The 5 DC Neighborhoods Where Homes Will Cost You $1 Million and Above

• July 1, 2015

by UrbanTurf Staff

Inside the home that sold in Massachusetts Avenue Heights this year.

Over the last several weeks, UrbanTurf has looked at the neighborhoods in DC where homes have been selling the fastest and for above listing price. Today, we look at the areas with the highest prices.

Using segmented data from RealEstate Business Intelligence, we look at the DC neighborhoods where the median sales price for homes is $1 million or higher.

There are five DC neighborhoods where the median sales price for homes exceeds $1 million. The most expensive neighborhood so far in 2015 is Massachusetts Avenue Heights, to the west of the Naval Observatory, but that comes thanks to one sale for $5.6 million. However, that doesn’t mean that the neighborhood isn’t home to some of DC’s most expensive residences: last year, Massachusetts Avenue Heights had the highest median sales price at $1.847 million.

Coming in behind Massachusetts Avenue Heights are Spring Valley and Berkley, where the median home price exceeds $1.43 million. Rounding out the list are Georgetown and Kent. Chevy Chase barely misses the $1 million club with a median sales price of $980,000 so far this year.

In Mass Ave Heights and Berkley, the median sales price falls below the median list price — not surprising when you are dealing with homes this expensive.

This article originally published at http://dc.urbanturf.com/articles/blog/the_5_dc_neighborhoods_where_homes_will_cost_you_1_million_and_above/10069