What's Hot: The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn | Do Three Months of Rising Home Sales Mean The Market is Turning a Corner?
One in Four DC Homes Is Priced Above $1 Million
A home recently listed in DC for $7.4 million.
There aren’t a lot of homes for sale in DC but, relative to total inventory, there are a large proportion of homes for sale in the seven-figure range.
A recent analysis by UrbanTurf found that one out of every four homes on the market in DC in March was priced above $1 million. This is a rather marked increase from last year around this time when 20 percent of homes on the market were listed for above $1 million.
story continues belowloading...
story continues above
Specifically, 325 of the 1,266 homes on the market in DC last month carried price tags above $1 million. In certain DC neighborhoods, the volume of million-dollar listings is much higher. For example, in Georgetown, 72 percent of active listings in March were listed for over $1 million. In Kalorama, that percentage was 64 percent, and in Spring Valley, virtually every home on the market is listed for $1 million or more.
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.
This article originally published at https://dc.urbanturf.com/articles/blog/one_in_four_dc_homes_is_priced_above_1_million/12524.
Most Popular... This Week • Last 30 Days • Ever
509 Lloyds Lane features 6,000 square feet of naturally lit space, six fireplaces, a ... read »
Clarion Partners, the owner of the Chevy Chase Pavilion, has filed modifications to i... read »
Where it's cheaper to build than buy; Elon Musk is not making Texas happy; and the wo... read »
New renderings show the public space that will be part of the huge new residential de... read »
Several large projects are in the works across the Potomac in Rosslyn while others ha... read »
At an ANC 4A meeting on Tuesday night, representatives from Whole Foods said that the... read »
While homeowners must typically appeal by April 1st, new owners can also appeal.... read »
The application has been filed for the American City Diner along Connecticut Avenue i... read »
The 650,000 square-foot project, designed by Adjaye Associates and Hickok Cole, will ... read »
The largest development on the boards for the H Street Corridor is planned for a fami... read »
With this weekend's DC houseboat tour a day away, UrbanTurf thought it only fitting t... read »
President Obama travels to Denver this morning to sign the stimulus bill that has bee... read »
In this week's installment of Ask An Agent, a reader wonders if there is a rule for h... read »
As The Wharf prepares to begin construction, DC's houseboat community heads to its ne... read »
In this week's installment of Ask An Agent, a reader asks a fairly common question th... read »
- In a Highly Desirable Alexandria Location, This Newly Listed Six Bedroom Home is a Timeless Classic
- Plans Progress For a New Grocery Store at Friendship Heights Mall
- Friday's Must Reads
- New Renderings Show Retail Plaza, Park at 435-Unit Takoma Metro Development
- The 2,600 Units in Progress, and 500 Units on Hold, in Rosslyn
- Whole Foods at Walter Reed To Open This Summer
- How to Appeal Your DC Property Tax Assessment
- Raze Application May Spell The End For One of DC's Last Diner Buildings
- A First Look at the Five-Building Centerpiece of the St. Elizabeth's Redevelopment
- 200-Unit Apartment Project Planned For Autozone Site Along the H Street Corridor
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. Visit guides.urbanturf.com or start browsing below!
Intro guides for first-time home buyers
Awesome and unusual real estate from across the DC Metro