Long & Foster’s year-end market report details real estate trends
Across the D.C. Capital region, home sales in 2022 declined 22%, compared to 2021, according to Long & Foster Real Estate’s year-end market report.
The sale of luxury homes, that is properties above $1.5M saw a smaller decline, down by only 4%. End of year active inventory was up 16.5% for properties of all price points and luxury homes for sale increased by 29%.
“Today’s market is complex and ever-changing, but it presents tremendous opportunities for both buyers and sellers,” said Larry “Boomer” Foster, president of Long & Foster Real Estate. “If you are looking for a real estate partner to help you navigate these conditions, choose Long & Foster.”
Working with the Long & Foster team, you’ll have everything and everyone you need to buy, sell, rent, invest and own a home. Real estate. Inspection. Mortgage. Insurance. Settlement. Moving. We built each of these businesses, so you enjoy a more streamlined, relaxed and exceptional real estate experience every time you work with us.
Long & Foster is your home for all things home, making it simpler and easier for you to buy, sell, rent, own and invest in real estate.
In addition to highlighting major trends in the D.C. Capital Region, the report spotlights individual neighborhoods. It also summarizes the local luxury market by the types of homes (for example, single family and townhomes) sold in individual neighborhoods, providing an in-depth analysis of the residential market. View the report in its entirety here.