Latest Capital Region Market Report Now Available

The real estate market in the Capital Region is off to a rapid pace this year. Across the area, sales were up almost 10 percent compared to the first quarter of 2016. The greatest growth arose in the luxury market, where sales of properties over $1 million increased by more than 42 percent in the 2017’s first quarter. These results are a clear indication of the strength of and confidence in our local real estate market.

While inventory remained tight throughout the Capital Region, a little relief arrived in the luxury space, where the number of properties for sale rose by 2.4 percent this quarter. As a whole, though, the number of homes for sale in the greater D.C. area decreased by 9.2 percent compared to the same time last year. With the restricted inventory comes a sellers’ market, and that is likely to continue throughout 2017.

See more of what’s happening the D.C. area real estate market in Long &  Foster’s Q1 2017 Capital Region Market Report.