20% of Homes in DC Are Listed Above $1 Million

• October 13, 2015
• 2 Comments

by UrbanTurf Staff

A home for sale in Massachusetts Avenue Heights

A report out last week on the San Francisco housing market revealed that 63 percent of the homes on the market in that city are listed for north of $1 million. The DC market hasn’t achieved that level of priciness just yet, but it is getting up there.

Following news earlier this week that home prices in the city have risen 10 percent over the last year, UrbanTurf received data from RealEstate Business Intelligence that shows that 19.6 percent of the homes on the market in DC proper at the end of September were listed above $1 million. Specifically, there are 1,425 listings on the market and 279 are listed for over $1 million.

The percentage of million-dollar homes has risen notably from five years ago when just 12 percent of the for-sale inventory was priced above $1 million.

This article originally published at http://dc.urbanturf.com/articles/blog/20_percent_of_homes_in_dc_are_listed_for_over_1_million/10448

2 Comments

1. skidrowedc@gmail.com said at 5:30 pm on Thursday October 15, 2015:
   Can you please clarify what "home" means in this context? One has to assume that condominiums/coops are not included in the statistic, since the occasional condo does go over $1M, but nowhere near 20%. Rowhouses/townhouses seem possible, but unlikely, to be included. The San Francisco article you link to doesn't define "home," either. If it means "single-family detached house," can you please consider an editorial policy not to use the word "home" in this manner in the future? Aside from muddying the statistic being presented, it's vaguely insulting to people who live in other types of dwelling units.

1. Mark Wellborn said at 5:35 pm on Thursday October 15, 2015:
   skidrowe, The term "home" refers to every active listing on the market, including condos and co-ops. The exact numbers are as follows: There were 1,425 active listings on the market in DC proper at the end of September; 279 of those listings were priced above $1 million. When we write about single-family homes in an article, we make it clear that we are writing about that property type. Apologies if this wasn't clear to you. Mark