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Above $700: A Look at the Highest Prices Per Square Foot in DC
The neighborhoods in DC with the highest real estate prices per square foot so far in 2023 are concentrated in one quadrant of the city.
Leading the way is West End, with a median price per square foot of $832. This neighborhood, just to the east of Georgetown, is the only area in the city where the price per square foot metric is above $800. Coming in second at $734 a square foot is the neighbor to the west, Georgetown.
Rounding out the list above $700 are Logan Circle ($727), Mt. Vernon Square ($702) and Spring Valley ($701). Coming in just south of $700 a square foot is Dupont Circle.
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As UrbanTurf has previously noted, price per square foot is one of those tricky measures in real estate. In DC, a home’s square footage consists of the above-grade finished living area. According to the DC Property Tax Division, that is “comprised of the finished areas of the main floor (kitchen, living room, dining room, etc.) and any finished areas above the main floor.” However, there is no exact science when it comes to measuring square footage, something that UrbanTurf commenter skidrowedc pointed out several years ago.
“Price per square foot has value as a general statistical indicator, tracking movements at neighborhood and regional scales. But overemphasis on price per square foot, combined with no legal standard for how to calculate square footage, creates an incentive to cheat the footage upward. Moreover, at the scale of an individual condo or house, it’s as much about how well the square footage is laid out than the actual quantity of square feet.”
Photo courtesy of HomeVisit.
See other articles related to: dc housing market, dc housing market trends, dc prices per square foot
This article originally published at https://dc.urbanturf.com/articles/blog/above_700_a_look_at_the_highest_prices_per_square_foot_in_dc/20936.
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