Washington, D.C. Metro Luxury Home Sales Increase in July

Written by Posted On Thursday, 16 August 2018 08:39

WASHINGTON, D.C. (August 16, 2018) – Total luxury home sales increased in Washington, D.C. metro area in July year-over-year, according to a new report by Coldwell Banker Residential Brokerage, one of the Mid-Atlantic area's leading real estate services companies.

A total of 408 residential properties priced $1 million and higher were sold last month, up 3.3 percent from 395 home sales in July 2017. The median price for luxury properties sold in July was $1,310,000, a 2.2 percent loss from $1,340,000 in July of 2017. The data is based on sales transactions recorded in metro Washington, D.C. by the Multiple Listing Service.

“During the extremely active summer selling season, Coldwell Banker was proud to take part in the highest recorded residential sale in July,” said Duff Rubin, president of Coldwell Banker Residential Brokerage, Mid-Atlantic. “The $19.9 million sale reinforced the value that metro Washington, D.C. offers to buyers, demonstrating that the nation’s capitol is a desirable market to invest in.”

Below are some additional findings from the July Coldwell Banker Residential Brokerage luxury report:

  • The top sale in July was a McLean home which traded hands for $19,900,000. Coldwell Banker Residential Brokerage’s Monica Boyd represented the buyer in the record-breaking transaction
  • Sellers received an average of 97.8 percent of their asking price in July, a slight increase from 96.5 percent in July 2017
  • Luxury homes sold in an average of 44 days in July, compared to 46 days in July 2017
  • A total of 1,827 luxury homes were available in Washington, D.C. in July 2018, compared to 1,849 in July of 2017

The Washington, D.C. Metro Luxury Housing Market Report is a monthly report produced by Coldwell Banker Residential Brokerage, which specializes in high-end real estate sales. Through its internationally renowned Coldwell Banker Global Luxury program, Coldwell Banker is recognized around the world for its expertise in the luxury housing market.

Coldwell Banker Residential Brokerage is a leading residential real estate brokerage company with 30 sales and resort rental locations and more than 2,100 affiliated agents serving the communities of Greater Baltimore, Greater Washington, D.C., including Northern Virginia, and the Maryland and Delaware beaches. Real estate agents affiliated with Coldwell Banker Residential Brokerage are independent contractor agents and are not employees of the company. Coldwell Banker Residential Brokerage is part of NRT LLC, the nation's largest residential real estate brokerage company. For more information, visit ColdwellBankerHomes.com.

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