Sitting on a tree-lined street at the southern tip of Hill East, this two-bedroom, 1.5-bathroom blue brick rowhouse looks out to the Anacostia River and boasts an updated kitchen graced by a working fireplace. The sellers say Fourth of July fireworks are easy to see from the front of the house, which recently entered the market for $599,999. The address is 1360 L St. SE.

There are wood floors throughout, and in the back, an expansive screened-in porch offers a tranquil place to relax or entertain. It comes with an overhead fan and skylights. Behind the porch, the fenced backyard includes a brick patio, raised garden beds, and a big storage shed. The Potomac Avenue Metro station and bus routes are a little over five minutes away by foot.

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Roughly 1,750 condo units are expected to begin sales in the District this year, according to residential sales agency Urban Pace. The supply surge is being driven by large projects, with 11 condo developments of more than 50 units launching sales this year, the most large-scale projects to hit the market in the same year in at least a decade.  Population and job growth has boosted demand in D.C.’s condo market, but supply has continued to lag behind, leading to underwhelming sales volume. Urban Pace President Clint Mann expects the onslaught of new supply this year will be quickly absorbed and lead to higher overall sales volume. “Part of the reason we haven’t seen more sales in recent years is lack of inventory,” Mann said. “This year we’re going to be delivering a lot of product for the first time in a long time, giving the market options. I think we’re going to find some of the challenges that faced our market from an undersupply standpoint and lack of inventory are going to be solved.”  Before the recession, developers often built condo projects with hundreds of units, but securing financing for large-scale condo development has been much more difficult this cycle, Monument Realty founder Michael Darby said. Darby, who is preparing to launch sales on two D.C. condo projects this month with 171 and 69 units, respectively, said the market has been demanding larger condo projects because the scale allows buildings to offer the same level of amenities renters experience in apartments.  “It’s been a market for renters for so long, there have been bits and pieces of smaller products that have come to market in the last 10 years, but nothing of size,” Darby said. “People are fed up because they haven’t had a good product to buy.”  Many of the large-scale condo projects are delivering in the same neighborhoods that have led the recent wave of apartment construction: Capitol Riverfront and NoMa.  In Capitol Riverfront, PN Hoffman has already sold out 75% of the 138 units at The Bower, the first for-sale multifamily building at the 49-acre The Yards megaproject, according to its website. Three additional, 100-plus unit condo buildings will begin sales in the neighborhood this year, greatly increasing the options for buyers.

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