Reply to Why is Langley Enrollment Going Down?

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[quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous][quote=Anonymous]The appeal if living far away on large plots of land ended. [/quote]

Sorry, don't think so.  [/quote]

Most rich families are now preferring closer in locations.[/quote]

This. Rich, young families want to be in Kalorama or 14th St . . . Not out in a dated McMansion [/quote]

The number of people buying million-plus properties near 14th Street is de minimus compared to the more affluent NoVa zip codes.  There are a lot of people buying expensive properties in 20008, which includes Kalorama, but it's not off the charts and the inventory isn't that big.  To put it in perspective, here are the number of million-plus sales over the past two years in various zips:

22101/McLean - 417
22207/North Arlington - 383
22066/Great Falls - 242
20008/DC - 212
22102/McLean - 205
22180/Vienna - 170
22182/Vienna - 160
* * * 
20011/DC - 36

Since Langley pulls primarily from 22066 and 22102, along with bits of 22101 and other zip codes, it seems like there may be some turnover taking place now, but the kids just aren't showing up in the Langley pyramid.  But you'd have to think some of the buyers are younger - would you really buy a five-bedroom house on two acres in Great Falls if you didn't have kids?    [/quote]

Whatevs. I'm not talking 1m. In the 2m+ market, nova is dead (crickets). Kent, Kalorama, etc are where the young money is flowing. No one wants to drive that far, no good food, etc. [/quote]

I think you want to turn this into a thread about expensive real estate in DC, rather than about what is impacting Langley's enrollment.  However, if you look at sales in the two million-plus market over the past two years, you'd still find the Langley areas are up there with the zip codes that include Kent and Kalorama (the areas near 14th Street aren't that expensive):

20008/DC (includes Kalorama) - 77
22101/McLean - 76
20016/DC (includes Kent) -57
22102/McLean - 56
22066/Great Falls - 44
22207/North Arlington - 28

There is more inventory in the two million-plus range on the market in the Langley areas now than in 20008 and 20016 (about 100 houses in 22066 and 22102 combined, compared to about 45 in 20008 and 20016), but a lot of people in that price range would be sending their kids to privates anyway. [/quote]

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