2021 was another banner year for the luxury housing market. Nine of the top 10 sales were for $10 million or more.
On this year’s list of most expensive homes sold in the D.C. region, which was compiled with the help of Black Knight and Bright MLS, nine of the 10 properties sold for $10 million or more, tying last year’s record for the most eight-figure sales in one year. Only residential properties with houses were considered. Multifamily residential and commercial sales were not included.Washington’s high-end market still pales in comparison with New York City, Los Angeles, Miami or Silicon Valley.
“We priced it where we did because we saw the momentum in the market,” she said. “We saw that the pool of buyers for that kind of property had really grown.”One of the reasons River View commanded such a high price is because it is on the Potomac River, as were the two previous record-holding properties.
“This is the first time in my over 40-plus-year career — I think all the partners at TTR would agree — I’ve seen limited inventory in this price range,” Corey said. “That’s the biggest thing I’ve noticed is the amount of buyers in that price range.”The buyers tend to be local and not from outside the DMV. Although Corey said she had two international buyers express interest in River View, the ultimate buyer was someone who grew up in the area, Washington Commanders owner Daniel Snyder.
The pandemic hasn’t really changed what luxury buyers are seeking when buying a house. Just as before covid-19, they want security, privacy and space. But the supply-chain disruptions have made them less willing to buy fixer-uppers.
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