We aren’t about to wade into that debate, but we do have plenty of intel on how the district’s booming new home market is doing. Using our handy Market Snapshot tool, we’ve dug up a list of factoids you may not have known about the boom in new construction homes in Washington.
1. There are currently 7,356 new homes currently being built in DC, 87 percent of which are condos.
Photo: Elvert Barnes/Flickr
2. Of the new condos currently on the market, the highest amount, or 32 percent, are one-bedroom units. The median size of a one-bedroom suite is 645-square feet, while their median price is $429,900.
3. The most expensive new home currently on the market in DC is a four-bedroom, $1,850,000 townhouse in a development called The Maples, located at 619 D Street Southeast (rendering below). The second most expensive new home is part of that same project and comes with three bedrooms and a $1,500,000 price tag. The development’s other claim to fame? The existing structure that’s being converted into multiple homes is Capitol Hill’s oldest residence. Plus the project’s website has a wonderfully ridiculous timeline (1895 – Francis Scott Key buys The Maples a year after writing the Star Spangled Banner; 2014 – You buy a condo at The Maples after realizing “Don’t Stop Believin” shouldn’t still be your personal anthem).
4. The Maples is located in Northeast Washington, where the median price for a new house/townhome is $749,069.
5. Northeast Washington currently has 2,137 new homes under construction. That’s more than Southeast Washington, which currently has 1,839 units being built and Southwest Washington which has no new units under construction currently. However, Northwest Washington trumps them all with 3,380 currently under construction.
6. About 45 percent of the condos currently for sale in Northwest Washington are two-bedroom units. That’s quite the difference from Northeast Washington, where 28 percent are two-bedroom suites.
7. The building boom won’t end soon. There are currently 2,746 units scheduled for completion for 2015.
Photo: Ron Cogswell/Flickr
Data pulled from BuzzBuzzHome database October 15 and subject to change.