North of $600: The Highest Prices Per Square Foot in DC

• June 11, 2015

by UrbanTurf Staff

Home in Georgetown that sold for $1,100 a square foot.

Price per square foot is one of those tricky metrics 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.” It is usually easier (and more accurate) to calculate the square footage for a condo or co-op than a single-family home, hence when you are looking at real estate listings, you are far more likely to find individual units with the square footage listed than individual houses.

Still, price per square foot ranks near the top when it comes to the criteria that buyers use to assess the value of a home to purchase. Today, UrbanTurf will be looking at the DC neighborhoods with the highest median price per square foot in 2015.

Click to enlarge.

The most eye-catching thing about the table above is that there are eight DC neighborhoods where the median price per square foot of homes sold this year sits above $600, and three — Georgetown, West End and Burleith — where that metric is north of $700.

The neighborhood that saw the largest price per square foot increases this year were Kalorama. In West End, Burleith and Capitol Hill, the price per square foot fell.

The data for this article was provided by RealEstate Business Intelligence.

This article originally published at http://dc.urbanturf.com/articles/blog/north_of_600_the_highest_prices_per_square_foot_in_dc/9956