Washington, DC office market report

Q2 2024

Through the halfway point of 2024, the Washington, DC office market has shown signs of life in certain segments and distress in others, much like any major US office market. Availability continues to rise in the older and more obsolete office stock, while higher quality assets continue to outperform. A limited development pipeline will only exacerbate the tightening in the Trophy segment of the market. Loan sales and other instances of distress have driven Q2 investment sales activity, following a Q1 that featured several core office trades.

12.8 %

Direct availability in trophy buildings

The Trophy segment of the market has continued to outperform its peer segments, indicating that tenants are willing to pay a premium for quality space with access to quality amenities.

$753 mm

YTD Investment Sales volume

Year-to-date investment sales in Washington, DC have already surpassed the total for 2023, which was $656 million by the end of Q2. This marks a significant increase in investment activity in the region.

441 k sf

Under construction office developments

Office development in Washington, DC has hit its lowest point in over 20 years, marking a significant slowdown in the region's real estate market developments pipeline.

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Get in-depth office market reports and insights from commercial real estate experts in the Washington DC Metro area. Avison Young advisors look at Washington, DC commercial real estate activities and the latest Washington, DC statistics to provide you expert market research on Washington DC's office properties.

Explore different topics like the latest office market pricing trends and analysis of Washington DC's current office real estate market conditions. Gain a better understanding of Washington DC’s office real estate outlook and stay ahead of current office space trends. Make smart decisions when it comes to investing in office properties in Washington DC's competitive office real estate market. Avison Young is your trusted source for commercial real estate office market insights in Washington, DC.