Approximately one in four homes sold in DC so far this year fetched $1 million or above, an analysis by UrbanTurf found. That is the highest proportion of home sales above $1 million for a quarter on record in the city.
Specifically, 747 of the 3,105 homes sold in DC between January and the end of April sold for at least $1 million. The first four months also saw the highest volume of home sales above $2.5 million (93 sales) for a four-month period in the city.
In certain neighborhoods, the proportion of million-dollar sales was much higher than 25%. For example, in Georgetown and Chevy Chase DC, more than 60% of sales came in above $1 million. In Spring Valley, only one home has sold this year that did not reach the million-dollar mark.
Next week, Bright MLS will release its report on the DC region's housing market in May which will reveal how much high prices and rising interest rates are affecting homebuyers.
- $11 Million and Change: The DC Area's 3 Biggest Home Sales in 2022
- 84 Showings, 16 Offers, $740,000 Above Asking
This article originally published at https://dc.urbanturf.com/articles/blog/1-in-4-homes-sold-in-dc-this-year-fetched-over-1-million/19748.
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