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$2.5 Million and Up: Luxury Home Sales Have Doubled in DC Since 2020
It is looking to be a very good year for pricey real estate in DC, even with the slowdown over the last few months.
An analysis by UrbanTurf, with data provided by Bright MLS, found that nearly 200 homes sold for above $2.5 million in the city between January and the beginning of October. While that only represents about 3% of listings sold this year, home sales in this price bracket have more than doubled compared to the same period in 2020.
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As for where in DC homes sold for more than $2.5 million, it is where you might expect.
One out of four homes sold in Spring Valley and Kent fell into this category in 2022, while in Georgetown that proportion is closer to 20% of homes sold. As for the neighborhood where you are almost guaranteed to pay this premium, it's Massachusetts Avenue Heights where the average sales price this year is $3.9 million.
Photo courtesy of HomeVisit.
See other articles related to: luxury condos dc
This article originally published at https://dc.urbanturf.com/articles/blog/25_million_and_up_luxury_home_sales_have_doubled_in_dc_since_2020/20297.
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