Almost 200 homes in DC sold for above $2 million in 2019, keeping up with the volume for this price point from past years.
An analysis by UrbanTurf, with data provided by Bright MLS, found that 2.5 percent of the homes sold in the city this year fetched north of $2 million. Specifically, 190 of the 7,771 listings sold so far in 2019 were purchased for $2 million or more; 55 homes sold for above $3 million.
For each of the last two years, luxury transactions in this price point have accounted for about 2.6 percent of total sales, even in 2017 when there were a record 240 sales above $2 million.
As for where in DC homes are fetching more than $2 million, it is where you might expect. One out of four homes sold in Georgetown fell into this category in 2019 while approximately 45 percent of the homes sold in Spring Valley and Kent sold for above $2 million. As for the neighborhood where you are almost guaranteed to pay this premium, it's Massachusetts Avenue Heights where the average sales price this year is $3 million.
This article originally published at https://dc.urbanturf.com/articles/blog/the-world-of-the-2-million-home/16175.
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