Delta Associates, a real-estate research firm in Alexandria, just released its mid-year 2007 Condominium Market Report. The quarterly is chock-full of analysis of condo market sales, prices, and projects in the pipeline.
After a few years of a condo sales slowdown, Delta Associates sees some positive trends. The report shows that sales volume and prices for new condos are holding steady—sales volume in the second quarter of 2007 was the same as the first quarter, when the numbers increased from the second half of 2006.
According to Delta, the report’s findings offer “hope that we will see supply/demand balance by late this year or early next.”
These three charts provide a good longterm view of the boom and falloff in the condo market: