A study from Homes.com found that neither D.C. nor the surrounding suburbs in Maryland and Virginia have seen any drastic changes to the housing market despite recent buyouts and layoffs
Homes.com Releases New Report on Washington-area Housing Market Amid Federal Workforce Changes
News Media
Matthew Blocher
CoStar Group
(202) 346-6775
mblocher@costargroup.com
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Active listings in DC remain around same levels (Graphic: Business Wire)
The analysis from Homes.com found that since the beginning of January, neither D.C. nor the surrounding suburbs in Maryland and Virginia have seen any drastic changes to the number of active listings, sold properties or median sales prices in the area. Moreover, when compared to the same time period a year earlier, the data shows no sharp changes. While there’s been a slight increase in the number of listings and asking prices, that trend started before the new administration took office.
Despite the stagnant nature of the market at the current moment, insight from Homes.com noted any big changes in the size of the federal workforce is likely to drive countervailing trends, including sparking a desire for some to leave the area while others who once might have moved into the area are no longer interested. It's difficult to know how supply and demand will take shape, especially with the peak moving season approaching in the spring, a time when more people tend to list their homes for sale.
One notable change taking hold in the DMV housing market, though, is an increase in ultraluxury listings and ultraluxury buyers. Over the past month alone, there have been 13 houses in the city and its suburbs priced at $7 million or higher, according to Homes.com data, and this figure only accounts for houses that have been publicly listed on multiple listing services.
Local real estate insiders expect that trend will continue, with Daniel Heider, executive vice president and agent at TTR Sotheby’s International Realty, saying in an earlier interview, “I do anticipate this continuing just given, again, the shift in the way I think businesspeople are thinking about the policy that’s very quickly changing. These folks feel as though, economically, they’re going to do quite well.”
The full data is depicted in the charts below. For more information and insight on the latest home buying and selling market trends visit: Homes.com/news.
About Homes.com
Homes.com is the fastest-growing residential real estate marketplace and the second largest portal in the United States. Homes.com is a brand of CoStar Group (NASDAQ: CSGP), a global leader in commercial real estate information, analytics, and online marketplaces, which acquired the platform in 2021.
Homes.com is the first major U.S. real estate portal to focus first on helping homeowners and their agents leverage the marketing power of the internet to bring more potential buyers to their listings. Homes.com’s unparalleled content and search capabilities bring millions of buyers and sellers to the site where they can seamlessly connect with agents. On average, Homes.com’s Members are winning 58% more listings* because they offer the home sellers a real estate portal that works for them not against them.
The Homes.com Network reached an audience of 110 million average monthly unique visitors in the fourth quarter ending December 31, 2024.** Consumer brand awareness skyrocketed from 4% to 33% in just one year since CoStar Group launched the industry’s largest marketing campaign to date in February 2024, reintroducing the platform to the market. For more information, visit Homes.com.
*Based on internal analyses comparing Members to non-Members on Homes.com.
** Homes.com Network (which includes Homes.com, the Apartments Network, and the Land Network) average monthly unique visitors for the quarter ended December 31, 2024, according to Google Analytics.
About CoStar Group, Inc.
CoStar Group (NASDAQ: CSGP) is a global leader in commercial real estate information, analytics, and online marketplaces. Founded in 1986, CoStar Group is dedicated to digitizing the world’s real estate, empowering all people to discover properties, insights, and connections that improve their businesses and lives.
CoStar Group’s major brands include CoStar, a leading global provider of commercial real estate data, analytics, and news; LoopNet, the most trafficked commercial real estate marketplace; Apartments.com, the leading platform for apartment rentals; and Homes.com, the fastest-growing residential real estate marketplace. CoStar Group’s industry-leading brands include STR, a global leader in hospitality data and benchmarking, Ten-X, an online platform for commercial real estate auctions and negotiated bids and OnTheMarket, a leading residential property portal in the United Kingdom.
CoStar Group’s websites attracted over 134 million average monthly unique visitors in the fourth quarter of 2024, serving clients around the world. Headquartered in Arlington, Virginia, CoStar Group is committed to transforming the real estate industry through innovative technology and comprehensive market intelligence. From time to time, we plan to utilize our corporate website as a channel of distribution for material company information. For more information, visit CoStarGroup.com.
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