2020 was one of the best years on record for luxury home sales in the District.
An analysis by UrbanTurf, with data provided by Bright MLS, found that 278 homes in DC sold for above $2 million last year, a 24% increase compared to 2019. The number of luxury home sales amounted to about 3 percent of total sales in the city last year, a percentage that is in line with previous years.
As for where in DC homes are selling for more than $2 million, it is where you might expect. One out of five homes sold in Georgetown fell into this category in 2020 while approximately 25 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 last year was $3.3 million.
Photo courtesy of HomeVisit.