What's Hot: The 4 Projects in the Works (Or on Hold) Near DC's Starburst Intersection | This Week's Find: Fit For Art in the Palisades
The Anatomy of DC's $1 Million House
The typical $1 million house is smaller, older and has fewer bathrooms than it did before the pandemic. That is the conclusion of a new report from Zillow that examines $1 million houses* in markets across the U.S.
"Single-family homes in the million-dollar range that sold in the second quarter of 2022 are noticeably different from homes that sold in the same price range in the years preceding the COVID-19 pandemic," the report stated. "Today’s million-dollar homes have undergone shrinkflation, possessing a much smaller footprint than the million-dollar homes of 2019. They also have fewer bathrooms and are older overall."
In the DC area, shrinkflation is on full display. In 2019, the square footage of a typical million-dollar home in the region was approximately 3,000 square feet; this year, that square footage has dropped to 2,500.
Below, UrbanTurf picks out a few other interesting numbers regarding million-dollar houses around DC:
- 35 years -- The median age of a million-dollar house.
- 3.5 -- The average number of bedrooms.
- 4 -- The average number of bathrooms.
- 3,829 -- The number of $1 million+ houses that sold in the second quarter.
*Million-dollar homes are defined as single-family homes that sold between $950,000 and $1,050,000.
See other articles related to: dc's million dollar homes, million dollar homes
This article originally published at https://dc.urbanturf.com/articles/blog/the-anatomy-of-dcs-1-million-house/20028.
Most Popular... This Week • Last 30 Days • Ever
Our guide for amateur landlords who don't really know what they're doing.... read »
The Massachusetts Avenue Heights home was previously owned by the former chief execut... read »
A large new apartment and townhouse project has been pitched for the growing pipeline... read »
On Friday, Mayor Muriel Bowser and the Office of the Deputy Mayor for Planning and Ec... read »
In this week's Under Contract, we highlight two homes that found buyers just shortly ... read »
Virginia's homebuyer assistance programs can seem complex. This edition of First-Time... read »
The residential projects that have sprouted up on the Maryland and DC sides of the Fr... read »
The immaculately kept 100-year-old house features six bedrooms and four-and-a-half ba... read »
Ten years later, plans to construct nearly 150 townhomes at DC's most hotly debated d... read »
A look at the larger residential developments in the works from Cardozo to Mount Vern... 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 »
- The Essential Guide to Being an Amateur Landlord in DC
- Washington Spirit Owner Michele Kang Lists DC Home for $14.5 Million
- A Two-Phase, 370-Unit Development Pitched For Columbia Pike Gas Station Site
- Apartments, A Plaza + Dave Chapelle: The Future Plans for 14th and U
- Under Contract: That Didn't Take Long
- First-Timer Primer: Virginia's Home Buyer Assistance Programs
- Mall Conversions, Trader Joes? The 1,500 Units in the Friendship Heights Pipeline
- Now Selling: A 16th Street Heights Victorian on an Island of Its Own
- Reservoir District: 146 Townhomes Planned at McMillan Site Look For Final Design Approval
- The 9 Developments and 1,250 Units in the Works For Shaw
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