Housing Complex

Just How Many New Condos Came Onto the Market This Year…

Last Friday, the Washington, DC Economic Partnership released their 2009/2010 Development Report, which will be my go-to guide for project renderings and construction stats until the next edition comes out in roughly a year.

Anyone even vaguely familiar with the local real estate market (or, for that matter, almost any real estate market in the U.S. this year and last) has noticed a slow-down in construction. The big story in D.C. was about condo projects suddenly transforming into apartment projects.

Anyway, here's a clear picture of just how things have changed in the last few years. The numbers represent completed new units in the given year:

Rental Units Home Ownership Condos
2007 2,547 2,586 2,083
2008 2,398 1,681 1,612
2009 (YTD) 2,055 385 235