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  • Axios DC

    D.C. is seeing more $2 million neighborhoods

    By Mimi Montgomery,

    2024-08-23

    Data: Bright MLS. Chart: Axios Visuals

    D.C. has more neighborhoods with $2 million and up median sales prices now than it did at the same time last year, per Bright MLS data.

    Why it matters: D.C.'s luxury real estate market is booming, as higher-income buyers are less burdened by steadily high interest rates and D.C.'s expensive prices.


    State of play: Four Northwest neighborhoods currently have median sales prices above $2 million: Kent, Berkley, Burleith, and Spring Valley.

    • At the same time last year, there were only two: Berkley and Spring Valley.

    These neighborhoods clock in way higher than D.C.'s median sales price of $625,000.

    The intrigue: An increasing number of luxury buyers are paying for their homes with all cash .

    • And some of these neighborhoods will be affected by D.C.'s new " mansion tax ."
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