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.
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
Dupont Circle’s Swann House, a former 15-bedroom bed and breakfast, will be listed ... read »
There are two new proposals to redevelop the center at 14th and U Streets NW that are... read »
A recent build in Anacostia made history as the first code-compliant bamboo building ... read »
The recently-filed amendment would help move redevelopment of a police and fire stati... read »
Even as the residential development pipeline along 14th Street dwindles, there are st... read »
UrbanTurf has compiled virtual looks at large new developments around the DC region.... read »
Why condo fees are high in some buildings and low in others can be a difficult questi... read »
Post Brothers has plans in the works to convert the Universal buildings into a sprawl... read »
The two-building project will include approximately 825 residential units, 151 lodgin... read »
The M Street building was built in the early 1980s.... 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 »
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