What's Hot: Mortgage Rates Fall Towards 6% Following Fed Cut
DC's Million-Dollar Neighborhoods Got More Expensive in 2022
✉️ Want to forward this article? Click here.
The number of neighborhoods in DC where the median home price hit or exceeded $1 million reached a record level in 2022. And the prices in most of those neighborhoods only keeping going up.
An analysis by UrbanTurf with data from Bright MLS found that there were 16 neighborhoods in 2022 where the median home price exceeded $1 million, up from 14 neighborhoods in 2021. In the majority of those neighborhoods, prices were higher last year than they were in 2021.
story continues below
loading...story continues above
The three priciest neighborhoods in DC -- Foxhall, Kent and Spring Valley -- are now the three sections of the city where home prices regularly exceed $2 million. Berkley could arguably also be included in that group.
Out of the 16 neighborhoods, there were just four -- Woodley Park, Crestwood, Georgetown and N. Cleveland Park -- where the median home value fell, however that drop is a little deceiving. In most of those neighborhoods, the volume of smaller homes to sell in 2022 was much higher than 2021 thus skewing the median price.
See other articles related to: dc housing market, dc housing market trends, dc's million dollar homes, million-dollar neighborhoods
This article originally published at http://dc.urbanturf.production.logicbrush.com/articles/blog/dcs_million-dollar_neighborhoods_got_more_expensive_in_2022/20523.
Most Popular... This Week • Last 30 Days • Ever
A plan to add another new residential building to the Friendship Heights pipeline is ... read »
Mortgage rate buydowns can be a good option for buyers who want to save money on inte... read »
Plans filed this week provide the latest look at the 106-key hotel in the works at an... read »
The eight-bedroom, 35,000 square-foot home in McLean known as The Cliffs went under c... read »
The large new development would take the place of the Ballston One office building al... read »
- Donohoe Files PUD For 127-Unit Development in Friendship Heights
- How Does a Mortgage Rate Buydown Work?
- A Look At Georgetown's New 100-Key Hotel Along The Canal
- A $30 Million Sale? One Of The DC Area's Most Expensive Homes Finds A Buyer
- Updated Plans Filed For 328-Unit Development At Arlington Office Site
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. Start browsing below!
First-Timer Primers
Intro guides for first-time home buyers
Unique Spaces
Awesome and unusual real estate from across the DC Metro