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.
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,