Capital Region 2019 Year in Review Market Report Now Available

January 28, 2020

The real estate market in the Capital Region remained steady in 2019, with little change from 2018, while luxury home sales ($1M+ properties) outpaced the market with a 12% rise over the year prior. Housing inventory remained tight during the past year, with December inventory in the Capital Region dropping 40% below December 2018 figures. The high-end market also experienced a 25% decline in properties for sale.

Similar market conditions are expected in 2020, as inventory remains low and prices steadily appreciate. Interest rates are expected to stay around 4% this year, although any shifts in the global economy could affect those rates. Overall, a healthy real estate market is predicted for the coming year, with high consumer confidence and a strong stock market likely to continue.

If you are looking to buy or sell a home in 2020, choose the team at Long & Foster | Christie‚Äôs. “We have decades of real estate expertise in the local area, and we rank as the No. 1 brokerage firm in the Capital Region, both in traditional and luxury real estate sales,” said Jeffrey S. Detwiler, president & CEO of The Long & Foster Companies. We know the neighborhoods, the market and the real estate process, so we can successfully guide you on your journey home.

Get an in-depth look at real estate trends in the greater Washington, D.C., area in the 2019 Year in Review Capital Region Report.