A home in Massachusetts Avenue Heights
There are now eight neighborhoods in DC where the median price for a home exceeds $1 million.
The most expensive neighborhood in the city is Massachusetts Avenue Heights, to the west of the Naval Observatory, where the median sales price this year is $3.8 million. The next two priciest neighborhoods in the District are Spring Valley and Kent with median prices of $1.7 million and $1.685 million, respectively.
The chart above reveals some interesting data points about DC’s priciest, albeit smaller, neighborhoods. In the three neighborhoods where the million-dollar price point just barely exceeds seven figures, homes are sitting on the market for just a week. While it is usually the norm that in neighborhoods this expensive the median sales price usually falls well below the median list price, that is not the case in Georgetown, North Cleveland Park and Colonial Village.
Lastly, North Cleveland Park is a pretty good place to own a million-dollar home. Not only are seven-figure homes selling on median in seven days, but the sales price to original list price ratio in the neighborhood now sits at 103 percent.
This article originally published at https://dc.urbanturf.com/articles/blog/dcs_million-dollar_neighborhoods/11489.
Most Popular... This Week • Last 30 Days • Ever
In this edition of First-Timer Primer, we look into the question of how to determine ... read »
The preferred mortgage product among most home buyers is the fixed-rate mortgage. How... read »
Here's what you need to know about reporting profit made from the sale of your home.... read »
A Roth IRA is one of those accounts that people feel is totally off limits until you ... read »
The latest edition of What $1.5 Million Buys includes a Falls Chuch home reminiscent ... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
When sellers haven't quite lined up their next house before their settlement date com... read »
In this edition of First Timer Primer, we take a closer look at what you are actually... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
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!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro