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1 In 5 Homes On The Market In DC Is Priced Above $1 Million

  • February 28th

by UrbanTurf Staff

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A $9.5 million home on the market in Chevy Chase. 

Back in 2019, DC’s Office of Revenue Analysis concluded that $1 million should no longer be used as the baseline price point to define the luxury housing market in DC. As home prices continue to increase, that conclusion continues to be valid.

Using Bright MLS data, UrbanTurf found that 22% of the 2,050 active listings on the DC market in January were priced above $1 million. 

What may be more interesting than the proportion of million-dollar homes for sale is how the supply of every segment of home with a seven-figure price tag has risen since last year. Most notably, the number of homes priced above $5 million increased over 40%. 

  • Homes priced from $1 million to $2.5 million -- Up 12%
  • Homes priced from $2.5 million to $5 million -- Up 20%
  • Homes prices above $5 million -- Up 42%

See other articles related to: dc's million dollar homes

This article originally published at https://dc.urbanturf.com/articles/blog/1_in_5_homes_on_the_market_in_dc_is_price_above_1_million/23246.

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