Homes priced in the top 5% of the D.C. metro market are selling as fast, or faster, than homes in the overall market, and those sellers are getting what they’re asking for, according to listing service Bright MLS’ new mid-Atlantic luxury housing report.
The report looks at the broader mid-Atlantic market, including the Baltimore and Philadelphia areas, but the list of luxury sales is dominated by the D.C. region.
A luxury home in the D.C. region is defined as one that is priced at $1.6 million or more.
In the second quarter, half all luxury homes sold were under contract in less than 8 days, and nearly half sold for above their list price. All-cash buyers accounted for 31.6% of all luxury home sales in the second quarter.
Click here to read the rest of the article written by Jeff Clabaugh over WTOP
