New condo construction is slow to return

Few large projects are in the works, most are small-scale conversions New condo construction has been at a standstill over the past two years and even with inventory dwindling, recent data show a decrease in the number of new projects in the pipeline.

Check the condo fees

In a slowly recovering economy, condo fees concern area buyers.

“Buyers are interested in keeping condo fees in check, which means streamlined amenities,” said Lynn Hackney, president of Urban Pace Realty.

Buyers need to ask themselves how often they will use the pool or the workout room.

“Amenities are overrated,” she said. “People are budget-conscious. Two new condos in Arlington, the Phoenix and the Residences at Liberty Center, have high condo fees and this is a drawback.”

Some existing projects have restarted in Arlington and in Washington where lots are being flattened and ground broken along 14th Street Northwest. But many experts say there will likely be a shortage of condominiums in the Washington area in the future.