Скачать или смотреть Huge Condo Appreciation: 2024 Mid-Year Review

The Arlington condo market had a historically strong first half of the year with the average price up 13.6% including appreciation of two-bedroom condos of 14.1% and one-bedroom condos by 6%. The condo market is normally pretty flat so even appreciation of 3-5% in a year is significant, so seeing double-digit appreciation is quite remarkable.

This wasn't a total surprise because heading into this year, demand metrics and low inventory suggested upward pressure on pricing, plus I expected 2023 holdout buyers to rejoin the market in 2024 and buyers who were priced out of the townhouse/single-family market to look at condo ownership.

Looking ahead, I expect prices to hold steady in the second half of the year and increase again in the first half of 2025.

For charts, data, and more commentary check out this week's #AskEli column.

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