Real Estate

Luxury real estate brokers in DC are gearing up for a flurry of big-dollar sales as power players flock to town for Trump’s return

As Washington braces for Donald Trump’s return to the White House next month, one sector is already counting its blessings: the District’s high-end real estate market.

With billionaires and power players expected to flood the nation’s capital, brokers are gearing up for a flurry of multimillion-dollar deals in elite neighborhoods like Kalorama and Massachusetts Heights.

“I think we will see some big numbers transact again starting around January,” Michael Rankin, principal at Sotheby’s International Realty in DC told Curbed. These big spenders, he added, have been waiting for clarity before splashing out on properties.

Following Donald Trump’s re-election, real estate brokers anticipate a wave of high-end transactions as multimillionaires and billionaires in his administration seek to establish their presence in affluent neighborhoods like Kalorama, Massachusetts Heights and Woodland Normanstone. Getty Images
The former home of Jared Kushner and Ivanka Trump in the Kalorama neighborhood of Washington, DC. The Washington Post via Getty Images

“People don’t want to spend $5, $10, $15 million if they don’t know whether they’ll be confirmed or not. But what we do know of the people who are coming is that it’s the multimillionaire and multibillionaire class.”

Trump’s first term saw a buying spree from his inner circle. Commerce Secretary Wilbur Ross dropped $12 million on a Beaux-Arts mansion, Treasury Secretary Steve Mnuchin shelled out $12.58 million for a 16,000-square-foot estate and Secretary of State Rex Tillerson snagged a $5.5 million Kalorama home.

This time around, brokers are already fielding inquiries from high-profile officials, although NDAs keep the details tightly under wraps. Kalorama, known for its palatial homes and diplomatic residents, is likely to see the bulk of activity.

During Trump’s first term, prominent officials like Wilbur Ross, Steve Mnuchin (pictured), and Rex Tillerson made significant purchases. AP
The home of Jeff Bezos, founder and CEO of Amazon, in the Kalorama neighborhood. Bloomberg via Getty Images

“It’s a more palatial atmosphere in Kalorama compared to Georgetown,” Washington hostess Sally Quinn once told Esquire during Trump’s first term as president. “Bigger, newer houses.”

That said, Georgetown, with its liberal reputation, is unlikely to host many members of Trump’s team.

“I have not heard of any of the Trump people living in Georgetown,” Quinn added.

But not all the buzz is positive.

Trump’s plans to cut the federal workforce could send shockwaves through the middle and upper-middle-class housing market, with agencies like HHS and EPA bracing for layoffs.

While Trump’s frequent stays in Florida and New York might limit some activity, brokers are already seeing interest from high-profile figures in his circle, though details remain under wraps due to strict NDAs. The Washington Post via Getty Images
Potential challenges loom, including Trump’s proposed federal workforce cuts and threats to revoke DC’s home rule, which could dampen the broader housing market and push some residents to sell. The Washington Post via Getty Images

“My team has had a number of calls from people at agencies… saying, ‘We don’t know what’s going on, but we might need to sell,’” Eva Davis, an executive vice president at Compass, told Curbed.

There’s also concern that Trump’s team may not be as invested in DC as past administrations, given his penchant for Florida and New York.

“I think this administration doesn’t spend as much time in the District as other administrations,” one broker added.

Even Elon Musk, one of Trump’s wealthiest allies, seems unlikely to make a splash in the local market. “He isn’t a big house person,” Rankin said.

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