Positive Growth in the DC Real Estate Market

While the political culture in Washington might be rocky, the economic atmosphere appears to be gaining some positive footing. In recent news, the CoStar Group reported that last year’s property values in Washington have actually increased to the highest among the six major U.S. markets. These figures indicate increases both for private properties and for office spaces. Prices for offices in the D.C. area increased by 15% last year, in comparison to a 6% increase in New York.Certainly, there are many individual examples of this growth and returning prosperity. Architect Errol M. Adels has been kept busy redesigning condominiums like that of Leslie Westreich, who moved into the Watergate condominium previously owned by former Virginia Senator John Warner and his wife Elizabeth Taylor.Extensive renovations of such properties, and an increase in commercial property purchases, indicate positive economic growth for the Washington D.C. area.

Danielle Stoneman

Danielle Stoneman got involved with Left Justified in 2010, having studied political science and journalism throughout her college career. With her fresh approach to Washington’s scene, Stoneman focuses primarily on opinion pieces, providing readers with a highly unique perspective on current affairs. Contact Danielle at info(at)leftjustified.com.

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