Industry News

Long & Foster’s real estate sales climb

Closed transactions set record in May

Learn the New Luxury Playbook at Luxury Connect | October 18-19 at the Beverly Hills Hotel

The Long & Foster Cos. today reported that total May sales for all of its companies reached $5.6 billion for the month, up 28 percent from May 2003 but somewhat below March's all-time company record of $6 billion. The companies' numbers include: Long & Foster Real Estate Inc., with sales of $4 billion on 11,985 properties sold, a new all-time record for the company, and an increase of 28 percent over last year's record performance for May of 2003. The firm's three affiliated businesses were up 23 percent in real estate sales values for May 2004. Prosperity Mortgage Co., the firm's mortgage affiliate, reported $368 million in volume of business. Strong numbers were also posted by company affiliates Mid-States Title, $1 billion, and Long & Foster Insurance, $232 million.   "Real estate sales continue extremely strong," said Wes Foster, president of The Long & Foster Cos. "Fifty of Long & Foster's 200 sales offices throughout seven states and Washington...