WASHINGTON, D.C. METRO LUXURY HOME SALES INCREASED IN THIRD QUARTER

Written by Posted On Thursday, 01 November 2018 10:13
Michelle Zelsman Represented the 512 N Overlook Drive, Alexandria Listing Which Sold For $1.19 Million Michelle Zelsman Represented the 512 N Overlook Drive, Alexandria Listing Which Sold For $1.19 Million

WASHINGTON, D.C. (October 26, 2018) – The number of luxury home sales in the Washington D.C. metro area increased from the third quarter (Q3) of 2017, according to a new report by Coldwell Banker Residential Brokerage, a leading provider of luxury real estate services in the Mid-Atlantic.

A total of 1,047 luxury properties priced $1 million and higher sold in Q3 2018, an increase of 6.4 percent from 984 luxury properties sold in the prior year’s third quarter. The data is based on sales of $1 million-plus homes in Washington, D.C. metro recorded by the Multiple Listing Service.

“We continue to see a steady demand for luxury properties throughout the D.C. metro area, with homes spending an average of six weeks on the market since the beginning of this year, indicating that metro Washington D.C. continues to be a sought-after market to invest in,” said Duff Rubin, president of Coldwell Banker Residential Brokerage, Mid-Atlantic. “Last month, we had an affiliated agent in Alexandria close on a luxury home in under 12 days for over the asking price, which resulted from a bidding war.”

Below are some additional findings from the Q3 Coldwell Banker Residential Brokerage luxury report:

  • - The D.C. metro saw the highest-priced sale in Q3 with the $4,445,000 sale of 1111 24th Street NW #9C
  • - Sellers received an average of 97.1 percent of their asking price in Q3 2018, a one percent increase from Q3 2017
  • - The median sales price decreased by 1.8 percent, from $1,349,000 in Q3 2017 to $1,325,000 in Q3 2018
  • - A total of 1,835 luxury homes were available in Washington, D.C. in September 2018, compared to 1,913 in September of 2017         

The Washington D.C. Metro Luxury Home Report is presented by Coldwell Banker Residential Brokerage, a specialist in high-end real estate sales. Through its internationally renowned Global Luxury program, Coldwell Banker is recognized around the world for its expertise in the luxury housing market. 

About Coldwell Banker Residential Brokerage

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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