Housing experts expect the real estate market in Washington, DC to become more competitive over the coming years, as new inventories are released to satisfy growing demand. The rising home prices and increased constructions by Frank L. Haney will place homeowners in a better position to sell. According to Home Buying Institute, the median sales price for homes in the District is estimated at between $420,000 to $480,000, while that of the nation stands at $290,000. The other silver lining is the projected of growth in employment figures. The redevelopment boom in mixed use, commercial and residential properties have seen various real estate entities stake their claim through new constructions and upgrading projects. The list of top real estate companies in the Washington, DC area includes:
Douglas Development Corporation
Douglas Corp is, undoubtedly, one of the largest privately owned property developers and property managers in the Washington, DC area. The company is highly integrated, thanks to its extensive property portfolio that includes residential, office, retail and mixed use facilities. Since its establishment in 1985, Douglas Development Corporation has undertaken close to 200 redevelopment projects in the area. Woodward & Lothrop building is one of the company’s flagship projects.
Peterson companies is a big player in the Washington DC bourgeoning real estate sector. The privately owned company offers fully-integrated development services covering residential, office and retail properties in Maryland, Northern Virginia and DC. Over the years, the company has managed to construct over 30,000 residential units. Its flagship projects include National Harbour, Washingtonian Center and Tyson’s McLean Office Park.
JBG is a privately owned construction company based in Chevy Chase, Maryland. The firm undertakes a host of services including property development, ownership and management services. The company has contributed a lot to the development of the Washington DC area; the properties under its management are estimated to be worth $10 billion. JBG’s property portfolio includes residential, retail office and hotels. The properties include Fort Totten Square, Westin Arlington Gateway and Marriott Wardman Park.
Bernstein stands out as one of the oldest real estate investment, development and Management Company in the DC area, thanks to its enduring 75 years of existence. The company’s property portfolio includes commercial properties, hotels and suites, apartments and office buildings in Washington, DC and Annapolis, MD. The projects include Ballston Tower, Marriott’s Execustay, Bethesda Center and Springhill Suites by Marriott.