{ "media_type": "text", "post_content": "What’s the housing/condo market like in DC right now? Buyers vs sellers? Looking for something in DC with preference for DuPont/Admo/shaw/mt vernon area and Chevy chase MD if need be. Budget is 900k.", "post_id": "61b551a796d5df002632c82a", "reply_count": 13, "vote_count": 4, "bowl_id": "58f80c1c753e9900166088cc", "bowl_name": "Washington, DC", "feed_type": "bowl" }

What’s the housing/condo market like in DC right now? Buyers vs sellers? Looking for something in DC with preference for DuPont/Admo/shaw/mt vernon area and Chevy chase MD if need be. Budget is 900k.

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I’d stay away from the condo market if you can unless it’s necessitated by price/budget. Condos overall don’t tend to appreciate well in DC and a lot of folks actually lose $ and sell for less than bought or just about break even. That said you can get a great deal because there just isn’t the demand for them and they sit on the market. If you Google a bit you can find the trends / data (as I’m sure you know working at Google😂). Housing is extremely tight / competitive for SFH in NW and at $900K will be basically impossible unless you cast a wider neighborhood/area net or increase your budget.

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For DC, that should be more than plenty for a decent unit. There’s a bunch that have been on the market for a while so it’s a buyers market in DC for condos specifically. You shouldn’t see bidding wars in most cases. DC also has a bunch of rowhouses split into 2/3 “condos” so it’s a nice blend of the perks of condo living (fees cover lawn, upkeep, etc) with the “feel” of a SFH. HOAs will be much lower as a result too. If you cast a wider net for housing you can get a house for that price in NOVA or North Bethesda, Rockville, etc.

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Neighborhood-wise, it really depends on what you’re into. Suggest doing a lot of current event research and walking thru each hood. We left Shaw for NoVA last year due to the pandemic and civil issues. We were basically tired of walking the dog thru broken patron bottles from daily block parties, on top of nearby drive-by shootings every couple weeks. The homeless tent cities have also been on the rise since. Parking enforcement has recovered, but the police force in total has not. Overall, that money should get you a decent single unit pending size and amenities; or parking. Separate of that, interest rates are now going back up with the Feds announcement. The market is nothing like what it was the beginning of this year where every home was a bid-war and you had to waive everything. It could be another 2-3 years before it levels out. In the great areas of Alexandria, you can’t find anything under $1M for a family home. Best of luck.

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I’ve written this elsewhere too, but I bought a place in MVT and love the units out here. Agee that you’re not going to see the same level of appreciation as a rowhouse or outside DC, but if you’re looking for a nice unit in a new building $900K will take you quite far. I’m building equity in my 1BR and would expect to turn it at a profit, even with renovations, etc. Also I’ll note that in a number of these newer buildings your HOA will cover all utilities + internet and covered parking, which equates to $400/month in costs you’d incur otherwise.

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<$480K for a loft in a building that’s about 10 years old. I’d also recommend checking out the buildings that are just coming up around 4th st expected to be completed in the next year or so. If you can find out the builder / get more info on materials, etc., you can get in early and grab an awesome unit in a great building.

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You can def buy a place with $900k. With that, you can get two acres and a 4,000sqft house in the Churchill school district (md)

If you get a condo, I'd suggest buying a top floor unit with outdoor space (ideally private rooftop deck) in a brand new boutique building with no doorman/concierge built by a reputable developer. These types of units have seen good appreciation.

Any examples?

There is a rowhome on my block in Mt Vernon Square for 850k. Been on the market for a while so they would probably take a deal.

I’ll dm it to you

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