NoMa DC Housing Market Guide: Prices & Trends

Are you trying to make sense of condo and townhome prices in NoMa? You are not alone. With new towers delivering and listings shifting week to week, it can be hard to tell if now is the moment to buy or rent. In this guide, you will learn the key indicators to watch, how to interpret them in NoMa’s unique, transit-oriented market, and how to build clean comps so you can act with confidence. Let’s dive in.

NoMa at a glance

NoMa sits just north of Union Station and the U.S. Capitol. It is a high-density, mixed-use neighborhood with condo and rental towers, mid-rise buildings, and a smaller number of townhomes. The area is highly connected to Metro and commuter lines, which draws steady housing demand.

Most for-sale options are condominiums. Townhomes inside the core are less common and often trade at a premium on a per-home basis because of private outdoor space and separate entrances. New construction is a constant factor and can influence resale pricing nearby.

What to watch: key metrics

Tracking a few core numbers will give you a clear read on prices and leverage. Aim to look at current-period data and a 12-month trend for context.

Median price and price per square foot

• Follow median sold price for condos and townhomes separately. Different product types move differently in NoMa.
• Use price per square foot as a starting point, not the finish line. Amenities, view, floor level, and parking can swing value meaningfully.

Days on market (DOM)

• Short DOM, roughly under 30 days, can signal strong demand or sharp pricing.
• Longer DOM may point to buyer leverage or overpricing. In NoMa, new-project closings can temporarily lengthen DOM in some segments.

Months of supply

This metric compares active inventory to the pace of recent sales. It is one of the best signals of who has leverage.

• Under 4 months is generally a seller’s market.
• Four to 6 months is balanced.
• Over 6 months is a buyer’s market.

Because NoMa sees concentrated development, a single tower’s delivery can push months of supply up for a quarter, then normalize again.

Sale-to-list ratio

• Above 100 percent often indicates multiple offers and aggressive pricing.
• Below 98 percent suggests negotiation room.

Condo fees and assessments

Condo fees matter for affordability. Compare what is included, such as utilities, internet, amenities, and building services. Higher fees can be justified by robust amenities, but they still affect your monthly carrying costs and your lender’s approval.

Condos vs. townhomes in NoMa

Condos: what to know

• Review the building’s reserve status and any planned assessments.
• Ask about rental policies or caps if you are considering renting the unit later. Investor activity in the area can influence price volatility.
• Check what parking and storage cost if sold separately. In many buildings, garage parking is a material value add.

Townhomes: low volume, premium pricing

• There are fewer townhomes in the NoMa core, so the sample size is thin. Use a 12-month window for comps and be cautious about over-weighting a single outlier sale.
• Expect premiums for renovated homes, private outdoor space, and parking. Because there are fewer direct comps, adjust with care.

New-build pipeline matters

NoMa’s short-term pricing often tracks the new-build pipeline. When a larger project starts closings, nearby resales may see more competition for a few months. Over time, high-quality deliveries can raise the neighborhood’s overall comparable values.

What to check on new projects

• Delivery timing: which quarter units will close, and how many.
• Product type: rental vs. for-sale condos. Only for-sale inventory competes head to head with resale units.
• Builder incentives: closing cost credits, below-market financing options, and upgrade packages can change the real price you pay.
• Separate pricing for parking or storage: factor these into your effective price.
• Contract rules: ask about assignment policies and any restrictions on short-term rentals.

How to build reliable comps

Use this practical checklist to assemble a comp set that reflects NoMa’s buildings and amenities.

Step 1: Tight geography

• Start with the same building. If none, use nearby towers within 0.25 to 0.5 miles.
• Avoid mixing high-rise units with rowhouse comps. The features and price per square foot do not translate cleanly.

Step 2: Right time window

• Use the last 3 to 6 months for active segments.
• Extend to 12 months for low-volume types, especially townhomes or unique floor plans.

Step 3: Product match

• Compare condos to condos and townhomes to townhomes.
• Match unit size and layout: studio, 1-bedroom, or 2-bedroom.

Step 4: Adjustments that matter most

Prioritize adjustments in this order:

1. Parking value, especially assigned garage parking.
2. Square footage, using price per square foot as a baseline.
3. Renovation and finishes.
4. Floor level and view. Higher floors with skyline exposure often command a premium.
5. HOA differences and what is included in the fee.
6. Time-of-sale effects if the market has shifted since a comp closed.

Step 5: Reality check against actives

• Include one or two active listings to test price expectations. If they linger, it may confirm buyer leverage or signal overpricing.
• Watch each building’s days on market pattern to see where buyers are responding.

Timing your move in NoMa

The right timing can save you money or help you win a home you love.

• Track months of supply and DOM over 4 to 8 weeks. A move from under 4 months to over 6 months is a practical signal of shifting leverage.
• Monitor project deliveries. If a large tower is set to close units within 3 to 6 months, you may see temporary pressure on nearby resales.
• Interest rates affect affordability. Rate declines can compress DOM and firm up prices. Rising rates can cool activity and expand negotiation room for prepared buyers.

Buy vs. rent: a NoMa framework

If you are deciding between renting and buying, look at monthly carrying costs compared to comparable rents for your bedroom count.

• Carrying costs: principal and interest, HOA fee, property taxes, insurance, and parking if separate.
• Rent comparisons: use recent 1-bedroom or 2-bedroom rents in the neighborhood for an apples-to-apples view.
• Time horizon: plan on a 2 to 3 year window to recoup closing costs through appreciation in a high-turnover urban market. If your horizon is shorter or you want flexibility, renting may be the better fit.

Practical notes for first-time and international buyers

• Document review: read condo documents, reserves, and any rental caps before you write an offer. Ask about special assessments.
• Financing and incentives: new buildings sometimes offer incentives that can reduce closing costs. Compare those to the resale market.

If you are relocating to Washington, D.C., bilingual guidance and international mobility experience can make your move smoother. Clear expectations on timing, condo rules, and financing options are especially helpful if you are moving from abroad or buying your first home.

Your next step

You do not need to decode this market alone. If you want a clean, building-level snapshot of today’s prices, months of supply, and the new-build pipeline in NoMa, let’s talk. I will help you assemble real comps, estimate carrying costs, and decide whether to buy now or rent while you watch the next delivery cycle. Start your move with a friendly, bilingual consult with Giovanna Piskulich.

FAQs

What is months of supply in NoMa and why it matters?

• It compares active listings to recent monthly sales. Under 4 months favors sellers, 4 to 6 is balanced, and over 6 favors buyers.

How do new condo towers affect NoMa resale prices?

• When a tower delivers, short-term competition can pressure nearby resales, then normalize; quality projects may lift comps over the longer term.

What should I check in NoMa condo fees?

• Review what the fee includes, building reserves, any planned assessments, and whether parking or storage are separate costs.

How do I build strong comps for a NoMa 1-bedroom?

• Pull 3 to 6 recent sales in the same or nearby buildings, match size and layout, and adjust for parking, floor level, finishes, and HOA inclusions.

Is it better to rent or buy in NoMa right now?

• Compare monthly carrying costs to recent rents for similar units and weigh your 2 to 3 year horizon; buying favors longer horizons, renting favors flexibility.