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20% of Homes Sold in DC This Year Fetched Over $1 Million

by UrbanTurf Staff

A home on the market in DC.

Approximately one in five homes sold in DC so far this year fetched $1 million or above, an analysis by UrbanTurf found. 

Specifically, 678 of the 3,434 homes sold in the city between January and the end of April carried at least a $1 million price tag. The first four months also saw the highest volume of home sales above $2.5 million (63 sales) for a four-month period in the city, a sign that the luxury sector right now is moving just as swiftly as the rest of the market. 

In certain neighborhoods, the proportion of million-dollar sales was much higher than 20%. For example, in Georgetown and Chevy Chase DC, more than 60 percent of sales came in above $1 million. In Spring Valley, only three homes sold this year did not reach the million-dollar mark. 

Later this week, Bright MLS will release its report on the DC region's housing market in May which will reveal whether the housing market is continuing its feverish pace or if buyers are finally getting fed up with the high prices and heavy competition

Photo courtesy of HomeVisit.

This article originally published at http://dc.urbanturf.com/articles/blog/20-of-homes-sold-in-dc-in-2021-fetched-over-1-million/18352

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