Two of the 10 most expensive homes sold in the D.C. area in March were condos.
Does that surprise you?
Not long ago, when I thought of luxury condos, it was just over 2,000 square feet of “feels like a home” with some additional amenities all maintained by someone else. They sold well to the D.C. weekenders, or their counterparts, the DC work-weekers.
Today – that has all flipped around. The luxury condo market in DC today has an opening and some out of town condo developers are moving in to provide the product. Some of these condos are 5,000 square feet or more, and may include 5 or more bedrooms.
These are hardly your college age condos. These are for the “entertainers” who want a place to mingle with their contemporaries.
Have you noticed a change going on in the DC area over the last few years?
We have always had an Embassy Row, and our local universities attract more international students than ever before.
Some of those international students have decided to stay. And so have their deep pockets. Many are opting for the condo life, and perhaps we see their relatives joining them.
You will find an interesting few facts about the recent luxury sales taking place in the DC area on WTOP here.
Just don’t be surprised when you see the 6,100 square foot condo priced at just under $10 million. It could be yours for a monthly payment of $41,854/mo according to Trulia.