: 301.653.0643 justin@rlahre.com

DC CONDO MARKET UNITS SOLD YTD THROUGH JUNE

Condo Units Sold YTD 3500 3000 2500

↓2.7%

2000 1500 1000 500 0

2021

2022

2023

2024

2025

Condo and co-op sales in Washington, D.C. are essentially flat year-over-year through June, with 1,474 units sold so far in 2025 compared to 1,515 during the same period last year, a modest 2.7% dip. This signals that demand has not dropped off.

While sales volumes today are nowhere near the levels seen during the post-pandemic boom, it is important to note that the market has largely stabilized over the past couple of years.

The decrease from last year is minimal, indicating that about the same number of condos are selling this year as last year, despite broader market challenges. Although sellers might feel like activity has slowed, especially with more inventory on the market, the reality is that buyer demand has held steady on a year-over-year basis.

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET NEW LISTINGS IN JUNE

New Condo Listings YTD (Through June) 5000

↑7.7%

4000 3000 2000 1000 0

2021

2022

2023

New Listings for the Month

2025

Some might assume that flat condo sales mean there has been a flood of new listings overwhelming the market and creating too many options for buyers. But the data tells a different story.

1000

800

600

Year-to-date through June, new condo listings are up a modest 7.7 percent. And notably, June saw fewer new condo listings come to market than in any June over the past five years.

400

200

0

2024

So, despite steady sales, the market is not dealing with an oversupply. In fact, new inventory remains constrained compared to historical norms.

June 2021

2022

2023

2024

June 2025

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET DOM CONTRIBUTES TO INCREASED INVENTORY

Median Days On Market CITY

JUNE 2021

JUNE 2022

JUNE 2023

JUNE 2024

JUNE 2025

WASHINGTON, D.C.

16

16

19

24

36

Months of Condo/Co-op Supply 8 6 4 2

Ju l Se 20 p 20 N 20 ov 2 2 0 Ja 02 n 0 M 20 ar 21 M 20 ay 2 2 1 Ju 02 1 l Se 20 p 21 N 20 ov 2 1 Ja 20 n 21 M 20 ar 22 M 20 ay 2 2 2 Ju 02 2 l Se 20 p 22 N 20 ov 2 2 Ja 20 2 n 2 M 20 ar 23 M 20 ay 2 2 3 Ju 02 3 l Se 20 p 23 N 20 ov 2 3 Ja 20 n 23 M 20 ar 24 M 20 ay 2 2 4 Ju 02 4 l Se 20 2 p 4 N 20 ov 2 4 Ja 20 n 24 M 20 ar 25 M 20 ay 2 20 5 25

0

Inventory for DC condos is up over 43 percent compared to last May. It is now the highest it has been in the past five years and continues to trend upward. One factor driving this increase is longer days on market.

When homes sit unsold for longer, the market becomes more crowded with listings. June DOM was up 50% Year-over-year.

Although there has been only a modest increase in new supply, the combination of more days on market and flat demand is causing inventory levels to rise significantly.

SOURCE: BRIGHTMLS CHART: SMARTCHARTS

DC CONDO MARKET WHEN CONDOS DON’T SELL

Below is data for all Washington, D.C. condos over the past five Junes that changed status to one of the following: ‘Expired,’ ‘Canceled,’ ‘Withdrawn,’ or ‘Temporary Off Market.’

Below are all property types in Washington, D.C. for the month of June over the past 5 years that were New Active Residential Leases.

New Rentals (all types)

Condo Sale Failures 1000

600

↑13%

550

900

↑68%

800

500 700

450 600

400 500

350

300

400

June 2021

2022

2023

2024

June 2025

300

June 2021

2022

2023

2024

June 2025

More DC condos are failing to sell this year compared to recent years, as shown by the 13% rise in listings that either expired, were canceled, withdrawn, or temporarily taken off the market this June. What’s unique about 2025 is the significant surge in new residential leases, which jumped 68% year-over-year in June.

