Washington, D.C. Tops List of Luxury Home Sales

WASHINGTON, D.C. (April 18, 2016)— It goes without saying that Washington, D.C. is growing as a desirable luxury market. The Coldwell Banker Luxury Market Report examines changes in the context of America’s top cities and zip codes for luxury market listings and sales in three distinct price points: $1,000,000, $5,000,000, and $10,000,000+.

Below are the standings for the Washington, D.C. region in relation to luxury listings and sales nationwide.

U.S. Cities with Highest Number of Closed Luxury Home Sales

· $1 million and up range: Washington, D.C. is #12 with 925 sales

The report also focuses on Luxury Market Trends of 2016. The findings reveal that high-rise buildings are increasingly in demand among the ultra-wealthy homebuyers. Cities such as Los Angeles, New York City, and Miami have seen skyscraper luxury units sold above $20 million, with the demand continuing. In these luxury high-rise buildings, trends are expected in:

· Luxury features that appeal to billionaires, who are looking for more than sweeping views. The application of technology in luxury units creates a more comfortable living where many homes are fully automated and networked. Spas, athletic facilities, entertainment, concierge services, personal shopping, and even sky garages are among the many features that luxury buildings are offering residents.

· Sky garages are projected to trend in markets where buyers want to create spaces that more closely resemble the size and features of traditional single-family homes. Sky garages allow residents to drive into an elevator for a quick ride up to their own garage, providing added privacy and convenience.

· Family-friendly environments are in high demand from wealthy buyers. New towers are featuring bowling alleys, movie theaters, ice-skating rinks, pools, and athletic courts. Dog runs and pet-oriented features are becoming more common, where many luxury buildings offer dog parks, pet spas, and health services.

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