Edgewater’s $1 million-plus condo market recorded more sales in 2026, while resale prices edged higher after accounting for an unusually expensive transaction in the prior year. But buyers are taking longer to close, and homeowners are facing higher association costs. At the same time, new projects are asking up to $2,000 per square foot, creating a striking divide between resale and pre-construction pricing.
Key takeaways
The figures cover closed Edgewater condo sales above $1 million from January 1 through September 3, 2026, compared with the same period in 2025. They point to stronger sales activity alongside longer marketing times and a widening gap between existing condos and new developments.
- Sales rose 32%, to 103 closings from 78.
- Average resale price per square foot reached $968, up about 3% from $941.
- Average time on market increased to 254 days from 200.
- Average HOA fees climbed about 9%, to $1.22 per square foot.
- Pre-construction projects are asking approximately $1,800 to $2,000 per square foot.
More sales, with core prices slightly higher
The 103 closings represent 25 more transactions than in the comparable 2025 period. The unadjusted average sale price was about $1.995 million in 2026, compared with roughly $2.039 million a year earlier. However, the prior-year figure includes a single $9.05 million sale—more than twice the 2026 high sale of $4.415 million.
Excluding that outlier, the 2025 average was about $1.948 million, making the 2026 average 2.4% higher. Average price per square foot also rose, from about $941 to $968. Individual transactions varied: the lowest reported sale price per square foot increased from roughly $503 to $640, while the highest eased from about $1,469 to $1,375. These extremes reflect specific sales, not a uniform price movement across every building.
Longer selling times create room to negotiate
Average cumulative days on market rose 27%, reaching 254 days—about 8.4 months. That gives buyers more time to compare properties and can strengthen their negotiating position, particularly on listings that have lingered.
The sale-to-list ratio improved slightly, from 93% to 94%. In practical terms, a $2 million listing selling at 94% of asking would close around $120,000 below its list price, although actual negotiations depend on the property and its pricing. Sellers may need to set realistic prices from the outset rather than assume the market will quickly absorb an ambitious ask.
HOA costs add to the ownership calculation
Average association fees increased from $1.12 to $1.22 per square foot, an increase of about 9%. For a 2,500-square-foot condo, that difference amounts to roughly $250 more per month, or $3,000 annually, using the reported averages. Buyers weighing options should include monthly fees alongside purchase price, and sellers should expect those carrying costs to factor into buyer decisions.
New construction sets a much higher asking benchmark
New Edgewater offerings, including Anantara and The Edition Edgewater, are asking about $1,800 to $2,000 per square foot—nearly twice the resale average. At 2,000 square feet, that equates to roughly $3.6 million to $4 million, compared with about $1.94 million at the resale average.
Those are pre-construction asking prices, not completed-sale comparisons. New buildings may offer different finishes, amenities, branding and building age, all of which can help explain a premium. The market report suggests that completed projects and future resales could influence neighborhood comparisons over time, but the effect is not guaranteed.
A market with different advantages for buyers and sellers
Edgewater’s 2026 picture is mixed: transaction volume and adjusted average pricing strengthened, but listings took longer to sell and ownership costs rose. Buyers may find leverage in longer marketing periods, while sellers benefit from greater sales activity and firmer underlying prices. Building, unit line, condition and fees remain essential to assessing any individual condo; neighborhood averages alone cannot establish its value.