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[quote=Anonymous][quote=Anonymous][quote=Anonymous]I'm worried. There's a new-ish condo near me (in DC) that is listed for $15k less than the owners paid in 2018. Here's the sales history:
2018 - Sold for 730
2022 - Sold for 789
2025 - Listed at 730, dropped to 715 and sitting.[/quote]

This has been happening with DC condos for awhile now.

The main problem is that with current high interest rates and high HOA fees, the monthly cost for a condo bought now is often significantly more than renting an identical unit from an existing owner in the same building. The math

The other issue I see - and it’s evident in the example you gave - is many people buy DC condos and then sell ~2, 3 or 4 years later. You can get lucky with timing, but in general condos don’t appreciate enough to make it a smart decision to buy&sell so rapidly. I think people get into condos thinking they’ll live there for awhile, but then they often don’t.[/quote]

+1 when interest rates were lower your monthly payment including condo fee could be similar to a rental and you'd be building equity even if there wasn't much appreciation. Of course, for a long time there have been some buildings that are in a death spiral with deferred maintenance costs that made the condo fees way to high to make buying worthwhile[/quote]

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