Q3 2019 Quarterly Capital Region Market Report Now Available

Nov 201911

Q3 2019 Quarterly Capital Region Market Report Now Available

The third quarter of 2019 brought steady results across both the luxury and traditional real estate markets. As a whole, home sales increased 1.9 percent last quarter, while luxury sales—those homes priced above $1 million—enjoyed double-digit growth of 14 percent. The largest jump occurred in the $2 million to $4.9 million price range, which had a 16.3% improvement in the third quarter.

These increases occurred despite continued challenges with inventory. The number of homes for sale in the traditional market (sub-$1 million) had dropped a staggering 25.6% at the end of the third quarter. Inventory of high-end homes also declined, albeit not as significantly with a 6% decrease reported at the quarter’s end.

As we look toward 2020, we expect inventory to remain a challenge, but the expert guidance of a real estate professional with Long & Foster | Christie’s can help you achieve success. Our team has over 50 years of experience in the greater D.C. area, and that expertise has helped us become the No. 1 real estate traditional and luxury brokerage in the Capital Region.

Read more about the market conditions in Long & Foster’s Q3 2019 Capital Region Market Report.