Three New Areas of Emerging Opportunity in D.C.’s Real Estate Market
Two weeks ago, we looked at a few new areas of opportunity within Washington D.C.’s real estate market. Since then, a handful of promising new areas of opportunity in our commercial and residential markets has emerged. Let’s take a look at them in greater depth.
- Washingtonian recently reported on the 15 neighborhoods they feel will undergo the most dramatic change—and see the largest price jumps—over the next couple of decades. The neighborhoods they identified as primed to see big increases in prices, where prices are currently the lowest, are Rockville Pike (which is in the middle of replacing its “strip malls and vacant property” with “town centers and a pedestrian-friendly streetscape”), Merrifield (due to a combination of the recently-developed Mosaic district, and the upcoming Inova Health System’s campus), and Crystal City (as JBG Smith has recently “declared the neighborhood’s reawakening to be a top priority”).
- Despite new condo sales declining slightly over the past year, the market is still strong, and is particularly strong in certain pockets of opportunity. As Urbanturf recently noted, the majority (64%) of new condo sales in D.C. last quarter occurring with the Capitol East submarket. They note that condo prices in this submarket have also grown much faster (43.% year-over-year) than any other submarket in the entire D.C. metro.
- In the commercial market, BisNow explored the many changes occurring within Southwest D.C. due to the launch of The Wharf, Audi Field, among other new amenities. Following these developments going online, the Southwest has exploded in popularity within both residents and visitors. In particular, the article notes a boom in demand for and development of high-rate hotels and high-rent apartments in the market.
Each of these markets represents a unique opportunity for investors in D.C.’s residential and commercial real estate market. Contact us today to learn which offers the greatest potential return for your investment—and which areas of high opportunity have not yet been found by these publications. Call us at (202) 713-9072 or email us at firstname.lastname@example.org.