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

• August 13, 2014

by UrbanTurf Staff

A home for sale in Berkley.

Last year, UrbanTurf looked at the DC area zip codes with the most expensive homes for sale in the region. This year, with the benefit of RealEstate Business Intelligence’s newly-segmented data, we’re taking a different approach, by looking at the DC neighborhoods where the median sales price for homes is $1 million or higher.

The most expensive neighborhood so far in 2014 is Massachusetts Avenue Heights, to the west of the Naval Observatory, where the median sales price this year is $1.847 million. Unsurprisingly, it is also the DC neighborhood where homes take the longest to sell (61 days on average).

Coming in behind Massachusetts Avenue Heights are Spring Valley and Berkley, where the median home price exceeds $1.45 million. Rounding out the list are Georgetown, Kent and Hawthorne, the latter a small neighborhood that abuts Oregon Avenue in the far northwest section of the city.

For every neighborhood, except Kent, the median sales price falls below the median list price, which is not surprising when you are dealing with homes this expensive. In Kent, however, homes are not only selling for above their asking price this year, but are also selling in about a week.

This article originally published at http://dc.urbanturf.com/articles/blog/the_six_dc_neighborhoods_where_homes_will_cost_you_1_million_and_above/8861