What's Hot: A (Slight) Price Drop For Dianne Feinstein's DC Home | The Plans For a 68-Unit Condo/Townhouse Project in Downtown Bethesda
DC's Million-Dollar Neighborhoods Got More Expensive in 2022
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.
story continues below
loading...story continues above
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.
See other articles related to: dc housing market, dc housing market trends, dc's million dollar homes, million-dollar neighborhoods
This article originally published at https://dc.urbanturf.com/articles/blog/dcs_million-dollar_neighborhoods_got_more_expensive_in_2022/20523.
Most Popular... This Week • Last 30 Days • Ever
Georgetown Metropolitan reported on Tuesday that the Instagram account for the nation... read »
The National Park Service has given the green light for DC's 62 year-old stadium to b... read »
A Home Equity Line of Credit, commonly referred to as HELOC, is a borrowing product t... read »
UrbanTurf continues our tour of neighborhood developments around the region as we tak... read »
A regular inclusion as one of DC's most expensive housing markets, Georgetown remains... 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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro