What are the typical price ranges for Condos, Townhomes, and Single-Family Homes in the DMV?

What are the typical price ranges for Condos, Townhomes, and Single-Family Homes in the DMV?

In the DMV market, price ranges vary widely depending on location, age, and amenities. Condos generally sit at the lower end of the pricing spectrum, making them more accessible for first-time buyers or those prioritizing location over space. Townhomes fall in the middle, offering a balance between affordability and livability. Single-family homes (SFHs) usually command the highest prices due to land value, privacy, and long-term appreciation potential.

Why do price differences matter beyond the purchase?
The initial price is only part of the equation. Each property type carries different long-term costs, resale behavior, and market sensitivity. Condos may appear affordable upfront but can be impacted by rising HOA fees and stricter buyer pools during resale. Townhomes often hold value well, but appreciation can be influenced by HOA rules and surrounding density. SFHs typically involve higher maintenance costs but benefit from stronger demand and land appreciation over time.

How does each property type fit a different purpose?
Condos work well for buyers focused on convenience, walkability, or short-term ownership. Townhomes are often ideal for buyers seeking more space without fully committing to detached-home pricing. SFHs are better suited for long-term ownership, family growth, or buyers prioritizing privacy and future equity.

What does “exit strategy” mean in real estate?
An exit strategy refers to how easily and profitably a property can be sold or rented in the future. Condos depend heavily on market conditions, building health, and HOA stability. Townhomes appeal to a broader resale audience but can still be affected by community restrictions. SFHs typically offer the strongest exit options due to consistent buyer demand and fewer shared controls.

What happens if the wrong choice is made?
Choosing a property type that doesn’t align with timeline, lifestyle, or financial goals can limit flexibility later. Higher carrying costs, slower resale, or restricted rental options may result in lost time and money.

How should buyers decide which option fits best?
The decision should be based on numbers, not emotion—considering price range, monthly costs, expected length of ownership, and future resale potential. What works today may not work five years from now.