Home | Newsletter | Advertise
loading...

One in Five DC Homes Sold For Above $1 Million in 2020

  • August 24th 2020

by UrbanTurf Staff

✉️ Want to forward this article? Click here.

The view from a property that sold in Georgetown earlier this year.

Approximately one in five homes sold in DC this year fetched $1 million or above, an analysis by UrbanTurf found. 

Specifically, 901 of the 5,048 homes sold in the city between January and the end of July carried at least a $1 million price tag. July also witnessed the highest volume of sales between $2.5 million and $5 million for a month in three years (18), a sign that the luxury sector right now is moving just as swiftly as the rest of the market. 

In certain neighborhoods, the proportion of million-dollar sales was much higher than 20%. For example, in Georgetown and Chevy Chase DC, 65 percent of sales came in over $1 million. In Spring Valley, only two homes sold this year did not reach the million-dollar mark. 

Given how many times a million-dollar asking price flashes across the headline of an UrbanTurf article, the numbers outlined in this article shouldn't come as much of a surprise. However, to put the high volume of homes sold above $1 million in a little bit of historical perspective, consider this: For the same period in 2011, just 9 percent of total home sold went for above $1 million. 

Similar Posts:

This article originally published at https://dc.urbanturf.com/articles/blog/one-in-five-dc-homes-sold-for-above-1-million-in-2020/17228.

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