Home | Newsletter | Advertise
loading...

DC's Million-Dollar Neighborhoods Got More Expensive in 2022

  • January 20th 2023

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

5063overlook550.jpeg
A home in Spring Valley.

The number of neighborhoods in DC where the median home price hit or exceeded $1 million reached a record level in 2022. And the prices in most of those neighborhoods only keeping going up.  

An analysis by UrbanTurf with data from Bright MLS found that there were 16 neighborhoods in 2022 where the median home price exceeded $1 million, up from 14 neighborhoods in 2021. In the majority of those neighborhoods, prices were higher last year than they were in 2021.  

million-neighborhoods.jpg
Click to enlarge. 

The three priciest neighborhoods in DC -- Foxhall, Kent and Spring Valley -- are now the three sections of the city where home prices regularly exceed $2 million. Berkley could arguably also be included in that group. 

Out of the 16 neighborhoods, there were just four -- Woodley Park, Crestwood, Georgetown and N. Cleveland Park -- where the median home value fell, however that drop is a little deceiving. In most of those neighborhoods, the volume of smaller homes to sell in 2022 was much higher than 2021 thus skewing the median price.

This article originally published at https://dc.urbanturf.com/articles/blog/dcs_million-dollar_neighborhoods_got_more_expensive_in_2022/20523.

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. 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