This sharp rise in rentals highlights how many condo owners who might have sold, have instead chosen to become landlords. Faced with the prospect of lower sale prices or longer days on market, many would-be sellers are opting to rent out their units, adding more inventory to the rental market and underscoring the shifting dynamics of DC’s condo landscape.

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET MEDIAN SOLD PRICES YTD THROUGH JUNE

Change in Median Sales Price 10

5

2

2

2

0 -2

-5 -6

-10

2021

2022

2023

2024

2025

Median sold prices for condos in DC through June are down just under 2 percent so far this year. By contrast, last year they were up 2 percent, and 2023 marked the largest recent drop in condo prices.

It is important to remember that closed median prices reflect only the properties that actually sell, which currently are the best of the best. As noted earlier in the report, there has been a significant increase in unsuccessful attempts to sell DC condos.

So while recorded prices show the median for successful sales down nearly 2 percent, we believe the true median prices are even lower. We expect prices to continue declining as pending sales close, because sellers who need to move and cannot rent will likely have to accept discounts below recent comparable sales.

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET MEDIAN SOLD PRICES & BEDROOM COUNT

BEDROOMS

% CHANGE Q2 YOY

STUDIO (0)

-1.2%

1 BR

-4.7%

2 BR

-.08%

3 BR

+3.31%

This slide highlights how median sold prices for DC condos in the second quarter correlate with bedroom count, revealing meaningful differences across unit types. One-bedroom condos saw the largest decline, down 4.7%, largely due to their higher share of the market and greater sensitivity to shifts in demand.

Studios and two-bedroom units experienced smaller decreases of 1.2% and 0.8% respectively, indicating steadier pricing in those segments. Notably, threebedroom condos bucked the broader trend, rising 3.31% year over year.

Three bedroom units remain rare and cater to a more targeted group of buyers, helping sustain their value despite overall market pressures. The data underscores that condo pricing trends in DC are closely tied to unit size, rather than moving uniformly across the market.

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET PARKING SPACE & ADDED VALUE

1500000

1000000

+$7k (+0.8%)

+$7k (+1.1%)

500000

+$10k (+2.6%)

+$4k (+2.0%)

O ve r$ 1M

$7 50 K– $1 M

0 $3 0 0 K– $5 0 0 K $5 0 0 K– $7 50 K

While condos over $1M show a larger premium for parking, the data indicates that for the majority of the market, parking does not contribute as much additional value as many condo owners might expect. This suggests that while parking remains a desirable feature, its impact on pricing is limited outside the luxury segment.

With Parking +$424k (+33.2%)

$3 0 0 K

However, the price premium is generally modest across most price ranges, typically adding only 1% to 3% to the sale price.

No Parking

U nd er

An analysis of Washington, DC condo sales from January through June 2025 shows that properties with at least one parking space consistently sell for higher prices than those without.

SOURCE: BRIGHTMLS CHART: RLAH

DC CONDO MARKET WHAT DC CONDO SELLERS SHOULD KNOW

TAKEAWAYS There’s been over a 30% increase in active listings compared to this time last year.

Days on market (DOM) has increased 50% from last year.

Prices are slightly down through the year for the units that actually sell.

The rental market is being flooded with would-be sellers choosing instead to become landlords.

Demand has remained flat overall.

The same number of condos are selling this year, but buyers are being more selective.

A condo needs to be the “best deal available” to attract offers.

Condo buyers are heavily focused on monthly payments: Incentives like pre-paid condo fees or mortgage rate buy-downs can help make a sale.

Forward-looking pricing suggests listing below comps from the previous 6 months to stay competitive.

Units with parking often sell faster and for higher prices.

Three-bedroom units are performing better than smaller condos.

Higher floors often attract buyers due to better views and reduced street noise, though this varies by building and neighborhood.

Neighborhood matters, pricing and buyer preferences can shift block by block.

HAVE QUESTIONS OR IDEAS? Did this report spark ideas for other stats you’d like to see?

Are you curious about trends in a specific neighborhood or condo type that we didn’t cover here?

Our goal is to help you think strategically about the market so you can stay ahead of the curve. If there’s anything you’d like us to dig into, email us anytime at info@RLAHRE.com.

We love the challenge and are here to help.

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