Are you in the market for a condo in D.C.? Yeah, good luck with that.

According to data released today by the D.C. Office of the Chief Financial Officer, the sale of condos in January was 33.8 percent higher than in the same month a year prior. Additionally, the median price for condos in D.C. jumped 17.3 percent over the same time period, rising to just under $400,000. (The year-to-year rise in December stood at 17.8 percent.) The median price for single-family homes, meanwhile, only increased five percent.

UrbanTurf similarly reports that the regionwide inventory of condos is down to 9.6 months; in January it stood at 12 months:

In the DC region, there are currently 2,849 new condo units under construction or being marketed. What that translates to is just 9.6 months of new condo inventory, based on the current sales pace. To give this number some historical perspective, last July inventory stood at 3,629 units. In 2007, there were nearly 20,000 new condos on the market.

There are some regional divergences, though: inventory in D.C. can be as low as six months, while it can approach a year-and-a-half in Prince William County.

Over the next few years the condo market in D.C. will likely remain hot, while apartment rentals will become a more affordable option for many. According to the report published by the D.C. CFO, there were 9,322 apartments under construction or being marketed in the fourth quarter of 2012; 7,947 apartments are set to deliver over the next 36 months. For condos, the numbers stand at 923 and 1,378, respectively.