I held two open houses this past weekend at two new to market condos. I had one visitor.
One. That is not normal for the kickoff to the second busiest season of the year. And it tells you something.
Let me be direct with you about what's happening in DC right now, because the market data — and the headlines — deserve more than a spin. The New York Post ran a piece earlier this month with the headline "Nobody Wants to Live in Washington DC." Bloomberg and Brookings have weighed in. Bright MLS put out numbers that would have been unthinkable three years ago. The narrative is bleak, and honestly? Parts of it are true.
But "the market is soft" isn't the whole story. And if you're a buyer sitting on the sidelines waiting for clarity, you may be waiting yourself right out of the best window you'll get.
Here's what's actually happening — by market segment.
The Condo Market: The Most Buyer-Friendly It's Been in a Decade
This is where the story gets genuinely striking. Available condo listings across the DC area are up 28% year-over-year. Supply currently sits at 4.3 months — more than double the supply of single-family homes. Condo prices have slid 5.7% compared to last year, with the median now at $386,500.
Think about that: a product class that was virtually impossible to negotiate on two years ago is now sitting. And sitting. I held four hours of open houses last weekend across two condos and met one person.
The WTOP data puts an even finer point on it: of roughly 500–600 studio and one-bedroom condos currently listed in DC, only 13% are under contract. That means nearly 9 in 10 condo sellers are waiting for a buyer — any buyer — to show up. Sellers who listed at a number they believed in are now adjusting. Some are being forced to accept offers well below what they expected when they signed the listing agreement.
If you've been priced out of the condo market, or assumed you'd have to waive contingencies and compete with five other offers, that world is gone right now. You can ask for an inspection. You can ask for closing cost help. You can negotiate. In some buildings, you can negotiate hard.
The window for this is real, but it won't stay open forever. The moment rates ease — and they will — buyers flood back, competition returns, and prices follow. The buyers who move while the room is empty are the ones who come out ahead.
The Single-Family Home Market: Soft, But Not a Fire Sale
The detached home market in DC is a different animal. Prices are essentially flat year-over-year — not crashing, not surging. The overall DC area median sale price is $640,000, up a modest 2.4% from last year, but that headline number is almost entirely propped up by single-family and attached homes. Detached home prices have held at roughly $835,000.
What has changed in the SFH market: homes are sitting longer. Days on market have climbed meaningfully from last year. New pending sales are down 11.5% region-wide. The frenzied, waive-everything, above-ask-by-$100K environment of 2021–2022 is over. Sellers know it, even if some are still pricing like it isn't.
That matters for you as a buyer because the power dynamic has shifted. Contingencies are back on the table. Sellers are more willing to negotiate on price, terms, and repairs than they've been in years. You're not necessarily getting a deal on a rowhouse in Logan Circle or a four-bedroom in Petworth, but you're buying with your eyes open, with protections in place, and without a gun to your head.
In a market this uncertain, that's worth more than people realize.
The Luxury Market: Playing an Entirely Different Game
If your budget is north of $1.9 million, I'll tell you plainly: you are not in a buyer's market. The luxury segment in DC is doing something remarkable — it's thriving right alongside the broader market's struggles.
Luxury sales in the DC region jumped 4.5% in Q2, while new luxury listings fell 13%. That combination — rising demand, shrinking supply — pushed the threshold for what counts as a luxury sale to $1.9 million, up 5.6% from a year ago. Luxury homes in DC are spending a median of eight days on the market. In Q1 this year, 30% of luxury properties sold above list price.
The takeaway here isn't that luxury buyers are foolish. It's that buyers at that level understand something the hesitant middle-market buyer doesn't: DC is a capital city. Its relevance doesn't go away with one administration. The institutions, the embassies, the think tanks, the hospitals, the universities — they don't evaporate. Scarcity at the top end is structural. And people who understand scarcity act when the right property comes available.
Why Buyers Are Hesitating — and Why That's Your Opportunity
The reasons buyers are sitting out are understandable. Mortgage rates near 7% hurt. The political and economic uncertainty around DC — federal layoffs, DOGE cuts, government contraction — has shaken confidence. And the headlines aren't helping.
But here's the honest counterargument:
You can refinance later. You cannot buy at a lower price later.
The buyers who are waiting for rates to drop before they act are making a rational-feeling but potentially costly mistake. When rates ease, everyone comes back at once. Competition spikes. Prices adjust. The negotiating leverage you have right now — the ability to ask for an inspection contingency, a financing contingency, a seller credit, a price reduction — that all evaporates the moment the room fills back up.
Right now, the room is empty. I have data to prove it.
What Working With Me Actually Looks Like
I'm not going to pitch you into something that doesn't make sense. My job is to be a resource, not a pressure. Here's what I bring to the table:
Before you write an offer:
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A real conversation about your needs, your timeline, and your budget — not a sales call
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A Comparative Market Analysis on any property you're serious about, so you know what it's actually worth before you offer
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Access to private, exclusive off-market listings through Compass and their affiliate network — properties that never hit the public MLS
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Off-market opportunities through Redfin that most buyers never see
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A setup on Zenlist, a platform where we can both search, save, and comment on listings together in real time — no endless email threads
When you're ready to move:
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Offer preparation and negotiation strategy — I'll tell you what the market will support and how to position yourself to win without overpaying
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Contingency guidance — what to include, what to waive, and what the real risk is in either direction
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Lender introductions if you need them; I work with local lending partners who know this market and can move fast
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Full coordination from contract through closing: home inspection scheduling and attendance, title search, appraisal coordination, attorney review, document management, mortgage follow-up — all of it
Through closing and after:
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I attend the final walk-through. I attend the closing. I'm there.
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Post-closing support: utilities, move-in questions, whatever comes up
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A relationship, not a transaction. I check in after you're in.
The cost to hire me as your buyer's agent: $0. The only fee is a $495 brokerage fee to RLAH @properties, paid at closing and only if we close. In 99% of deals, I'm paid by the seller. In the rare case where that's different, you'll know before you commit to anything.
The Bottom Line
The DC condo market is the most negotiable it's been in years. The single-family market has cooled enough to give buyers meaningful protections and leverage. The luxury market remains competitive for those who are positioned to play there. And across all three segments, the buyers who are hesitating are creating a window for the buyers who aren't.
I held two open houses last weekend. One visitor walked through.
That visitor is getting more than they probably expected.
Ready to talk? Coffee, video call, phone, text, email — whatever works. When is a good time?
Eric Nielsen RLAH | @properties 571.263.5006 | eric@ericsellsdc.com | ericsellsdc.com
Eric Nielsen is a Washington, DC real estate agent with RLAH | @properties. He works with buyers and sellers across the city — from Bloomingdale and Shaw to Logan Circle, Dupont, and beyond. Before real estate, Eric spent more than two decades as a direct response copywriter and creative strategist, helping nonprofits and advocacy organizations raise money and make cases. He brought the same instincts to real estate: cut through the noise, tell you what's actually true, and help you make a smart decision.
Find him at ericsellsdc.com or eric@ericsellsdc.com.
