Covid-19 Kindled Washington, D.C.’s Luxury Market. The New Administration Could Make it Even Hotter.
The pandemic lit a fire under the city’s high-end home market. Real-estate agents say it could become even more competitive, as President Biden appointees descend on the U.S. capital By Katherine Clarke |
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Cesar Olivares
Cesar Olivares
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For many years, Michael Stock said he never considered selling his handsome Beaux-Arts Revival-style home on Washington, D.C.’s prestigious Embassy Row not even when representatives from a nearby embassy stopped by with a case of wine and an unsolicited bid of interest.
Then the pandemic happened, sending the local luxury real-estate market on an unstoppable hot streak. The rise in prices, combined with the promise of fresh demand spurred by an incoming presidential administration, proved too good to pass up: Mr. Stock listed his home, which he bought in 2008 and spent years restoring,
December 29, 2020 at 12:45pm
This regularly-scheduled sponsored Q&A column is written by Eli Tucker, Arlington-based realtor and Arlington resident. Please submit your questions to him via email for response in future columns. Enjoy!
Happy holidays to you and yours! I hope you are finding new ways to enjoy the season and connect with family and friends this year. I’m going to keep my final post of 2020 light and take a look at the most expensive sales in the DMV in 2020, something we all enjoy doing!
Despite its Missing Ultra High-End Market [sarcasm], Arlington boasts the most expensive sale in the DMV in 2020, by a LOT, with the sale of a massive estate along the Potomac River for $45 million. This price tag earns the new owner over 31,000 square feet of living space, 3.2 acres, a 30-car garage and gorgeous views of the Potomac River.