At a glance
- The regional vacancy rate fell 10 basis points to 5.7%, its first quarterly decline in more than a year.
- The open underwriting question is whether deals at $297,800 per unit assume rent recovery or rely on 5.7% vacancy while rents are 0.8% below a year earlier.
- In the District and Suburban Maryland, trades have included smaller and older assets and vacancy has eased for two straight quarters while rents are still falling, Northmarq found.
Washington, D.C., multifamily sales reached $1.8 billion across 16 properties in the third quarter, pushing year-to-date volume above the whole of 2025, according to a Northmarq report cited by Connect CRE.
The regional vacancy rate fell 10 basis points to 5.7%, its first quarterly decline in more than a year. Asking rents were unchanged from the second quarter and 0.8% below a year earlier, and the year-to-date median sale price was $297,800 per unit.
The open underwriting question is whether deals at $297,800 per unit assume rent recovery or rely on 5.7% vacancy while rents are 0.8% below a year earlier.
In the District and Suburban Maryland, trades have included smaller and older assets and vacancy has eased for two straight quarters while rents are still falling, Northmarq found. Northern Virginia rents were nearly flat from a year ago, and the decline in Class A rents has narrowed.
$1.8B of Q3 sales, but rents still 0.8% below last year
Washington, D.C. multifamily: third-quarter sales, vacancy and rents
Reported by the Sectors desk from Connect CRE. Published . Corrections