Condo Popularity

The bar graph below shows the relative popularity of condos compared to detached homes. Condos had become twice as popular by 2019, but that changed quickly with the 2020 pandemic-induced work habits.

Being very unhappy with existing real estate reports, I began extracting my own data and writing reports to help my clients so long ago, they had to be delivered by U.S. mail. 2020’s disruptions were unprecedented, and many folks who could work at home, began moving out of the city. As a fellow Eclipse owner, I decided to check it out, and found "the market" perceived Arlington as part of DC!

Even though our local market remained healthy, Eclipse units experienced downward pressure on their values. The number of our units for sale increased, as did days on the market. My monthly report has been issued on the first of the month for about three decades, but a new Eclipse report is now available on the 2nd of each month. In 2022 the market began improving for Arlington, and for condos in general.

Condos have not been more popular than detached homes forever. About 15 years ago, a reporter for a local paper (possibly the Reston Times) asked me to comment on a story she was writing about condo UN-popularity. I had been noticing the opposite in my data for a few years, and by the end of our conversation, the article ended up citing the new trend in condo popularity.

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YFiRE
Your Friend in Real Estate, LLC
Arlington, Virginia, USA