One in four DC homes on the market carried a seven-figure price tag at the end of 2018, an analysis by UrbanTurf found.
In the fourth quarter, 24.5 percent of the homes on the market were priced above $1 million. In April 2018, 28 percent of listings were priced above $1 million.
Specifically, 282 of the 1,152 homes on the market in DC in the fourth quarter carried a seven-figure price tag. In certain DC neighborhoods, the volume of million-dollar listings was much higher. For example, in Georgetown, 82 percent of active listings were listed for over $1 million; in Chevy Chase, 50 percent of the listings came in above $1 million. In Spring Valley, every home on the market for the entire year was listed for $1 million or more.
Given how many times a million-dollar asking price flashes across the headline of an UrbanTurf article, the news in this article shouldn't come as much of a surprise. However, to put the high volume of homes listed above $1 million in a little bit of historical perspective, consider this: In March 2011, just 11 percent of active listings on the market were listed for above $1 million, and in March 2008, a mere 8 percent were in the seven-figure range.
Photo courtesy of HomeVisit.
This article originally published at https://dc.urbanturf.com/articles/blog/one-in-four-dc-homes-listed-for-above-1-million/14925.
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