Miller & Smith Data Validates Market Demand For New Home Construction In The Washington, DC Region

MCLEAN, Va., Feb. 1, 2013 /PRNewswire/ -- Miller & Smith, an award-winning homebuilder and real estate development company, today released 2012 data regarding the company's increase in new home production and sales in 2012.  The newly released data further validates the demand for new home construction in the Washington, DC region.  

Miller & Smith's recent successes were highlighted on ABC World News with Diane Sawyer and in The Washington Post.  Year-end data includes the following:

  • 23% increase in total homes sold equaling 372 homes sold in 2012 vs. 304 homes sold in 2011.
  • 3-7% increase in home prices in 2012 with home prices ranging from $260,000 and $600,000.
  • 8 communities opened in 2012 containing six different model homes
  • 35% of all sales transactions are attributed to three development projects in Brambleton, one of the Top 10 best selling communities in the US.

"Based on our growth pattern for the last three years and the national uptick in the overall house market, the outlook for 2013 is very positive.  We see a vibrant market in nearly all of the DC metro especially Loudoun and Montgomery Counties and have our sights set on expanding into Stafford County," said Doug Smith, President of Miller & Smith. "Our goal is to continue to roll out new communities with innovative, niche designs to ensure we deliver extraordinary homes in desirable neighborhoods."

About Miller & Smith:

Founded in 1964, Miller & Smith is a privately owned builder and developer who is active in both residential and commercial real estate and has earned a reputation for creating innovative and imaginative homes and communities. One of the largest private homebuilders in the Washington, DC metropolitan region, Miller & Smith has built more than 5,400 single family homes, 8,800 townhomes, and 2,125 condominiums and developed 12,700 home sites in 92 communities throughout Maryland, Virginia and Delaware and is headquartered in McLean, Virginia. For more information about Miller & Smith, visit www.millerandsmith.com or call (703) 821-2500.  

Contact:
Stephanie Orton Lynch
Director of Public Relations | Blue Bug Digital
202.248.5855 | slynch@bluebugdigital.com

SOURCE Miller & Smith

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