Home Prices in the Luxury Market Fell This Summer for the First Time Since 2012
Does a dip in luxury home prices indicate that wealthy buyers and foreign investors are stepping out of the market?
Alina is on the communications and PR team at Redfin. She helps consumers and the media understand what's going on in the housing market, the real estate industry and inside Redfin.
Email AlinaDoes a dip in luxury home prices indicate that wealthy buyers and foreign investors are stepping out of the market?
Home prices in the District climbed a modest 2.1 percent while sales slumped 12 percent in October. Redfin agents say seasonality is one reason for October’s slow sales and modest price growth, but they also sense a subtle shift in the market that might be more than a seasonal chill.
Last Friday, as a part of Take a Patriot to Work Day, Redfin agents in Northern Virginia hosted several students from George Mason University to give them an inside look at life inside a busy real estate brokerage.
Washington, D.C., home prices rose 10.8 percent in September from a year earlier, to a median sale price of $515,000. While the city has seen year-over-year price increases every month since November, the picture is different across the broader DC-MD-VA metro region.
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