The Trump Bump in Residential Real Estate
A change in administration typically sees a lot of change in policy; it can sometimes have an effect on other sectors too like real estate. And that is exactly what we are seeing with this change in the administration. Coined the "Trump Bump," luxury residential real estate is seeing a massive surge this Winter.
Let's look at some stats:
Since the election, and as of December 19th @8am, there have been 22 homes* in the immediate area priced at $4M+ that have gone under contract. Compare that to the same timeframe last year (Nov 6th - Dec 19th, 2023) where there was only 1. 22 vs 1 -- that's a major difference. To give this even more context, looking at the same timeframe in 2019 (considered to be the last "normal market year" prior to the wild pandemic markets, there were no pending or under contract sales.
This Trump Bump is expected to continue into 2025 as well. Whether you voted for Trump or not, it is hard not to recognize the affect this election is having on the luxury real estate market.
It's important to note that the majority of staffers don't make a major real estate purchase. Many White House, House and Senate staffers don't have the job security yet to feel comfortable to jump into the DC housing market. Will they be here two years, six years? For many, their future plans are unknown when they first move to the Capitol Region. Many also don't have the income to purchase in our market just yet.
Call or text me (202) 798-1288) to talk through your real estate needs and if this Trump Bump can assist you with your real estate portfolio goals.
*area searched include: Washington, DC, Montgomery Co, Fairfax City. Fairfax Co, Alexandria City, Arlington, VA.
