Home | Newsletter | Advertise
loading...

The DC Region’s Million-Dollar Homes Set a Record in April

  • May 13, 2015

by Lark Turner

The DC Region's Million-Dollar Homes Set a Record in April: Figure 1
A condo that hit the market in April for $1.225 million.

Here is further proof that the DC region is becoming the land of increasingly expensive homes.

More homes priced north of $1 million hit the DC-area market in April than in any month in the last 20 years, according to data from RealEstate Business Intelligence. As far as RBI knows, that’s a new record: their data don’t go back any further.

The total number of new listings priced at $1 million or more came in at 956 in April. That’s up significantly from the previous one-month record of 855 listings set in May 2006. Altogether there were 1,848 listings priced at $1 million or more on the market in April; 820 of those listings were in Fairfax County.

The DC Region's Million-Dollar Homes Set a Record in April: Figure 2
Click to enlarge.

Most of the $1 million-and-up listings that hit the market in April were also in Fairfax County, at 380, followed by Montgomery County at 267 listings and DC at 166.

Assuming a 20 percent down payment, RBI calculates that a person purchasing a million-dollar home would have to be making at least $200,000 or more a year to afford it.

See other articles related to: million-dollar homes dc

This article originally published at http://dc.urbanturf.com/articles/blog/dc_million_dollar_homes_set_record_april/9880

DC Real Estate Guides

Short guides to navigating the DC-area real estate market

We've collected all our helpful guides for buying, selling and renting in and around Washington, DC in one place. Visit guides.urbanturf.com or start browsing below!

First-Timer Primers

Intro guides for first-time home buyers

Red Flags Revealed During a Home Inspection Top 5 Tax Breaks For Homeowners Tax Relief for DC Homeowners
Condo Fee Tutorial What is a Rent Back? 10 Ways To Tell If a Home Renovation is Well Done
Obtaining a Basic Business License For Your Rental What is an Adjustable Rate Mortgage? The Splitting the Rent Formula
How Much Cash Do You Need to Buy a House? Is This Condo Building Financially Healthy? Interest Rates and Mortgage Points
The Scoop on Mortgage Insurance

Unique Spaces

Awesome and unusual real estate from across the DC Metro

The Most Intriguing Loft in DC The R Street Firehouse DC’s One-Room House
Dupont Circle’s Old Frat House To Become Alley Home Best Transition From a Garage To a Home The Roundhouse
Tilden Gardens Restaurant-Turned-Home Hits Market Next Week Logan Circle’s Most Intriguing Garage Frank Lloyd Wright Goes Green in Kensington
Sears Bungalow Gets a Modern Makeover Old Town General Store Becomes Three-Level Home Making the Most of a Skinny House
A Studio 27 Renovation on Capitol Hill Once a Carriage House, Now a Home The Bank that Became a Home
From Pie to Hooch to Heroin to Home The Live-Aboards of Gangplank Marina A Treehouse with Rock Creek Park As A Backyard
Modern Tranquility in Sperryville Saddle Up For Stable Living Throwing a Curve at 550 Square Feet
A Modern Hilltop Retreat Tilden Street Restaurant Becomes Spacious Home Focus on Design: A Vastu Unit at 22 West
The DC Area’s First Net Zero Home A Yankee Goes Green DC’s First Carbon Neutral Home
Eco-Friendly Alley House Off H Street The Gym, The Stables and The Firehouse