Is It a Good Time to Buy a Condo in Washington DC?

If you’ve been thinking about buying a condo in Washington DC, now might be one of the best opportunities in years. Unless you see the DC economy heading toward a serious downturn, today’s market conditions are giving buyers a rare advantage with historically low prices and plenty of inventory to choose from.

DC Condo Market Hits a 10-Year Low

Condo prices in DC have dropped to levels we haven’t seen in over a decade. In Aug 2025, the average asking price came in at $495,000, The lowest in more than 10 years. For context, the last time prices hit a low point was August 2016, when the average asking price was $583,000, which is about 17.6% higher than what buyers are seeing today.

Median prices tell a similar story. In July 2025, the median asking price for condos was $450,000. That’s almost identical to the $435,000 median from August 2015 meaning buyers are essentially paying 2015 prices in today’s market.

The bottom line: condo shoppers in DC right now have a unique chance to secure properties at values not seen in over a decade.

More Options for Buyers

One of the biggest advantages for condo shoppers right now is the sheer number of choices on the market. The DC condo inventory is nearly three times higher than the 10-year average, which is something we haven’t seen in years.

For buyers, this means:

• It’s easier to find a condo that truly fits your needs

• Sellers are more open to negotiation

• Motivated sellers may be willing to strike better deals

Pro tip: With so much inventory available, buyers hold more bargaining power than usual.

High Days on Market = Strong Buyer Leverage

When condos sit on the market longer, buyers gain significant leverage. And right now, many DC condos are lingering well past the usual timeframe:

• Average time on market: 113 days

• Median time on market: 82 days

• 81% of condos have been listed for more than 30 days

• 41% have been sitting for over 100 days

This gives buyers a major edge in negotiations. On average, condos that stay on the market 31–60 days sell for about 5.7% below the asking price, while those sitting 61–90 days often sell for 7.6% below asking.

What this means for you: The longer a property has been listed, the more likely you are to secure a deal well under the asking price.

Don’t Overlook DC Tenant-Landlord Laws

Washington DC is a tenant-friendly city, so landlords must comply with strict regulations. If you plan to invest in rental property, understanding DC landlord-tenant laws is essential.

For guidance, connect with Raquel Gutierrez, a local property management expert:

• Phone: (516) 476-3416

• Email: Raquel@raquelrealtour.com

She can advise on DC property management, rental markets, and landlord-tenant laws.

Why Now is a Smart Time to Buy in DC

• Lowest condo prices in over 10 years

• High inventory gives buyers more options

• Properties sitting longer provide strong negotiation leverage

Whether you’re a first-time buyer, investor, or looking to upgrade your home, now could be the perfect time to enter the Washington DC condo market.

For personalized advice on buying, selling, or investing in DC real estate, reach out to RaquelRealtour at RaquelRealtour.com.