January 9, 2006

Morning Flash

CONDO TSUNAMI: About 51,400 condos were being planned or marketed in DC, VA, MD for delivery within the next three years, Delta Associates found. This wave of units is up from 39,000 three months earlier.

Much of the growth is coming in suburban MD, where several projects are underway in PG County. About 17,400 units will be built in Maryland or converted from rentals into condominiums, by Delta's count.

The pace of new condominium development is slowing somewhat in NOVA, although it makes up the biggest share of the region's condo market, with about 24,000 units being readied for sale within the next three years.

About 9,900 units are being built or marketed in DC.

In 2005, 13,698 new condo units were sold in the area, up from 9,108 in 2004, Delta said. Sales were particularly brisk in the fourth quarter of 2005, when 3,541 new condos were sold, up from 2,394 in the comparable quarter in 2004.

One Liners

DONT LET THIS HAPPEN TO YOU. Suburbanites regret move to suburbs, even in fancy shmancy Bethesda.

A BRIEF HISTORY of allies in D.C.

BUZZ. BUZZ. BUZZ. Walnut Street Development narrowed its selection to two firms to help plan the development of a now vacant half-acre lot it owns at Buzzard's Point in Southwest Washington close to the proposed baseball stadium site.

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