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Washington, DC-Attachment enjoys “Trump’s lump” on its luxury domestic market.
That so -called “Trump Bump” started around November, when the capital of the state recorded a great increase in demand for Luxury homes It is worth at least $ 5 million, and continued in the new year, under the DC agency, Nurit Coombe management partner.
“Usually, houses above $ 5 million in November, for example, a year ago, there were eight sales or something,” she told Fox Business in an interview this week. “Between November, December, we had 20 sales over $ 5 million, a huge jump and a lot of money customers.”
Washington, DC – January 19: The US Capitol was shown on the sunrise the day before the inauguration of elected President Donald Trump 19 January 2025 in Washington, DC. Selected US President Donald Trump and Vice President Senator JD Vance (R-OH) (Joe Radle / Getty Images / Getty Images)
“It’s a lot of sales,” Coombe noted, because the DC luxury market “No inventory”.
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On the market and there are fewer than 30 family houses above $ 5 million even less in the ultra-ultralux category-n area DCAccording to the DC Administrative Partner Agency. She said that several luxury homes that had long been sold for a long time were quickly under a contract in November.
More than 60 luxury homes, which are mostly considered those above the $ 5 million brand, have been sold on the DC market since the November election, according to the DC Agency.
“The market currently in DC is very, very strong, very hot, especially in the luxury market, for sure, because as you go to the top of the price, you do not have so many customers, but we actually have more than usual, much more than usual,” he said, “he said Coombe for Fox Business.
Trump’s administration is a great contribution to the recent increase in the Luxury DC market.
“The administration is a very rich administration and everyone will move to the area to work out of here. You have seen in the previous administration, it was not so rich, much less rich people who moved in and some did not move in in a really full -working time. . Here you see a complete change in the whole family, we will be full time here, and very wealthy people are moving to the area, so there is a lot of demand, “she said.
However, they are not the only fuel.
“These are also large companies, lawyers, and they are moving. There are people who are more aligned with the new administration, so a lot is happening,” Coombe added. “Executive directors of companies, their auxiliary staff, lawyers, many advisers for large companies.”
Skyline Washington, DC, including the US Capitola, Washington Monument, Lincoln Memorial and National Mall, was seen from the air, January 29, 2010. AFP Photo / Saul Loeb (Photo Credit should read Saul Loeb / AFP via Getty Images) (Saul Loeb / AFP via Getty Images / Getty Images)
Kalorama, Foxhall, Georgetown and Kent are some of the fourth in the capital of the state benefits from “Trump’s bump”.
Some recent sales include a $ 25 million transaction in Foxhall and a $ 10.5 million contract in Georgetown, according to Wall Street Journal.
The demand in the DC luxury market has increased by 18% compared to the year, Coombe states.
She also said that parts of the wider area of DC, Maryland and Virginia, known as DMV, “definitely” have seen more luxury demand in recent months, such as a fourth in Bethesda, northern Bethesda and Mclean.
Apart from luxury homes, city houses and apartments were in great search.
These were the most expensive houses sold in 2024, according to Redfin
“The situation of the Government employee” also makes Real Estate market in DC-Hand Dynamic, according to Coombe.
Trump issued a command to restore federal workers to the office full -time office at the end of January. His administration offered to buy many federal workers to leave the job or start with personal work, Reported Fox News Digital.
Detroit, Michigan – August 26: Republican Presidential Candidate, former US President Donald Trump during the National Guard Association 146. General Conference and Exhibition at the Huntington Place Congress Center at Aug (Emily Elconin / Getty Images / Getty Images)
“This is an interesting shift for watching, because when you look at the government employees, it is not necessarily the upper echelon, it is not necessarily a high luxury, the more environment,” Coombe said. “There are a lot of people who took the incentive that the government offered to go government And when you see this, many of them do not remain in the area. “
In the meantime, others return to the area because they have to work again in the office, she said.
It “depends on politics” whether “Trump Bump” will continue on the Coombe.
“Everyone is watching what will happen to government employees, what will happen to the international tax we have, what will happen on the stock market and obviously a mortgage,” she posed. “I think lenders sit firmly and watch.”
The national 30-year-old fixed mortgage rate was 6.87% on average in the week of February 13, according to Freddie Mac. This indicated a 0.02 percent drop over the previous week.
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She said that the buyers of houses in the DC area were accustomed to the current rate and that rates did not actually affect the luxury market of DC, noting more than 60% of customers in that category since November paid “all money” or “heavy money.”
DC had 5 sales of ultra-luxury homes worth at least $ 10 million in 2024, according to a recent Compass report. These sales were $ 67.85 million.
In January, the homes in the real estate market in DC and Montgomery were sold for median of $ 552,500, according to the Realtors Greater Capital Area Association.
